Senate Bill 0902

    Florida Senate - 1998                                   SB 902

    By Senator McKay





    26-705-98

  1                      A bill to be entitled

  2         An act relating to Florida Life and Health

  3         Guaranty Association assessments; amending s.

  4         631.718, F.S.; revising a provision providing a

  5         preferential rate of assessment for insurance

  6         companies that issue certain annuity contracts;

  7         providing an effective date.

  8

  9  Be It Enacted by the Legislature of the State of Florida:

10

11         Section 1.  Subsection (9) of section 631.718, Florida

12  Statutes, is amended to read:

13         631.718  Assessments.--

14         (9)  Notwithstanding any provision to the contrary, no

15  member insurer that is a nonprofit insurance company which

16  issues annuity contracts or group annuity contracts pursuant

17  to s. 121.35, or for the benefit of employees of educational

18  institutions situated in this state may be assessed in any one

19  calendar year an amount greater than the amount which it paid

20  to this state in the previous year as premium tax and

21  corporate tax on the business to which this part applies or

22  0.1 percent of written premium on the such business in this

23  state to which this part applies, whichever is greater.

24         Section 2.  This act shall take effect October 1, 1998.

25

26            *****************************************

27                          SENATE SUMMARY

28    Provides that no member insurer of the Florida Life and
      Health Guaranty Association which issues annuity
29    contracts or group annuity contracts pursuant to s.
      121.35, F.S., may be assessed in any one calendar year an
30    amount greater than 0.1 percent of written premiums on
      the business in this state.
31

                                  1