SENATE AMENDMENT

    Bill No. CS/HB 339

    Amendment No. ___

                            CHAMBER ACTION
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11  Senator Holzendorf moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 8, between lines 18 and 19,

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16  insert:

17         Section 10.  Subsection (1) of section 624.4072,

18  Florida Statutes, is amended to read:

19         624.4072  Minority-owned property and casualty

20  insurers; limited exemption for taxation and assessments.--

21         (1)  A minority business that is at least 51 percent

22  owned by minority persons, as defined in s. 288.703(3),

23  initially issued a certificate of authority in this state as

24  an authorized insurer after May 1, 1998, to write property and

25  casualty insurance shall be exempt, for a period not to exceed

26  10 5 years from the date of receiving its certificate of

27  authority, from the following taxes and assessments:

28         (a)  Taxes imposed under ss. 175.101, 185.08, and

29  624.509;

30         (b)  Assessments by the Florida Residential Property

31  and Casualty Joint Underwriting Association or by the Florida

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                                                  SENATE AMENDMENT

    Bill No. CS/HB 339

    Amendment No. ___





  1  Windstorm Underwriting Association, as provided under s.

  2  627.351, except for emergency assessments collected from

  3  policyholders pursuant to s. 627.351(2)(b)2.d.(III) and

  4  (6)(b)3.d. Any such insurer shall be a member insurer of the

  5  Florida Windstorm Underwriting Association and the Florida

  6  Residential Property and Casualty Joint Underwriting

  7  Association. The premiums of such insurer shall be included in

  8  determining, for the Florida Windstorm Underwriting

  9  Association, the aggregate statewide direct written premium

10  for property insurance and in determining, for the Florida

11  Residential Property and Casualty Joint Underwriting

12  Association, the aggregate statewide direct written premium

13  for the subject lines of business for all member insurers.

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15  (Redesignate subsequent sections.)

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

19  And the title is amended as follows:

20         On page 1, line 16, following the semicolon

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22  insert:

23         amending s. 624.4072, F.S.; revising tax

24         exemptions for certain minority-owned property

25         and casualty insurers;

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