185.08 State excise tax on casualty insurance premiums authorized; procedure.—For any municipality, chapter plan, local law municipality, or local law plan under this chapter:
(1)(a) Each incorporated municipality in this state described and classified in s. 185.03, as well as each other city or town of this state which on July 31, 1953, had a lawfully established municipal police officers’ retirement trust fund or city fund, by whatever name known, providing pension or relief benefits to police officers as provided under this chapter, may assess and impose on every insurance company, corporation, or other insurer now engaged in or carrying on, or who shall hereafter engage in or carry on, the business of casualty insurance as shown by records of the Office of Insurance Regulation of the Financial Services Commission, an excise tax in addition to any lawful license or excise tax now levied by each of the municipalities, respectively, amounting to .85 percent of the gross amount of receipts of premiums from policyholders on all premiums collected on casualty insurance policies covering property within the corporate limits of such municipalities, respectively.
(b) This section applies to a municipality consisting of a single consolidated government consisting of a former county and one or more municipalities, consolidated pursuant to s. 3 or s. 6(e), Art. VIII of the State Constitution, and to casualty insurance policies covering property within the boundaries of the consolidated government, regardless of whether the properties are located within one or more separately incorporated areas within the consolidated government, and provided the properties are being provided with police protection services by the consolidated government.
(2) In the case of multiple peril policies with a single premium for both property and casualty coverages in such policies, 30 percent of such premium shall be used as the basis for the .85-percent tax above.
(3) The excise tax shall be payable annually March 1 of each year after the passing of an ordinance assessing and imposing the tax herein authorized. Installments of taxes shall be paid according to the provisions of s. 624.5092(2)(a), (b), and (c).
...Petersburg Police Pension Board of Trustees (collectively, the City) appeal a final summary judgment finding that former police officers who left service prior to vesting in the City's police pension fund were entitled to a refund of their contributions to the fund. We affirm. Sections 185.19, 185.08, and 185.35, Florida Statutes (2000), are central to the parties' dispute....
...which, in the opinion of the division [of retirement of the department of management services], meets the minimum benefits and minimum standards set forth in this chapter, the board of trustees of the pension plan ... may: (a) Place the income from the premium tax in s. 185.08 in such pension plan for the sole and exclusive use of its police officers ... where it shall become an integral part of that pension plan and shall be used to pay extra benefits to the police officers included in that pension plan; or (b) May place the income from the premium tax in s. 185.08 in a separate supplemental plan to pay extra benefits to the police officers ... participating in such separate supplemental plan. The premium tax income provided in section 185.08 authorizes a State excise tax on casualty insurance premiums collected by insurance companies. The tax may amount to .85 percent of the gross premium receipts from casualty insurance policyholders within a municipality's boundaries. § 185.08(1). The excise tax is payable annually after the municipality's passage of an ordinance assessing and imposing it. § 185.08(3); cf....
...In 1953, the Legislature enacted statutory provisions for police (and, later, firefighter) pensions. The statute authorized cities to assess an excise tax on casualty insurance for property within the city, the revenues from which could go to the existing police officer retirement trust fund. See now § 185.08, Fla....
...Finally, the legislature has specified that municipal participation in the premium tax program is not mandated but is instead purely voluntary: "A municipality may revoke its participation under this chapter by rescinding the legislative act, or ordinance which assesses and imposes taxes authorized in s. 185.08, and by furnishing a certified copy of such legislative act, or ordinance to the division....
This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. For legal consultation, call 904-383-7448.
