Bill Text: FL S1390 | 2014 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Bail Bond Premiums

Spectrum: Bipartisan Bill

Status: (Failed) 2014-05-02 - Died in Appropriations, companion bill(s) passed, see HB 5601 (Ch. 2014-38) [S1390 Detail]

Download: Florida-2014-S1390-Introduced.html

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       Florida Senate - 2014                                    SB 1390
       
       
        
       By Senator Brandes
       
       
       
       
       
       22-00419A-14                                          20141390__
    1                        A bill to be entitled                      
    2         An act relating to bail bond premiums; amending s.
    3         624.4094, F.S., and reenacting subsection (1);
    4         specifying the amount of direct written premiums for
    5         bail bonds for the purpose of calculating specified
    6         taxes; providing an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Subsection (5) of section 624.4094, Florida
   11  Statutes, is amended, and subsection (1) of that section is
   12  reenacted, to read:
   13         624.4094 Bail bond premiums.—
   14         (1) The Legislature finds that a significant portion of
   15  bail bond premiums is retained by the licensed bail bond agents
   16  or licensed managing general agents. For purposes of reporting
   17  in financial statements required to be filed with the office
   18  pursuant to s. 624.424, direct written premiums for bail bonds
   19  by a domestic insurer in this state shall be reported net of any
   20  amounts retained by licensed bail bond agents or licensed
   21  managing general agents. However, in no case shall the direct
   22  written premiums for bail bonds be less than 6.5 percent of the
   23  total consideration received by the agent for all bail bonds
   24  written by the agent. This subsection also applies to any
   25  determination of compliance with s. 624.4095.
   26         (5) This section applies to does not affect the reporting
   27  and or payment of insurance premium taxes under ss. 624.509,
   28  624.5091, and 624.5092, and the insurance premium tax and
   29  related excise taxes shall continue to be calculated using the
   30  amount of direct written premiums for bail bonds as determined
   31  pursuant to subsection (1) gross bail bond premiums.
   32         Section 2. This act shall take effect upon becoming a law.