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Statement by CFO Sink on Senate Committee’s Passage of Cat Fund Proposal

4/8/2008

CONTACT: 
Tara Klimek or Kevin Cate
(850) 413-2842   
  
TALLAHASSEE— Florida Chief Financial Officer Alex Sink today applauded the Florida Senate Committee on General Government Appropriations for unanimously passing Senate Bill 2156 by State Senator Bill Posey (R-Rockledge), which reduces Floridians’ risk of hurricane assessments from the Florida Hurricane Catastrophe Fund.
 
“Eliminating $5.5 billion of hurricane assessment risk after a bad storm is the fiscally responsible thing to do,” said CFO Sink.  “I thank Senator Alexander, Senator Lawson, Senator Posey and their colleagues for their leadership and support of this bipartisan proposal to reduce the risk of hurricane assessments on Floridians and businesses.”
 
The companion bill is HB 7021, sponsored by State Representative Ron Reagan (R-Sarasota/Bradenton).
 
As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Alex Sink  oversees the Department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. CFO Sink also serves as the State Fire Marshal.