Senate Bill sb2164c1
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Florida Senate - 2002 CS for SB 2164
By the Committee on Finance and Taxation; and Senator Pruitt
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1 A bill to be entitled
2 An act relating to firefighter and municipal
3 police pensions; creating s. 175.1015, F.S.;
4 authorizing the Department of Revenue to create
5 and maintain a database for use by insurers;
6 providing insurers with incentives for using
7 the database; providing penalties for failure
8 to use the database; requiring local
9 governments to provide information to the
10 department; appropriating funds to the
11 department for the administration of the
12 database; authorizing the department to adopt
13 rules; creating s. 185.085, F.S.; authorizing
14 the Department of Revenue to create and
15 maintain a database for use by insurers;
16 providing incentives to insurers for using the
17 database and penalties for failure to use the
18 database; requiring local governments to
19 provide information to the department;
20 appropriating funds to the department for the
21 administration of the database; authorizing the
22 department to adopt rules; providing for
23 distribution of tax revenues through 2006;
24 amending s. 175.032, F.S.; providing an
25 extended time period for the recognition of
26 supplemental firefighter pension plans;
27 amending s. 175.351, F.S.; defining the term
28 "extra benefits" with respect to pension plans
29 for firefighters; providing an extended time
30 period for the recognition of supplemental
31 firefighter pension plans; amending s. 185.02,
1
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Florida Senate - 2002 CS for SB 2164
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1 F.S.; providing an extended time period for the
2 recognition of supplemental municipal police
3 officer pension plans; amending s. 185.35,
4 F.S.; providing for the meaning of the term
5 "extra benefits" with respect to pension plans
6 for municipal police officers; providing an
7 extended time period for the recognition of
8 supplemental municipal police officer pension
9 plans; providing an appropriation to the
10 Department of Revenue; providing an effective
11 date.
12
13 Be It Enacted by the Legislature of the State of Florida:
14
15 Section 1. Section 175.1015, Florida Statutes, is
16 created to read:
17 175.1015 Determination of local premium tax situs.--
18 (1)(a) Any insurance company that is obligated to
19 report and remit the excise tax on property insurance premiums
20 imposed under s. 175.101 shall be held harmless from any
21 liability for taxes, interest, or penalties that would
22 otherwise be due solely as a result of an assignment of an
23 insured property to an incorrect local taxing jurisdiction if
24 the insurance company exercises due diligence in applying an
25 electronic database provided by the Department of Revenue
26 under subsection (2). Insurance companies that do not use the
27 electronic database provided by the Department of Revenue or
28 that do not exercise due diligence in applying the electronic
29 database are subject to a 0.5-percent penalty on the portion
30 of the premium pertaining to any insured risk that is
31 improperly assigned, whether assigned to an improper local
2
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1 taxing jurisdiction, not assigned to a local taxing
2 jurisdiction when it should be assigned to a local taxing
3 jurisdiction, or assigned to a local taxing jurisdiction when
4 it should not be assigned to a local taxing jurisdiction.
5 (b) Any insurance company that is obligated to report
6 and remit the excise tax on commercial property insurance
7 premiums imposed under s. 175.101 and is unable, after due
8 diligence, to assign an insured property to a specific local
9 taxing jurisdiction for purposes of complying with paragraph
10 (a) shall remit the excise tax on commercial property
11 insurance premiums using a methodology of apportionment in a
12 manner consistent with the remittance for the 2001 calendar
13 year.
14 (2)(a) The Department of Revenue shall, subject to
15 legislative appropriation, create as soon as practical and
16 feasible, and thereafter shall maintain, an electronic
17 database that gives due and proper regard to any format that
18 is approved by the American National Standards Institute's
19 Accredited Standards Committee X12 and that designates for
20 each street address and address range in the state, including
21 any multiple postal street addresses applicable to one street
22 location, the local taxing jurisdiction in which the street
23 address and address range is located and the appropriate code
24 for each such participating local taxing jurisdiction,
25 identified by one nationwide standard numeric code. The
26 nationwide standard numeric code must contain the same number
27 of numeric digits, and each digit or combination of digits
28 must refer to the same level of taxing jurisdiction throughout
29 the United States and must be in a format similar to FIPS 55-3
30 or other appropriate standard approved by the Federation of
31 Tax Administrators and the Multistate Tax Commission. Each
3
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1 address or address range must be provided in standard postal
2 format, including the street number, street number range,
3 street name, and zip code. Each year after the creation of the
4 initial database, the Department of Revenue shall annually
5 create and maintain a database for the current tax year. Each
6 annual database must be calendar-year specific.
