The Florida State Senate approved a measure today requiring all homes in catastrophe prone areas valued at over $750,000 to have shutters.

In doing so, the upper chamber reconsidered its rejection of a proposal from Senate Banking and Insurance Committee Chairman Bill Posey, R-Rockledge, requiring shutters in catastrophe areas for homes valued at over $300,000.

The bill now moves to the House in the form of HB 1057. That chamber has until the Friday closing session to approve the bill.

Two key provisions in Mr. Posey’s mitigation package had been to require storm shutters or other opening protection on older homes in the windborne debris regions around the state. The Florida Building Code requires opening protections on new construction in the regions now.

Sam Miller, executive director of the Florida Insurance Council, said that he might have wished for a $300, threshold, but the measure approved today is an important achievement.

“Shutters are a critical component of mitigation and are required in all new construction and rehabilitated homes,” he said.

The bill also expresses the intent to have the My Safe Florida program provide 400,000 inspections for site-built single family homes and provide mitigation grants to at least 35,000 applicants before June 30, 2009.

In addition, the bill requires the creation of a no-interest mitigation project loan program by Dec. 31, 2007 for up to $5,000 for a period of three years.