HB 0793 2003
1	A bill to be entitled
2	An act relating to retaliatory insurance financial
3	exactions; amending s. 624.5091, F.S.; specifying complete
4	nonapplication of certain credit provisions for certain
5	purposes; providing an effective date.
6
7	Be It Enacted by the Legislature of the State of Florida:
8
9	Section 1. Subsection (1) of section 624.5091, Florida
10	Statutes, is amended to read:
11	624.5091 Retaliatory provision, insurers.--
12	(1) When by or pursuant to the laws of any other state or
13	foreign country any taxes, licenses, and other fees, in the
14	aggregate, and any fines, penalties, deposit requirements, or
15	other material obligations, prohibitions, or restrictions are or
16	would be imposed upon Florida insurers or upon the agents or
17	representatives of such insurers, which are in excess of such
18	taxes, licenses, and other fees, in the aggregate, or which are
19	in excess of the fines, penalties, deposit requirements, or
20	other obligations, prohibitions, or restrictions directly
21	imposed upon similar insurers, or upon the agents or
22	representatives of such insurers, of such other state or country
23	under the statutes of this state, so long as such laws of such
24	other state or country continue in force or are so applied, the
25	same taxes, licenses, and other fees, in the aggregate, or
26	fines, penalties, deposit requirements, or other material
27	obligations, prohibitions, or restrictions of whatever kind
28	shall be imposed by the Department of Revenue upon the insurers,
29	or upon the agents or representatives of such insurers, of such
30	other state or country doing business or seeking to do business
31	in this state. In determining the taxes to be imposed under this
32	section, none80 percentof the credit provided by s.
33	624.509(5), as limited by s. 624.509(6) and further determined
34	by s. 624.509(7), shall notbe taken into consideration.
35	Section 2. This act shall take effect January 1, 2004.