7 (b)1. Each participating local taxing jurisdiction
8 shall furnish to the Department of Revenue all information
9 needed to create the electronic database as soon as practical
10 and feasible. The information furnished to the Department of
11 Revenue must specify an effective date.
12 2. Each participating local taxing jurisdiction shall
13 furnish to the Department of Revenue all information needed to
14 create and update the current year's database, including
15 changes in annexations, incorporations, and reorganizations
16 and any other changes in jurisdictional boundaries, as well as
17 changes in eligibility to participate in the excise tax
18 imposed under this chapter. The information must specify an
19 effective date and must be furnished to the Department of
20 Revenue by July 1 of the current year.
21 3. The Department of Revenue shall create and update
22 the current year's database in accordance with the information
23 furnished by participating local taxing jurisdictions under
24 subparagraph 1. or subparagraph 2., as appropriate. To the
25 extent practicable, the Department of Revenue shall post each
26 new annual database on a web site by September 1 of each year.
27 Each participating local taxing jurisdiction shall have access
28 to this web site and, within 30 days thereafter, shall provide
29 any corrections to the Department of Revenue. The Department
30 of Revenue shall finalize the current year's database and post
31 it on a web site by November 1 of the tax year. If a dispute
4
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1 in jurisdictional boundaries cannot be resolved so that
2 changes in boundaries may be included, as appropriate, in the
3 database by November 1, the changes may not be retroactively
4 included in the current year's database and the boundaries
5 will remain the same as in the previous year's database. The
6 finalized database must be used in assigning policies and
7 premiums to the proper local taxing jurisdiction for the
8 insurance premium tax return due on the following March 1. The
9 Department of Revenue shall furnish the annual database on
10 magnetic or electronic media to any insurance company or
11 vendor that requests the database for the sole purpose of
12 assigning insurance premiums to the proper local taxing
13 jurisdiction for the excise tax imposed under this chapter.
14 Information contained in the electronic database is conclusive
15 for purposes of this chapter. The electronic database is not
16 an order, a rule, or a policy of general applicability.
17 4. Each annual database must identify the additions,
18 deletions, and other changes to the preceding version of the
19 database.
20 (3)(a) As used in this section, the term "due
21 diligence" means the care and attention that is expected from
22 and is ordinarily exercised by a reasonable and prudent person
23 under the circumstances.
24 (b) Notwithstanding any law to the contrary, an
25 insurance company is exercising due diligence if the insurance
26 company complies with the provisions of paragraph (1)(b) or if
27 the insurance company assigns an insured's premium to local
28 taxing jurisdictions in accordance with the Department of
29 Revenue's annual database and:
30 1. Expends reasonable resources to accurately and
31 reliably implement such method;
5
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1 2. Maintains adequate internal controls to correctly
2 include in its database of policyholders the location of the
3 property insured, in the proper address format, so that
4 matching with the department's database is accurate; and
5 3. Corrects errors in the assignment of addresses to
6 local taxing jurisdictions within 120 days after the insurance
7 company discovers the errors.
8 (4) There is annually appropriated from the moneys
9 collected under this chapter and deposited in the Police and
10 Firefighter's Premium Tax Trust Fund an amount sufficient to
11 pay the expenses of the Department of Revenue in administering
12 this section, but not to exceed $50,000 annually, adjusted
13 annually by the lesser of a 5-percent increase or the
14 percentage of growth in the total collections.
15 (5) The Department of Revenue shall adopt rules
16 necessary to administer this section, including rules
17 establishing procedures and forms.
18 (6) Any insurer that is obligated to collect and remit
19 the tax on property insurance imposed under s. 175.101 shall
20 be held harmless from liability, including, but not limited
21 to, any tax, interest, or penalties, which would otherwise be
22 due solely as a result of an assignment of an insured property
23 to an incorrect local taxing jurisdiction, based on the
24 collection and remission of the tax accruing before the
25 effective date of this section, provided the insurer collects
26 and reports this tax consistent with filings for periods
27 before the effective date of this section. Further, any
28 insurer that is obligated to collect and remit the tax on
29 property insurance imposed under this section shall not be
30 subject to an examination under s. 624.316 or s. 624.3161
31 which would occur solely as a result of an assignment of an
6
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1 insured property to an incorrect local taxing jurisdiction,
2 based on the collection and remission of such tax accruing
3 before the effective date of this section.
