Ports stimulus would aid insurers, not policyholders
by Michael C. Bender | March 21st, 2010A stimulus plan that Florida lawmakers are considering for state ports would be paid for with a tax break for insurance companies, but insurers would not have to pass the savings to policyholders under a provision in the bill.
Rep. Lake Ray, R-Jacksonville, who is sponsoring the bill, initially described the provision as a protection for insurance companies. He said letting insurers pocket the tax break, a conflict with a long-standing state law, was an incentive for companies to participate.
But after questions about the provision from The Palm Beach Post, Ray said Friday it will be removed.
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