Florida 2022 Regular Session

Florida House Bill H1149 Compare Versions

Only one version of the bill is available at this time.
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1010 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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1414 A bill to be entitled 1
1515 An act relating to surplus lines tax on flood 2
1616 insurance premiums; amending s. 626.932, F.S.; 3
1717 providing that premiums charged for surplus lines 4
1818 coverages for the peril of flood are not subject to a 5
1919 specified premium receipts tax; providing an effective 6
2020 date. 7
2121 8
2222 Be It Enacted by the Legislature of the State of Florida: 9
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2424 Section 1. Subsection (1) of section 626.932, Florida 11
2525 Statutes, is amended to read: 12
2626 626.932 Surplus lines tax. — 13
2727 (1)(a) Except as otherwise provided in paragraph (b), the 14
2828 premiums charged for surplus lines coverages are subject to a 15
2929 premium receipts tax of 4.94 percent of all gross premiums 16
3030 charged for such insurance. The su rplus lines agent shall 17
3131 collect from the insured the amount of the tax at the time of 18
3232 the delivery of the cover note, certificate of insurance, 19
3333 policy, or other initial confirmation of insurance, in addition 20
3434 to the full amount of the gross premium charged by the insurer 21
3535 for the insurance. The surplus lines agent is prohibited from 22
3636 absorbing such tax or, as an inducement for insurance or for any 23
3737 other reason, rebating all or any part of such tax or of his or 24
3838 her commission. 25
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4747 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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5151 (b) The premiums charged for sur plus lines coverages for 26
5252 the peril of flood are not subject to the premium receipts tax 27
5353 under this section. 28
5454 Section 2. This act shall take effect July 1, 2022. 29