Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. HB 5601
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: RE            .                                
                  04/25/2014           .                                

    1         Senate Amendment to Amendment (477076) (with title
    2  amendment)
    4         Between lines 315 and 316
    5  insert:
    6         Section 7. Effective upon this act becoming a law,
    7  subsection (5) of section 624.4094, Florida Statutes, is amended
    8  to read:
    9         624.4094 Bail bond premiums.—
   10         (5) This section does not affect the reporting or payment
   11  of insurance premium taxes under ss. 624.509, 624.5091, and
   12  624.5092, and the insurance premium tax and related excise taxes
   13  shall continue to be calculated using gross bail bond premiums.
   14         Section 8. Effective upon this act becoming a law,
   15  subsection (1) of section 624.509, Florida Statutes, is amended
   16  to read:
   17         624.509 Premium tax; rate and computation.—
   18         (1) In addition to the license taxes provided for in this
   19  chapter, each insurer shall also annually, and on or before
   20  March 1 in each year, except as to wet marine and transportation
   21  insurance taxed under s. 624.510, pay to the Department of
   22  Revenue a tax on insurance premiums, premiums for title
   23  insurance, or assessments, including membership fees and policy
   24  fees and gross deposits received from subscribers to reciprocal
   25  or interinsurance agreements, and on annuity premiums or
   26  considerations, received during the preceding calendar year, the
   27  amounts thereof to be determined as set forth in this section,
   28  to wit:
   29         (a) An amount equal to 1.75 percent of the gross amount of
   30  such receipts on account of life and health insurance policies
   31  covering persons resident in this state and on account of all
   32  other types of policies and contracts, (except annuity policies
   33  or contracts taxable under paragraph (b) and bail bond policies
   34  or contracts taxable under paragraph (c),) covering property,
   35  subjects, or risks located, resident, or to be performed in this
   36  state, omitting premiums on reinsurance accepted, and less
   37  return premiums or assessments, but without deductions:
   38         1. For reinsurance ceded to other insurers;
   39         2. For moneys paid upon surrender of policies or
   40  certificates for cash surrender value;
   41         3. For discounts or refunds for direct or prompt payment of
   42  premiums or assessments; and
   43         4. On account of dividends of any nature or amount paid and
   44  credited or allowed to holders of insurance policies;
   45  certificates; or surety, indemnity, reciprocal, or
   46  interinsurance contracts or agreements; and
   47         (b) An amount equal to 1 percent of the gross receipts on
   48  annuity policies or contracts paid by holders thereof in this
   49  state; and.
   50         (c) An amount equal to 1.75 percent of the direct written
   51  premiums for bail bonds, excluding any amounts retained by
   52  licensed bail bond agents or licensed managing general agents.
   54  ================= T I T L E  A M E N D M E N T ================
   55  And the title is amended as follows:
   56         Delete line 398
   57  and insert:
   58         pursue recovery; amending s. 624.4094, F.S.; deleting
   59         a provision relating to the reporting or payment of
   60         specified insurance premium taxes; amending s.
   61         624.509, F.S.; requiring an insurer to pay to the
   62         Department of Revenue a specified amount of the direct
   63         written premiums for bail bonds; specifying a period
   64         during which the