4 Section 2. Section 185.085, Florida Statutes, is
5 created to read:
6 185.085 Determination of local premium tax situs.--
7 (1)(a) Any insurance company that is obligated to
8 report and remit the excise tax on casualty insurance premiums
9 imposed under s. 185.08 shall be held harmless from any
10 liability for taxes, interest, or penalties that would
11 otherwise be due solely as a result of an assignment of an
12 insured property to an incorrect local taxing jurisdiction if
13 the insurance company exercises due diligence in applying an
14 electronic database provided by the Department of Revenue
15 under subsection (2). Insurance companies that do not use the
16 electronic database provided by the Department of Revenue or
17 that do not exercise due diligence in applying the electronic
18 database are subject to a 0.5-percent penalty on the portion
19 of the premium pertaining to any insured risk that is
20 improperly assigned, whether assigned to an improper local
21 taxing jurisdiction, not assigned to a local taxing
22 jurisdiction when it should be assigned to a local taxing
23 jurisdiction, or assigned to a local taxing jurisdiction when
24 it should not be assigned to a local taxing jurisdiction.
25 (b) Any insurance company that is obligated to report
26 and remit the excise tax on commercial casualty insurance
27 premiums imposed under s. 185.08 and is unable, after due
28 diligence, to assign an insured property to a specific local
29 taxing jurisdiction for purposes of complying with paragraph
30 (a) shall remit the excise tax on commercial casualty
31 insurance premiums using a methodology of apportionment in a
7
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1 manner consistent with the remittance for the 2001 calendar
2 year.
3 (2)(a) The Department of Revenue shall, subject to
4 legislative appropriation, create as soon as practical and
5 feasible, and thereafter shall maintain, an electronic
6 database that gives due and proper regard to any format that
7 is approved by the American National Standards Institute's
8 Accredited Standards Committee X12 and that designates for
9 each street address and address range in the state, including
10 any multiple postal street addresses applicable to one street
11 location, the local taxing jurisdiction in which the street
12 address and address range is located and the appropriate code
13 for each such participating local taxing jurisdiction,
14 identified by one nationwide standard numeric code. The
15 nationwide standard numeric code must contain the same number
16 of numeric digits, and each digit or combination of digits
17 must refer to the same level of taxing jurisdiction throughout
18 the United States and must be in a format similar to FIPS 55-3
19 or other appropriate standard approved by the Federation of
20 Tax Administrators and the Multistate Tax Commission. Each
21 address or address range must be provided in standard postal
22 format, including the street number, street number range,
23 street name, and zip code. Each year after the creation of the
24 initial database, the Department of Revenue shall annually
25 create and maintain a database for the current tax year. Each
26 annual database must be calendar-year specific.
27 (b)1. Each participating local taxing jurisdiction
28 shall furnish to the Department of Revenue all information
29 needed to create the electronic database as soon as practical
30 and feasible. The information furnished to the Department of
31 Revenue must specify an effective date.
8
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1 2. Each participating local taxing jurisdiction shall
2 furnish to the Department of Revenue all information needed to
3 create and update the current year's database, including
4 changes in annexations, incorporations, and reorganizations
5 and any other changes in jurisdictional boundaries, as well as
6 changes in eligibility to participate in the excise tax
7 imposed under this chapter. The information must specify an
8 effective date and must be furnished to the Department of
9 Revenue by July 1 of the current year.
10 3. The Department of Revenue shall create and update
11 the current year's database in accordance with the information
12 furnished by participating local taxing jurisdictions under
13 subparagraph 1. or subparagraph 2., as appropriate. To the
14 extent practicable, the Department of Revenue shall post each
15 new annual database on a web site by September 1 of each year.
16 Each participating local taxing jurisdiction shall have access
17 to this web site and, within 30 days thereafter, shall provide
18 any corrections to the Department of Revenue. The Department
19 of Revenue shall finalize the current year's database and post
20 it on a web site by November 1 of the tax year. If a dispute
21 in jurisdictional boundaries cannot be resolved so that
22 changes in boundaries may be included, as appropriate, in the
23 database by November 1, the changes may not be retroactively
24 included in the current year's database and the boundaries
25 will remain the same as in the previous year's database. The
26 finalized database must be used in assigning policies and
27 premiums to the proper local taxing jurisdiction for the
28 insurance premium tax return due on the following March 1. The
29 Department of Revenue shall furnish the annual database on
30 magnetic or electronic media to any insurance company or
31 vendor that requests the database for the sole purpose of
9
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1 assigning insurance premiums to the proper local taxing
2 jurisdiction for the excise tax imposed under this chapter.
