Barbour vetoes wind pool bill

Gov. Haley Barbour

JACKSON — Gov. Haley Barbour has vetoed a wind pool bill because he says it is unnecessary.

The bill did not include any money.

It would’ve added two years to a plan that diverted $20 million in insurance premium tax revenues into the Mississippi Windstorm Underwriting Association Reinsurance Assistance Fund, commonly called the wind pool.

The original diversion was signed into law in 2007 and is set to expire on June 30. Barbour says the state has put the entire $20 million into the wind pool.

The diversion was aimed at helping reduce insurance premiums on the Coast.

The bill is House Bill 173.

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