SENATE AMENDMENT

    Bill No. CS for SB 2532

    Amendment No.    

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

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13         Senate Amendment 

14         On page 4, line 18, through page 5, line 20, delete

15  those

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17  and insert:

18  assessments levied after July 1, 2001, full policy premium

19  value shall be reported prior to application of deductible

20  discounts or credits. This amount may be assessed as a

21  specific amount or as a percentage of net premiums payable as

22  the division may direct, provided such amount so assessed

23  shall not exceed 2.75 4 percent of such net premiums,

24  beginning January 1, 2001. The carriers insurance companies

25  may elect to make the payments required under s.

26  440.15(1)(f)(e) rather than having these payments made by the

27  division.  In that event, such payments will be credited to

28  the carriers insurance companies, and the amount due by the

29  carrier insurance company under this section will be reduced

30  accordingly.

31         (2)  The division shall provide by regulation for the

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2532

    Amendment No.    





 1  collection of the amounts assessed against each carrier.  Such

 2  amounts shall be paid within 30 days from the date that notice

 3  is served upon such carrier.  If such amounts are not paid

 4  within such period, there may be assessed for each 30 days the

 5  amount so assessed remains unpaid, a civil penalty equal to 10

 6  percent of the amount so unpaid, which shall be collected at

 7  the same time and a part of the amount assessed. The division

 8  may recover underpayments of assessments from a carrier for

 9  assessments levied against that carrier after January 1, 2001.

10  For those carriers who excluded ceded reinsurance premiums

11  from their assessments on or before January 1, 2000, the

12  division shall not recover any past underpayments of

13  assessments related to ceded reinsurance premiums.

14         (3)  If any carrier fails to pay the amounts assessed

15  against him or her under the provisions of this section within

16  60 days from the time such notice is served upon him or her,

17  the Department of Insurance upon being advised by the division

18  may suspend or revoke the authorization to insure compensation

19  in accordance with the procedure in s. 440.38(3)(a).  The

20  division may permit a carrier to remit any underpayment of

21  assessments for assessments levied after January 1, 2001,

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