Davis: Smith raided CAT fund
"As part of his plan to provide a “major financial incentive” to insurance companies, Smith said he wanted to increase the amount of money in the Hurricane Catastrophe Fund and proposed increasing it by directing sales tax revenue from hurricane rebuilding efforts into the fund. [Smith hurricane plan, released 7/10/06]."
Smith's camp called it "nothing but more Washington political spin from the Washington political insider -- Congressman Jim Davis. The measure the Congressman misleadingly cites today was a small piece of the overall state budget that included $82 million for Everglades restoration among other things such as education and healthcare. Rod Smith is the only candidate for governor who has a plan to permanently fund the state's CAT Fund, and his hurricane insurance plan is the only plan that will actually lower homeowners' insurance rates."