AMENDMENT NO 1 PROPOSED TO
Cmte Sub for House Bill No. 355
BY: Representative Guice
Amend by striking all after the enacting clause and inserting in lieu thereof the following:
SECTION 1. The following shall be codified as Section 31-5-30, Mississippi Code of 1972:
31-5-30. On any public construction projects, if a natural disaster is declared by the Governor, the county, municipal government or any political subdivision thereof shall reimburse the insured the deductible of the builder's risk insurance policy for damages sustained as a result of the natural disaster.
SECTION 2. This act shall take effect and be in force from and after July 1, 2007.
Further, amend by striking the title in its entirety and inserting in lieu thereof the following:
AN ACT TO REQUIRE THE DEDUCTIBLES ON BUILDER'S RISK INSURANCE POLICIES FOR PUBLIC CONSTRUCTION PROJECTS TO BE REIMBURSED TO THE GOVERNMENTAL ENTITY FOR WHICH THE PROJECT IS PERFORMED IN THE EVENT OF A NATURAL DISASTER DECLARED BY THE GOVERNOR; AND FOR RELATED PURPOSES.