3 Information contained in the electronic database is conclusive
4 for purposes of this chapter. The electronic database is not
5 an order, a rule, or a policy of general applicability.
6 4. Each annual database must identify the additions,
7 deletions, and other changes to the preceding version of the
8 database.
9 (3)(a) As used in this section, the term "due
10 diligence" means the care and attention that is expected from
11 and is ordinarily exercised by a reasonable and prudent person
12 under the circumstances.
13 (b) Notwithstanding any law to the contrary, an
14 insurance company is exercising due diligence if the insurance
15 company complies with the provisions of paragraph (1)(b) or if
16 the insurance company assigns an insured's premium to local
17 taxing jurisdictions in accordance with the Department of
18 Revenue's annual database and:
19 1. Expends reasonable resources to accurately and
20 reliably implement such method;
21 2. Maintains adequate internal controls to correctly
22 include in its database of policyholders the location of the
23 property insured, in the proper address format, so that
24 matching with the department's database is accurate; and
25 3. Corrects errors in the assignment of addresses to
26 local taxing jurisdictions within 120 days after the insurance
27 company discovers the errors.
28 (4) There is annually appropriated from the moneys
29 collected under this chapter and deposited in the Police and
30 Firefighter's Premium Tax Trust Fund an amount sufficient to
31 pay the expenses of the Department of Revenue in administering
10
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1 this section, but not to exceed $50,000 annually, adjusted
2 annually by the lesser of a 5-percent increase or the
3 percentage of growth in the total collections.
4 (5) The Department of Revenue shall adopt rules
5 necessary to administer this section, including rules
6 establishing procedures and forms.
7 (6)(a) Notwithstanding any other provision of law, no
8 methodology, formula, or database that is adopted in any year
9 after the effective date of this section may result in a
10 distribution to a participating municipality that has a
11 retirement plan created pursuant to this chapter of an amount
12 of excise tax which is less than the amount distributed to
13 such participating municipality for calendar year 2002.
14 However, if the total proceeds to be distributed for the
15 current year from the excise tax imposed under s. 185.08 are
16 less than the total amount distributed for calendar year 2002,
17 each participating municipality shall receive a current year
18 distribution that is proportionate to its share of the total
19 2002 calendar year distribution. If the total proceeds to be
20 distributed for the current year from the excise tax imposed
21 under s. 185.08 are greater than or equal to the total amount
22 distributed for calendar year 2002, each participating
23 municipality shall initially be distributed a minimum amount
24 equal to the amount received for calendar year 2002. The
25 remaining amount to be distributed for the current year, which
26 equals the total to be distributed for the current year less
27 minimum distribution amount shall be distributed to those
28 municipalities with a current-year reported amount that is
29 greater than the amount distributed to such municipality for
30 calendar year 2002. Each municipality eligible for
31 distribution of this remaining amount shall receive its
11
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1 proportionate share of the remaining amount based upon the
2 amount reported for that municipality, above the calendar year
3 2002 distribution for the current year, to the total amount
4 over the calendar year 2002 distribution for all
5 municipalities with a current year reported amount that is
6 greater than the calendar year 2002 distribution.
7 (b) If a new municipality elects to participate under
8 this chapter during any year after the effective date of this
9 section, such municipality shall receive the total amount
10 reported for the current year for such municipality. All other
11 participating municipalities shall receive a current year
12 distribution, calculated as provided in this section, which is
13 proportionate to their share of the total 2002 calendar year
14 distribution after subtracting the amount paid to the new
15 participating plans.
16 (c) This subsection expires January 1, 2006.
17 (7) Any insurer that is obligated to collect and remit
18 the tax on casualty insurance imposed under s. 185.08 shall be
19 held harmless from liability, including, but not limited to,
20 any tax, interest, or penalties, which would otherwise be due
21 solely as a result of an assignment of an insured risk to an
22 incorrect local taxing jurisdiction, based on the collection
23 and remission of the tax accruing before the effective date of
24 this section, provided the insurer collects and reports this
25 tax consistent with filings for periods before the effective
26 date of this section. Further, any insurer that is obligated
27 to collect and remit the tax on casualty insurance imposed
28 under this section shall not be subject to an examination
29 under s. 624.316 or s. 624.3161 which would occur solely as a
30 result of an assignment of an insured risk to an incorrect
31 local taxing jurisdiction, based on the collection and
12
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1 remission of such tax accruing before the effective date of
2 this section.
