Florida Senate Passes Property Insurance Reform Bill
A bill backed by the Florida insurance industry and other stakeholders aimed at addressing the state’s insurance market woes was passed in the Senate chamber this week but faces an uncertain future as the companion bill in the Florida House greatly differs from the Senate proposal.
Senate Bill 76, sponsored by Florida Senate Banking & Insurance Committee Chair Jim Boyd, also an insurance broker, was passed 27-13 by the full Senate Wednesday.
“We want to make certain that Floridians have access to property insurance that is both reliable and affordable. Right now we have a situation in our state where homeowners are paying more for their property insurance, and yet insurance companies are suffering massive losses,” said Boyd. “One of the biggest drivers of rate increases is the extraordinary number of roofing claims in Florida. This bill provides a needed update to roofing policies to both protect homeowners and prevent t
Capitol News Service » Blog Archive » Florida to Begin Internet Sales Tax Collection flanews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from flanews.com Daily Mail and Mail on Sunday newspapers.
Florida House OK s bill to tax out-of-state online sales
BOBBY CAINA CALVAN, Associated Press
April 8, 2021
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TALLAHASSEE, Fla. (AP) Florida moved closer Thursday in requiring online retailers and other out-of-state merchants to collect sales tax, a step that could add about $1 billion annually to state revenues.
The Florida House joined the state Senate in supporting a proposal that would require out-of-state retailers to collect taxes on purchases bound for a Florida address. The Senate has already approved a version of the bill, but must review and approve the measure approved by the House before it can head to Gov. Ron DeSantis for his signature.
Some Democrats opposed the bill, calling it a regressive tax on working people. They also objected to having the proceeds disproportionately benefit business owners.
Some of the money would be transferred to the state’s unemployment trust fund and would reduce unemployment taxes for businesses. Once the unemployment fund is shored up, revenues generated by the measure would go to the state’s General Fund.
“It helps us replenish the unemployment fund that was devastated because of a pandemic that wasn’t created by any of the job creators here,” said Rep. Bob Rommel, a Republican and supporter of the measure. “We’re going to refill it by not taxing them.”
Bill would limit local governments emergency powers yoursun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yoursun.com Daily Mail and Mail on Sunday newspapers.