By Mr. Cabral of New Bedford, petition (accompanied by bill, House, No. 920) of Antonio F. D. Cabral and others relative to the payment of homeowners property insurance by owners of costal property.  Financial Services.

The Commonwealth of Massachusetts

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PETITION OF:

Antonio F. D. Cabral

Douglas W. Petersen

Mary E. Grant

Alice Hanlon Peisch

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In the Year Two Thousand and Seven.

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An Act relative to the Massachusetts Fair Plan.

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Chapter 175C of the General Laws, as appearing in the 2004 Official Edition, is hereby amended by adding the following section:-

Section 10. Coastal Homeowners Relief.

(a) As used in this subsection the following words shall, unless the context clearly requires otherwise, have the following meanings:-

“coastal homeowner”, an individual who is the owner of record of a coastal property which is his legal, primary residence.

“coastal property”, a residential property located in a municipality in Plymouth, Barnstable, Bristol, Dukes or Nantucket counties any portion of which is defined as a "coastal city or town" by the executive office of environmental affairs pursuant to section 3 of chapter 21F and is assessed by the municipality at $600,000 or less.

(b) The association may not charge a coastal homeowner a premium for basic property insurance during the first two years of coverage provided by the association an amount greater than twenty-five percent more than said coastal homeowner paid for homeowner’s insurance on his coastal property in the calendar year immediately preceding the coastal homeowner’s application to the association.