3 Section 3. Subsection (18) of section 175.032, Florida
4 Statutes, is amended to read:
5 175.032 Definitions.--For any municipality, special
6 fire control district, chapter plan, local law municipality,
7 local law special fire control district, or local law plan
8 under this chapter, the following words and phrases have the
9 following meanings:
10 (18) "Supplemental plan municipality" means any local
11 law municipality in which there existed a supplemental plan,
12 of any type or nature, as of December 1, 2000 January 1, 1997.
13 Section 4. Subsection (1) and paragraph (b) of
14 subsection (3) of section 175.351, Florida Statutes, are
15 amended to read:
16 175.351 Municipalities and special fire control
17 districts having their own pension plans for
18 firefighters.--For any municipality, special fire control
19 district, local law municipality, local law special fire
20 control district, or local law plan under this chapter, in
21 order for municipalities and special fire control districts
22 with their own pension plans for firefighters, or for
23 firefighters and police officers, where included, to
24 participate in the distribution of the tax fund established
25 pursuant to s. 175.101, local law plans must meet the minimum
26 benefits and minimum standards set forth in this chapter.
27 (1) PREMIUM TAX INCOME.--If a municipality has a
28 pension plan for firefighters, or a pension plan for
29 firefighters and police officers, where included, which in the
30 opinion of the division meets the minimum benefits and minimum
31 standards set forth in this chapter, the board of trustees of
13
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1 the pension plan, as approved by a majority of firefighters of
2 the municipality, may:
3 (a) Place the income from the premium tax in s.
4 175.101 in such pension plan for the sole and exclusive use of
5 its firefighters, or for firefighters and police officers,
6 where included, where it shall become an integral part of that
7 pension plan and shall be used to pay extra benefits to the
8 firefighters included in that pension plan; or
9 (b) Place the income from the premium tax in s.
10 175.101 in a separate supplemental plan to pay extra benefits
11 to firefighters, or to firefighters and police officers where
12 included, participating in such separate supplemental plan.
13
14 The premium tax provided by this chapter shall in all cases be
15 used in its entirety to provide extra benefits to
16 firefighters, or to firefighters and police officers, where
17 included. However, local law plans in effect on October 1,
18 1998, shall be required to comply with the minimum benefit
19 provisions of this chapter only to the extent that additional
20 premium tax revenues become available to incrementally fund
21 the cost of such compliance as provided in s. 175.162(2)(a).
22 When a plan is in compliance with such minimum benefit
23 provisions, as subsequent additional premium tax revenues
24 become available, they shall be used to provide extra
25 benefits. For the purpose of this chapter, "additional premium
26 tax revenues" means revenues received by a municipality or
27 special fire control district pursuant to s. 175.121 that
28 exceed that amount received for calendar year 1997 and the
29 term "extra benefits" means benefits in addition to or greater
30 than those provided to general employees of the municipality,
31 and in addition to those in existence for firefighters on
14
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1 March 12, 1999. Local law plans created by special act before
2 May 23, 1939, shall be deemed to comply with this chapter.
3 (3) Notwithstanding any other provision, with respect
4 to any supplemental plan municipality:
5 (b) Section 175.061(1)(b) shall not apply, and a local
6 law plan and a supplemental plan shall continue to be
7 administered by a board or boards of trustees numbered,
8 constituted, and selected as the board or boards were
9 numbered, constituted, and selected on December 1, 2000
10 January 1, 1997.
11 Section 5. Subsection (16) of section 185.02, Florida
12 Statutes, is amended to read:
13 185.02 Definitions.--For any municipality, chapter
14 plan, local law municipality, or local law plan under this
15 chapter, the following words and phrases as used in this
16 chapter shall have the following meanings, unless a different
17 meaning is plainly required by the context:
18 (16) "Supplemental plan municipality" means any local
19 law municipality in which there existed a supplemental plan as
20 of December 1, 2000 January 1, 1997.
21 Section 6. Subsection (1) and paragraph (b) of
22 subsection (3) of section 185.35, Florida Statutes, are
23 amended to read:
24 185.35 Municipalities having their own pension plans
25 for police officers.--For any municipality, chapter plan,
26 local law municipality, or local law plan under this chapter,
27 in order for municipalities with their own pension plans for
28 police officers, or for police officers and firefighters where
29 included, to participate in the distribution of the tax fund
30 established pursuant to s. 185.08, local law plans must meet
31
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1 the minimum benefits and minimum standards set forth in this
2 chapter:
3 (1) PREMIUM TAX INCOME.--If a municipality has a
4 pension plan for police officers, or for police officers and
5 firefighters where included, which, in the opinion of the
6 division, meets the minimum benefits and minimum standards set
7 forth in this chapter, the board of trustees of the pension
8 plan, as approved by a majority of police officers of the
9 municipality, may:
10 (a) Place the income from the premium tax in s. 185.08
11 in such pension plan for the sole and exclusive use of its
12 police officers, or its police officers and firefighters where
13 included, where it shall become an integral part of that
14 pension plan and shall be used to pay extra benefits to the
15 police officers included in that pension plan; or
16 (b) May place the income from the premium tax in s.
