Barbour Vetoes Extension of Wind Pool Diversion

By: The Associated Press
By: The Associated Press

Gov. Haley Barbour has vetoed a wind pool bill because he says it is unnecessary. The bill did not include any money.

It would've added two years to a plan that diverted $20 million in insurance premium tax revenues into the Mississippi Windstorm Underwriting Association Reinsurance Assistance Fund, commonly called the wind pool.

The original diversion was signed into law in 2007 and is set to expire June 30.

Barbour says the state has put the entire $20 million into the wind pool.

The diversion was aimed at helping reduce insurance premiums on the coast.

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