Bill > H0939

This bill amends Florida law to clarify how bail bond premiums are taxed and reported. Specifically, it repeals a provision that previously separated the calculation of insurance premium taxes from financial reporting for bail bond premiums. The bill now specifies that for the purpose of calculating certain taxes, the amount of direct written premiums for bail bonds will be reported net of any amounts retained by licensed bail bond agents or licensed managing general agents, but not less than 6.5 percent of the total consideration received by the agent. This change aims to ensure that insurance premium taxes are calculated using a clearer definition of bail bond premiums, with a new provision establishing a 1.75 percent tax rate on direct written bail bond premiums, excluding amounts retained by agents.