17 185.08 in a separate supplemental plan to pay extra benefits
18 to the police officers, or police officers and firefighters
19 where included, participating in such separate supplemental
20 plan.
21
22 The premium tax provided by this chapter shall in all cases be
23 used in its entirety to provide extra benefits to police
24 officers, or to police officers and firefighters, where
25 included. However, local law plans in effect on October 1,
26 1998, shall be required to comply with the minimum benefit
27 provisions of this chapter only to the extent that additional
28 premium tax revenues become available to incrementally fund
29 the cost of such compliance as provided in s. 185.16(2). When
30 a plan is in compliance with such minimum benefit provisions,
31 as subsequent additional tax revenues become available, they
16
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1 shall be used to provide extra benefits. For the purpose of
2 this chapter, "additional premium tax revenues" means revenues
3 received by a municipality pursuant to s. 185.10 that exceed
4 the amount received for calendar year 1997 and the term "extra
5 benefits" means benefits in addition to or greater than those
6 provided to general employees of the municipality, and in
7 addition to those in existence for police officers on March
8 12, 1999. Local law plans created by special act before May
9 23, 1939, shall be deemed to comply with this chapter.
10 (3) Notwithstanding any other provision, with respect
11 to any supplemental plan municipality:
12 (b) Section 185.05(1)(b) shall not apply, and a local
13 law plan and a supplemental plan shall continue to be
14 administered by a board or boards of trustees numbered,
15 constituted, and selected as the board or boards were
16 numbered, constituted, and selected on December 1, 2000
17 January 1, 1997.
18 Section 7. The sum of $300,000 is appropriated from
19 the General Revenue Fund to the Department of Revenue for the
20 one-time expense of creating the original database called for
21 by sections 1 and 2 of this act, and to begin the
22 implementation process for use of the database. It is the
23 intent of the Legislature in providing this appropriation that
24 the database for sections 1 and 2 of this act be available for
25 use in determining the allocation of premiums to the various
26 municipalities and special fire control districts for the 2003
27 insurance premium tax return that is due by March 1, 2004.
28 Section 8. This act shall take effect January 1, 2003.
29
30
31
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1 STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
COMMITTEE SUBSTITUTE FOR
2 SB 2164
3
4 This committee substitute makes significant changes to SB
2164.
5
1. Instead of being an act relating to tax administration,
6 it is an act relating to firefighters' and municipal
police officers' pensions, and all issues unrelated to
7 chapters 175 and 185, F.S., were taken out of the bill.
8 2. Additional safeguards were added for insurance companies
for the period before the electronic database is
9 available, providing that they will not be penalized for
incorrectly assigning property if they continue to use
10 the same methodology as they have used in the past to
assign property.
11
3. If insured property cannot be assigned using the
12 electronic database, an insurance company will not be
subject to penalty if it uses due diligence in assigning
13 the property.
14 4. With respect to police pensions, a hold-harmless is
provided through 2005 to ensure that municipalities will
15 continue to receive at least as much insurance premium
revenue as they received in 2002, unless the total
16 revenue available for distribution is less than the 2002
amount. Any growth in revenue will be distributed to
17 municipalities for which the reported amount is greater
than the hold-harmless amount. If a new municipality
18 elects to participate under chapter 185 during this
period, it will receive its total reported amount.
19
5. The committee substitute amends ss. 175.351 and 185.35,
20 F.S. to provide that "extra benefits" provided using
additional premium tax revenues means benefits in
21 addition to or greater than those provided to general
employees of the municipality, and in addition to those
22 in existence for firefighters or police officers on March
12, 1999.
23
6. The committee substitute also permits a retroactive
24 qualification for supplemental benefit plan eligibility
for the receipt of monies held in escrow by the Division
25 of Retirement for the City of Tallahassee police and fire
plan.
26
27
28
29
30
31
18
CODING: Words stricken are deletions; words underlined are additions.