Barbour vetoes wind pool bill
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.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Voters to decide whether hunting, fishing is constitutional right
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- MARTIN WILLOUGHBY: Andrew Adams helps grow Addicus
- Dak Prescott's autograph fetches a pretty penny
- Grand juries charge seven with election violations
- Butler Snow names Crockoft new office director
- Farm theft investigation recovers $200K in stolen equipment
- Judge gets more time to fight efforts to remove him from office
- State's bad bridges continue to raise concerns among officials