NU Online News Service, April 26, 3:44 p.m. EDT

A Florida bill meant to restore Citizens Property Insurance Corp. as the state's last-resort insurer has stalled in the Senate Banking Committee.

The bill, SB 1714, looks to increase rates and decrease the value of a home that could be eligible for a policy. Rates in the private market would have to be 25 percent higher than Citizens' rates to obtain a policy—up from the current eligibility standard of 15 percent.

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