CODING: Words stricken are deletions; words underlined are additions.



                                                   HOUSE AMENDMENT

                                            Bill No. CS/CS/HB 1095

    Amendment No. ___ (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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  4  ______________________________________________________________

  5                                           ORIGINAL STAMP BELOW

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  7

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  9

10  ______________________________________________________________

11  Representative(s) Smith offered the following:

12

13         Amendment (with title amendment) 

14  Remove everything after the enacting clause

15

16  and insert:

17         Section 1.  Subsection (9) is added to section 199.185,

18  Florida Statutes, to read:

19         199.185  Property exempted from annual and

20  non-recurring taxes.--

21         (9)(a)  Mortgages and liens recorded to secure the

22  performance of an indemnitor to a surety by insurance

23  companies licensed in the State of Florida that issue surety

24  are exempt from this chapter at the time of recording the

25  mortgage or lien. The clerk of the court shall accept such

26  recordings at the time of submittal and such mortgage or lien

27  shall have a priority as of the date of recording over any

28  subsequent filings by other parties notwithstanding that the

29  enforcement of the recorded mortgage or lien on the indemnity

30  may come subsequent to the later recording and any action

31  against the indemnitor affecting said mortgage or lien shall

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                                                   HOUSE AMENDMENT

                                            Bill No. CS/CS/HB 1095

    Amendment No. ___ (for drafter's use only)





  1  provide notice to the insurance company.

  2         (b)  Upon exercise of the rights under the mortgage or

  3  lien, all applicable taxes due pursuant to this chapter shall

  4  become due and payable as if the mortgage or lien were

  5  initially executed and recorded without this exemption.

  6         (c)  Failure to pay tax at time of exercise shall not

  7  affect the mortgage or lien, but any person who willfully

  8  violates or fails to comply with this subsection is subject to

  9  the penalties set forth in s. 199.282.

10         Section 2.  Subsection (5) is added to section 201.23,

11  Florida Statutes, to read:

12         201.23  Foreign notes and other written obligations

13  exempt.--

14         (5)  Mortgages and liens recorded to secure the

15  performance of an indemnitor to a surety by insurance

16  companies licensed in this state which issue surety are exempt

17  from this chapter at the time of recording the mortgage or

18  lien. The clerk of the court shall accept such recordings at

19  the time of submittal, and such mortgage or lien shall have a

20  priority as of the date of recording over any subsequent

21  filings by other parties, notwithstanding that the enforcement

22  of the recorded mortgage or lien on the indemnity may occur

23  after the later recording and any action against the

24  indemnitor affecting the mortgage or lien provides notice to

25  the insurance company. Upon exercise of the rights under the

26  mortgage or lien, all applicable taxes due pursuant to this

27  chapter shall become due and payable as if the mortgage or

28  lien were initially executed and recorded without this

29  exception. Failure to pay any tax at time of exercise shall

30  not affect the mortgage or lien, but any person who willfully

31  fails or refuses to pay tax due under this subsection commits

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                                                   HOUSE AMENDMENT

                                            Bill No. CS/CS/HB 1095

    Amendment No. ___ (for drafter's use only)





  1  a misdemeanor of the first degree, punishable as provided in

  2  s. 775.082 or s. 775.083.

  3         Section 3.  Section 210.08, Florida Statutes, is

  4  amended to read:

  5         210.08  Bond for payment of taxes.--Each dealer, agent,

  6  or distributing agent shall file with the division a surety

  7  bond, certificate of deposit, or irrevocable letter of credit

  8  acceptable to the division in the sum of $10,000 as surety for

  9  the payment of all taxes; provided, however, that where in the

10  discretion of the division the amount of business done by the

11  dealer, agent, or distributing agent is of such volume that a

12  bond, certificate of deposit, or irrevocable letter of credit

13  of less than $10,000 will be adequate to secure the payment of

14  all taxes assessed as authorized by the cigarette tax law, the

15  division may accept a bond, certificate of deposit, or

16  irrevocable letter of credit in a lesser sum than $10,000, but

17  in no event shall it accept a bond, certificate of deposit, or

18  irrevocable letter of credit of less than $1,000, and it may

19  at any time in its discretion require any bond, certificate of

20  deposit, or irrevocable letter of credit in an amount less

21  than $10,000 to be increased not to exceed $10,000.

22         Section 4.  Subsection (3) of section 255.05, Florida

23  Statutes, is amended to read:

24         255.05  Bond of contractor constructing public

25  buildings; form; action by materialmen.--

26         (3)  The bond required in subsection (1) shall be in

27  the following form, and any deviation of the bond required by

28  the public owner or furnished by the contractor shall be

29  disregarded may be in substantially the following form:

30

31                     PUBLIC CONSTRUCTION BOND

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                                                   HOUSE AMENDMENT

                                            Bill No. CS/CS/HB 1095

    Amendment No. ___ (for drafter's use only)





  1

  2         BY THIS BOND, We ....{enter name principal business

  3  address, and telephone number of contractor}, as Principal and

  4  {enter name, principal business address, and telephone number

  5  of surety}...., a corporation, authorized to do business in

  6  Florida as a surety insurer, as Surety, are bound to ....

  7  {enter name, principal business address, and telephone number

  8  of public owner}, herein called Owner, in the sum of

  9  $....{enter contract amount as penal sum of bond}, for payment

10  of which we bind ourselves, our heirs, personal

11  representatives, successors, and assigns, jointly and

12  severally.

