Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. SB 1390
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/19/2014           .                                

    1         Senate Amendment (with title amendment)
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Subsection (5) of section 624.4094, Florida
    6  Statutes, is amended to read:
    7         624.4094 Bail bond premiums.—
    8         (5) This section does not affect the reporting or payment
    9  of insurance premium taxes under ss. 624.509, 624.5091, and
   10  624.5092, and the insurance premium tax and related excise taxes
   11  shall continue to be calculated using gross bail bond premiums.
   12         Section 2. Subsection (1) of section 624.509, Florida
   13  Statutes, is amended to read:
   14         624.509 Premium tax; rate and computation.—
   15         (1) In addition to the license taxes provided for in this
   16  chapter, each insurer shall also annually, and on or before
   17  March 1 in each year, except as to wet marine and transportation
   18  insurance taxed under s. 624.510, pay to the Department of
   19  Revenue a tax on insurance premiums, premiums for title
   20  insurance, or assessments, including membership fees and policy
   21  fees and gross deposits received from subscribers to reciprocal
   22  or interinsurance agreements, and on annuity premiums or
   23  considerations, received during the preceding calendar year, the
   24  amounts thereof to be determined as set forth in this section,
   25  to wit:
   26         (a) An amount equal to 1.75 percent of the gross amount of
   27  such receipts on account of life and health insurance policies
   28  covering persons resident in this state and on account of all
   29  other types of policies and contracts, (except annuity policies
   30  or contracts taxable under paragraph (b) and bail bond policies
   31  or contracts taxable under paragraph (c),) covering property,
   32  subjects, or risks located, resident, or to be performed in this
   33  state, omitting premiums on reinsurance accepted, and less
   34  return premiums or assessments, but without deductions:
   35         1. For reinsurance ceded to other insurers;
   36         2. For moneys paid upon surrender of policies or
   37  certificates for cash surrender value;
   38         3. For discounts or refunds for direct or prompt payment of
   39  premiums or assessments; and
   40         4. On account of dividends of any nature or amount paid and
   41  credited or allowed to holders of insurance policies;
   42  certificates; or surety, indemnity, reciprocal, or
   43  interinsurance contracts or agreements; and
   44         (b) An amount equal to 1 percent of the gross receipts on
   45  annuity policies or contracts paid by holders thereof in this
   46  state; and.
   47         (c) An amount equal to 1.75 percent of the direct written
   48  premiums for bail bonds, excluding any amounts retained by
   49  licensed bail bond agents or licensed managing general agents.
   50         Section 3. This act shall take effect upon becoming a law.
   52  ================= T I T L E  A M E N D M E N T ================
   53  And the title is amended as follows:
   54         Delete everything before the enacting clause
   55  and insert:
   56                        A bill to be entitled                      
   57         An act relating to bail bond premiums; amending s.
   58         624.4094, F.S.; deleting a provision relating to the
   59         reporting or payment of specified insurance premium
   60         taxes; amending s. 624.509, F.S.; requiring an insurer
   61         to pay to the Department of Revenue a specified amount
   62         of the direct written premiums for bail bonds;
   63         providing an effective date.