State Senators Mike Bennett, R-Bradenton, and Representative Bill Proctor, R-St. Augustine sponsored the bill. Because, as reported here, it might have reversed State Farm’s withdrawal from Florida as a property insurer, the bill informally is known as the “State Farm bill.”
When vetoing the bill, Crist stated:
“This will likely result in significant and unpredictable rate increases that, during these economic times, people can simply not afford.”
Senators Bennett and Proctor reportedly are considering a campaign to override the Governor’s veto. The bill passed the Florida Senate and House by wide margins, 105-13 in the House and 27-9 in the Senate. The margins exceed the two-thirds majority required to pass the bill in spite of the gubernatorial veto, although by only three votes in the Senate.