Bill > H0657

This bill amends Florida law to clarify that the state's premium tax, which is a tax on insurance companies based on the premiums they collect, does not apply to any portion of a title insurance premium that is kept by a title insurance agent or agency. Title insurance is a type of insurance that protects against financial loss from defects in the title to real property. The bill also revises the definition of "premium" for title insurance to explicitly state that it includes charges for title services performed by a title insurer or agent, and clarifies that a commission paid to a title insurance agent or agency is not considered part of the premium for tax purposes.