| 1 | Representative(s) Ross offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Between lines 95 and 96, and insert: |
| 5 | Section 2. Subsection (1) of section 624.5091, Florida |
| 6 | Statutes, is amended to read: |
| 7 | 624.5091 Retaliatory provision, insurers.-- |
| 8 | (1)(a) When by or pursuant to the laws of any other state |
| 9 | or foreign country any taxes, licenses, and other fees, in the |
| 10 | aggregate, and any fines, penalties, deposit requirements, or |
| 11 | other material obligations, prohibitions, or restrictions are or |
| 12 | would be imposed upon Florida insurers or upon the agents or |
| 13 | representatives of such insurers, which are in excess of such |
| 14 | taxes, licenses, and other fees, in the aggregate, or which are |
| 15 | in excess of the fines, penalties, deposit requirements, or |
| 16 | other obligations, prohibitions, or restrictions directly |
| 17 | imposed upon similar insurers, or upon the agents or |
| 18 | representatives of such insurers, of such other state or country |
| 19 | under the statutes of this state, so long as such laws of such |
| 20 | other state or country continue in force or are so applied, the |
| 21 | same taxes, licenses, and other fees, in the aggregate, or |
| 22 | fines, penalties, deposit requirements, or other material |
| 23 | obligations, prohibitions, or restrictions of whatever kind |
| 24 | shall be imposed by the Department of Revenue upon the insurers, |
| 25 | or upon the agents or representatives of such insurers, of such |
| 26 | other state or country doing business or seeking to do business |
| 27 | in this state. In determining the taxes to be imposed under this |
| 28 | section, 80 percent of the credit provided by s. 624.509(5), as |
| 29 | limited by s. 624.509(6) and further determined by s. |
| 30 | 624.509(7), and a portion of the remaining 20 percent as |
| 31 | provided in paragraph (b), shall not be taken into |
| 32 | consideration. |
| 33 | (b) The term "portion of the remaining 20 percent" means |
| 34 | the amount calculated by multiplying the remaining 20 percent by |
| 35 | a fraction, the numerator of which is the sum of the salaries |
| 36 | qualifying for the credit allowed by s. 624.509(5) of employees |
| 37 | whose place of employment is located in an enterprise zone |
| 38 | created pursuant to chapter 290 and the denominator of which is |
| 39 | the sum of the salaries qualifying for the credit allowed by s. |
| 40 | 624.509(5). |
| 41 |
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| 42 | ================ T I T L E A M E N D M E N T ============= |
| 43 | Between lines 5 and 6, insert: |
| 44 | amending s. 624.5091, F.S., increasing the amount of tax credits |
| 45 | excluded from calculation of insurance retaliatory taxes; |