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The Lemieux Report

www.thelemieuxreport.com

4/14/08….

Topics…

1…Budget Debate….

each chamber of Fl. Leg. passed 2008- 09 budget last week….

Fl. Senate…$65.9 billion….26-12/ Fl. House….$65.1 billion….72- 41

amount is $6 billion less than Crist budget signed last year….

games will begin…trading etc…in the final sessions….

bottom line….required balanced budget final product….cuts in education/health will be hardest hit…with that scenario…private companies will enter the market to compete on coverage of the uninsured..

2. Property Tax Cap 1.35%

proposed constitution amendment to cap prop. tax growth 1.35% of prop. assessed value passed both houses last week…. by 3/5 of the full membership…voters have final say in Nov.

bottom line….

legislators vote in favor of tax relief …since it goes to the voters in the end….

3. Property Insurance Still Center Stage…

Allstate Ins. still on the hot seat….facing enforcement from writing new policies…150 thousand pages were subpoenaed…uncovering why rates did not drop from 2007 reforms…Senate to expand investigation…Allstate faces 4 separate inquiries….

House of Representatives voted 109-6 on measure that would take $250 million from state run Citizens…providing loans to private ins. companies…attempt to reduce rates…increase private insurers…Crist opposes this…

Senate proposal would decrease obligation of Fl. hurricane catastrophe fund…ins. reimbursement would drop to 70% instead 90%…reduces state obligation from $28 billion- $25 billion…

bottom line…

Allstate has until today to apply for re-hearing…

4. Free Trade Amendment…

Last week U.S. House of Representatives…voted 224- 195 to defer consideration of free trade agreement with Columbia…bush calls decision damaging…Crist supports free trade agreement…says it would increase Fl. exports by $161 million…and add 1700 jobs…

bottom line…free trade good for Fl./ Congress should reconsider…

5. Session Midway Point…Recap of previous Lemieux report issues…

check it out…as well as further specifics of topics… again get the weekly emails…

also check out …things to Watch…

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