| 1 | Representative(s) Mahon offered the following: |
| 2 |
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| 3 | Amendment to Amendment (670987) (with title amendment) |
| 4 | Remove line(s) 5-69 and insert: |
| 5 | Section 6. Effective January 1, 2007, subsection (1) of |
| 6 | section 624.509, Florida Statutes, is amended to read: |
| 7 | 624.509 Premium tax; rate and computation.-- |
| 8 | (1) In addition to the license taxes provided for in this |
| 9 | chapter, each insurer shall also annually, and on or before |
| 10 | March 1 in each year, except as to wet marine and transportation |
| 11 | insurance taxed under s. 624.510, pay to the Department of |
| 12 | Revenue a tax on insurance premiums, premiums for title |
| 13 | insurance, or assessments, including membership fees and policy |
| 14 | fees and gross deposits received from subscribers to reciprocal |
| 15 | or interinsurance agreements, and on annuity premiums or |
| 16 | considerations, received during the preceding calendar year, the |
| 17 | amounts thereof to be determined as set forth in this section, |
| 18 | to wit: |
| 19 | (a) An amount equal to 1.75 percent of the gross amount of |
| 20 | such receipts on account of life and health insurance policies |
| 21 | covering persons resident in this state and on account of all |
| 22 | other types of policies and contracts, (except annuity policies |
| 23 | or contracts taxable under paragraph (b) and title insurance |
| 24 | policy premiums taxable under paragraph (c),) covering property, |
| 25 | subjects, or risks located, resident, or to be performed in this |
| 26 | state, omitting premiums on reinsurance accepted, and less |
| 27 | return premiums or assessments, but without deductions: |
| 28 | 1. For reinsurance ceded to other insurers; |
| 29 | 2. For moneys paid upon surrender of policies or |
| 30 | certificates for cash surrender value; |
| 31 | 3. For discounts or refunds for direct or prompt payment |
| 32 | of premiums or assessments; and |
| 33 | 4. On account of dividends of any nature or amount paid |
| 34 | and credited or allowed to holders of insurance policies; |
| 35 | certificates; or surety, indemnity, reciprocal, or |
| 36 | interinsurance contracts or agreements.; and |
| 37 | (b) An amount equal to 1 percent of the gross receipts on |
| 38 | annuity policies or contracts paid by holders thereof in this |
| 39 | state. |
| 40 | (c) An amount equal to 0.6 percent of the premiums for |
| 41 | title insurance policies on property located in this state. For |
| 42 | purposes of this paragraph, the term "premium" has the same |
| 43 | meaning as provided in s. 627.7711(2). |
| 44 | Section 7. Except as otherwise expressly provided in this |
| 45 | act, this act shall take effect July 1, 2006. |
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| 48 | ======== T I T L E A M E N D M E N T ======== |
| 49 | Remove line(s) 91-94 and insert: |
| 50 | appropriation; amending s. 624.509, F.S.; providing for separate |
| 51 | taxation of certain title insurance premiums; providing a |
| 52 | definition; |