Wednesday, April 4, 2007
Reacting to skyrocketing post-Katrina insurance costs on the coast, the Legislature passed HB 1500, which bolsters the state's Wind Pool Insurance Association by $20 million. The money is collected from taxes on statewide insurance premiums.
"The wind pool has to be expanded if we're going to get any new business or help our existing businesses recover on the Coast," said Rep. Diane Peranich, D-Pass Christian, who introduced the House version of the bill.
The Legislature tossed a major fishing line out to Toyota, offering a $300 million incentive package through SB 3215 to coax the automaker to northeast Mississippi. Toyota, which announced in February that it will build the plant, will bring more than 2,000 jobs to the state.