13

14         WHEREAS, Principal has entered into a contract with

15  Owner for ....{enter description of project sufficient to

16  identify it such as a legal description of property, the

17  street address of property, and a general description of the

18  improvement to be constructed}, which is Owner's Contract No.

19  ....{enter contract number} belonging to ....{enter name,

20  principal business address, and telephone number of owner of

21  property if different from the contract public entity}

22  (hereinafter the Project); and

23

24         WHEREAS, this Bond is given to meet the requirements of

25  Section 255.05, Florida Statutes, which shall control the

26  respective rights and obligations of the Principal, Surety,

27  Owner, and any claimant.

28

29         NOW, THEREFORE, THE CONDITION OF THIS BOND is that if

30  Principal:

31         1.  Performs the contract dated ...., ...., {enter date

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                                                   HOUSE AMENDMENT

                                            Bill No. CS/CS/HB 1095

    Amendment No. ___ (for drafter's use only)





  1  of contract} between Principal and Owner for construction of

  2  the Project ...., the contract being made a part of this bond

  3  by reference, at the times and in the manner prescribed in the

  4  contract; and

  5         2.  Promptly makes payments to all claimants, as

  6  defined in Section 255.05(1), Florida Statutes, supplying

  7  Principal with labor, materials, or supplies, used directly or

  8  indirectly by Principal in the prosecution of the work

  9  provided for in the contract; and

10         3.  Pays Owner all losses, damages, expenses, costs,

11  and attorney's fees, including appellate proceedings, that

12  Owner sustains because of a default by Principal under the

13  contract; and

14         4.  Performs the guarantee of all work and materials

15  furnished under the contract for the time specified in the

16  contract, then this bond is void; otherwise it remains in full

17  force.

18         Any changes in or under the contract documents and

19  compliance or noncompliance with any formalities connected

20  with the contract or the changes does not affect Surety's

21  obligation under this bond.

22

23         DATED ON ...., .....

24                                            ...(Date of Bond)...

25                                ...(Name of Principal)...

26                       By ...(As Authorized Attorney in Fact)...

27                                ...(Name of Surety)...

28

29         Section 5.  Subsection (3) of section 713.24, Florida

30  Statutes, is amended to read:

31         713.24  Transfer of liens to security.--

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                                                   HOUSE AMENDMENT

                                            Bill No. CS/CS/HB 1095

    Amendment No. ___ (for drafter's use only)





  1         (3)  Any party having an interest in such security or

  2  the property from which the lien was transferred may at any

  3  time, and any number of times, file a complaint in chancery in

  4  the circuit court of the county where such security is

  5  deposited, or file a motion in a pending action to enforce a

  6  lien, for an order to require additional security, reduction

  7  of security, change or substitution of sureties, payment of

  8  discharge thereof, or any other matter affecting the said

  9  security. If the court finds that the amount of the deposit or

10  bond in excess of the amount claimed in the claim of lien is

11  insufficient to pay the lienor's attorney's fees and court

12  costs incurred in the action to enforce the lien, the court

13  must increase the amount of the cash deposit or lien transfer

14  bond. However, the surety has no liability in excess of the

15  lien transfer bond filed with the clerk unless it provides a

16  new or amended bond.

17         Section 6.  This act shall take effect July 1, 2002.

18

19

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

21  And the title is amended as follows:

22  remove:  the entire title

23

24  and insert:

25                  A bill to be entitled

26         An act relating to sureties; amending ss.

27         199.185, 201.23, F.S.; exempting mortgages and

28         liens recorded to secure performance of an

29         indemnitor to a surety from the intangible

30         personal property tax and the excise tax on

31         documents at time of recording; providing that

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                                                   HOUSE AMENDMENT

                                            Bill No. CS/CS/HB 1095

    Amendment No. ___ (for drafter's use only)





  1         those taxes become due upon exercise of rights

  2         under the mortgage or lien; providing that

  3         failure to pay intangibles tax is subject to

  4         criminal penalties in s. 199.282, F.S.;

  5         providing that failure to pay excise taxes when

  6         due is a first degree misdemeanor; amending s.

  7         210.08, F.S.; providing methods other than a

  8         bond for dealers, agents, or distributing

  9         agents to guarantee tax payment to the Division

10         of Alcoholic Beverages and Tobacco of the

11         Department of Business and Professional

12         Regulation; amending s. 255.05, F.S.; requiring

13         public construction bonds to be the same as the

14         statutory form; revising the statutory form;

15         amending s. 713.24, F.S.; providing that

16         sureties have no liability in excess of a lien

17         transfer bond; providing an exception;

18         providing an effective date.

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    File original & 9 copies    03/13/02
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