SENATE AMENDMENT

    Bill No. CS for SB 1900

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Geller moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 1, line 11,

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16  insert:

17         Section 1.  (1)  The tax imposed by section 624.509,

18  Florida Statutes, does not apply to premiums received by

19  insurers in calendar year 1998 for residential property

20  insurance policies. For the purposes of this subsection, the

21  term "residential property insurance policies" has the same

22  meaning as the term "covered policy" as defined in section

23  215.555(2), Florida Statutes.

24         (2)  An insurer exempt from premium tax liability under

25  subsection (1) shall not be required to pay any additional

26  retaliatory tax levied pursuant to section 624.5091, Florida

27  Statutes, as a result of claiming such credit.

28         (3)  Within 60 days after January 1, 1999, each insurer

29  writing residential property insurance policies in this state

30  shall make a rate filing indicating the reduction in expenses

31  resulting from the exemption from the premium tax and

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    10:25 PM   04/27/98                             s1900c1c-29k4v




                                                  SENATE AMENDMENT

    Bill No. CS for SB 1900

    Amendment No.    





 1  retaliatory tax provided in subsection (1). An insurer may

 2  include this factor in a rate filing that indicates additional

 3  factors, as authorized by laws and rules applying to such rate

 4  filing.

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 6  (Redesignate subsequent sections.)

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 9  ================ T I T L E   A M E N D M E N T ===============

10  And the title is amended as follows:

11         On page 1, line 2, delete that line

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13  and insert:

14         An act relating to consumer financial relief;

15         exempting residential property insurance from

16         certain taxes; requiring rate filings that

17         indicate reduced expense resulting from such

18         tax exemptions; creating s.

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    10:25 PM   04/27/98                             s1900c1c-29k4v