This Report, from the TaxWatch Center for Government Efficiency, highlights more than $1 billion in savings for Florida taxpayers, without reducing state-provided services. The six comprehensive recommendations included in the Report address replacement of the state's accounting system; information technology governance, procurement and state asset management; pension reform; criminal justice reform; state health insurance reforms; and revenue maximization.
Repealing an insurance premium tax credit that was designed to encourage insurance company jobs in Florida without fully assessing the impacts would be unwise, according to this Briefing from Florida TaxWatch.
Continuing a legacy that has resulted in the savings of at least $3.5 billion in Floridians' hard-earned tax dollars over the last four years alone, Florida TaxWatch added more than $1 billion in cost-saving options for lawmakers this year, with the release of this Report. This year's Report is the fifth in as many years from Florida TaxWatch, the independent, nonpartisan, nonprofit taxpayer research institute and government watchdog headquartered in Tallahassee.
Just one major hurricane could plunge Florida into a financial crisis as the current insurance system lacks the actuarial soundness to withstand the massive number of resultant claims. Several proposed solutions are examined.
The financing mechanisms of Florida's hurricane property insurance system are a complex as the meteorological factors that cause the devastating storms. This report details the components of the system and describes what must be done for optimal value and protection.