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3 | 3 | | HB 1149 2022 |
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7 | 7 | | CODING: Words stricken are deletions; words underlined are additions. |
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8 | 8 | | hb1149-00 |
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9 | 9 | | Page 1 of 2 |
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10 | 10 | | 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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14 | 14 | | A bill to be entitled 1 |
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15 | 15 | | An act relating to surplus lines tax on flood 2 |
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16 | 16 | | insurance premiums; amending s. 626.932, F.S.; 3 |
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17 | 17 | | providing that premiums charged for surplus lines 4 |
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18 | 18 | | coverages for the peril of flood are not subject to a 5 |
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19 | 19 | | specified premium receipts tax; providing an effective 6 |
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20 | 20 | | date. 7 |
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21 | 21 | | 8 |
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22 | 22 | | Be It Enacted by the Legislature of the State of Florida: 9 |
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23 | 23 | | 10 |
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24 | 24 | | Section 1. Subsection (1) of section 626.932, Florida 11 |
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25 | 25 | | Statutes, is amended to read: 12 |
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26 | 26 | | 626.932 Surplus lines tax. — 13 |
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27 | 27 | | (1)(a) Except as otherwise provided in paragraph (b), the 14 |
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28 | 28 | | premiums charged for surplus lines coverages are subject to a 15 |
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29 | 29 | | premium receipts tax of 4.94 percent of all gross premiums 16 |
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30 | 30 | | charged for such insurance. The su rplus lines agent shall 17 |
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31 | 31 | | collect from the insured the amount of the tax at the time of 18 |
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32 | 32 | | the delivery of the cover note, certificate of insurance, 19 |
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33 | 33 | | policy, or other initial confirmation of insurance, in addition 20 |
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34 | 34 | | to the full amount of the gross premium charged by the insurer 21 |
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35 | 35 | | for the insurance. The surplus lines agent is prohibited from 22 |
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36 | 36 | | absorbing such tax or, as an inducement for insurance or for any 23 |
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37 | 37 | | other reason, rebating all or any part of such tax or of his or 24 |
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38 | 38 | | her commission. 25 |
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39 | 39 | | |
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40 | 40 | | HB 1149 2022 |
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41 | 41 | | |
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43 | 43 | | |
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44 | 44 | | CODING: Words stricken are deletions; words underlined are additions. |
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45 | 45 | | hb1149-00 |
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46 | 46 | | Page 2 of 2 |
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47 | 47 | | 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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51 | 51 | | (b) The premiums charged for sur plus lines coverages for 26 |
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52 | 52 | | the peril of flood are not subject to the premium receipts tax 27 |
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53 | 53 | | under this section. 28 |
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54 | 54 | | Section 2. This act shall take effect July 1, 2022. 29 |
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