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Exh 7AAGENDA ITEM #7A JULY 22, 2002 ITEM: SUBMITTED BY: DATE: BACKGROUND: ATTACHMENTS: RECOMMENDATION: FUNDING: CITY MANAGER: CITY OF ATLANTIC BEACH CITY COMMISSIONER MEETING STAFF REPORT First reading to change the City's Code of Ordinances, Article IV, Sec. 20-76, Casualty risks and Sec. 20-77, Property Insurance. George Foster, Human Resource Manager July 15, 2002 Each municipality or special fire control district (Jacksonville) with a lawfully established Police or Firefighter pension plan is entitled, upon passage of an appropriate ordinance, to receive a percentage of premiums collected from policy holders within the corporate limits of such municipality for the respective pension plans. Passage of the ordinance does not affect or increase premiums; however, it ensures that Atlantic Beach receives a portion of Casualty premiums to support the Police Pension Plan and ensures that Jacksonville receives a portion of Property premiums to support their Fire Pension Plan. This action updates the City Ordinance to delete specific percentage figures and indicate that the amount will be as specified within the Florida Statutes. These percentages are currently: Casualty risks (Police). .85%. (Current City Code has 1%) Property (Fire). 1.85%. (Current City Code has 2%) 1. Proposed Ordinance 2. FS 175.101 3. FS 185.08 4. Current City Code City Commission conduct a first reading of proposed ordinance and schedule a public hearing and final reading for August 12, 2002. No funds are required for this action AGENDA ITEM #7A JULY 22, 2002 ORDINANCE NO 70-02-15 AN ORDINANCE OF THE CITY OF ATLANTIC BEACH, FLORIDA, AMENDING CHAPTER 20, TAXATION, ARTICLE IV, INSURANCE PREMIUM TAXES, SECTION 20-76, CASUALTY RISKS, TO COMPLY WITH FLORIDA STATUE .185:08 AND CHANGING SECTION 20-77, PROPERTY INSURANCE, TO COMPLY WITH FLORIDA STATUE 175.101, PROVIDING FOR CODIFICATION, AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Atlantic Beach, Florida maintains a pension plan for Police Officers, and .WHEREAS, the City of Atlantic Beach Florida has entered into an agreement with the City of Jacksonville, Duval County, Florida to provide fire services, and WHEREAS, Chapter 20, Taxation, Article IV, Insurance Premium Taxes, of the Code of Ordinances of the City of Atlantic Beach, Florida, must comply with all State and Federal laws governing taxation and is hereby amended as follows: NOW THEREFORE, BE IT ENACTED BY THE CITY COMMISSION ON BEHALF OF THE PEOPLE OF THE CITY OF ATLANTIC BEACH, FLORIDA, AS FOLLOWS: Chapter 20, Taxation, Article IV, Insurance. Premium Taxes; Section 20-76, Casualty risks and Section 20-77, Property insurance, are hereby amended as follows: Sec. 20-76. Casualty risks. There is hereby assessed, imposed and levied on every insurance company, corporation or other insurer now engaging in or carrying on, or which shall hereafter engage in or carry on the business of insuring with respect to casualty risks, as shown by the records of the insurance commissioner of the state, an excise or license tax in .addition to any license tax or excise or license tax in addition to any license tax or .excise tax now levied by the city, which tax shall be in the amount ^° ^^° ~' ` ^^•^^^' as established bv. Florida Statue 185.08 of the gross amount or receipts of premiums from policyholders on all premiums collected on casualty insurance policies covering property within the corporate limits of the city. AGENDA ITEM #7A JULY 22, 2002 Sec. 20-77. Property insurance. There is hereby assessed, imposed and levied on every insurance company, corporation or other insurer now engaging in or carrying on, or which shall hereafter engage in or carry on the business of property insurance, as shown by the records of the insurance commissioner of the state, an excise or license tax in addition to any license tax or excise tax now levied by the city, which tax shall be in the amount of-#a+ve ~'~z;--;~~R as established by Florida Statue 175.101 of the gross amount or receipts of premiums from policyholders on all premiums collected on property insurance policies covering property within the corporate limits of the city. PASSED by the City Commission on first reading this _ day of 2002. PASSED by the City Commission on second and final. reading this _ day of 2002. ATTEST: Maureen King, City Clerk Approved as to form and correctness: Alan Jensen, City Attorney LEGEND: Underlining is new lanpuaae John Meserve, Mayor AGENDA ITEM #7A JULY 22, 2002 The 2001 Flonda Statutes Tale XII Chapter 175 Vlew Enure Chapter Municipalities Firefighter Pensions 175 101 State excise tax on property insurance premiums authorized procedure For any municipality special fire control district chapter plan local law municipality local law special fire control district or local law plan under this chapter (1) Each municipality or special fire control district in this state described and classified in s 7 4 having a lawfully established firefighters pension trust fund or municipal fund or special fire control district fund by whatever name known providing pension benefits to firefighters 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 hereinafter engage in or carry on the business of property insurance as shown by the records of the Department of Insurance an excise tax in addition to any lawful license or excise tax now levied by each of the municipalities or special fire control distracts respectively amounting to 1 85 percent of the gross amount of receipts of premiums from policyholders on all premiums collected on property insurance policies covering property within the corporate limits of such municipalities or within the legally defined boundaries of special fire control districts respectively Whenever the boundaries of a special fire control distract that has lawfully established a firefighters pension trust fund encompass a portion of the corporate territory of a municipality that has also lawfully established a firefighters pension trust fund that portion of the tax receipts attributable to insurance policies covering property situated both within the municipality and the special fire control district shall be given to the fire service provider The agent shall identify the fire service provider on the property owner s application for insurance Remaining revenues collected pursuant to this chapter shall be distributed to the municipality or special fire control district according to the location of the insured property (2) In the case of multiple peril policies with a single premium for both the property and casualty coverages in such polices 70 percent of such premium shall be used as the basis for the 1 85 percent tax (3) This excise tax shall be payable annually on March 1 of each year afterkhe passage of an ordinance in the case of a municpality or resolution in the case of a special fire control distract assessing and imposing the tax authorized by this section Installments of taxes shall be paid according to the provision of s 67.4.5092(2)(a) (b) and (c) History s 1 ch 63 249 s 2 ch 67 218 ss 13 35 ch 69 106 5 6 ch 81 168 s 6 ch 86 41 s 23 ch 87 99 s 14 ch 88 206 s 10 ch 89 167 s 19 ch 93 193 5 8 ch 99 1 Welcome i n Committees Legislators Information Center Statutes and r'ons i ion Lobbyist Information Disclaimer The infonnadon on this system is unverified The 7ournal5 or printed bi145 of the respecCive cfiamhers should 6e consulted for official purposes Copyright 02000 2002 State of Flonda Contact us Pnva t~ merit AGENDA ITEM #7A JULY 22, 2002 The 2001 Flonda Statutes Tale XII Chapter 185 View Entsre Cha er Muniapalities Municipal Police Pensions 185 08 State exclse tax on casualty insurance premiums authorized procedure For any murnepality chapter plan Iocai law municipality or local law plan under this chapter (1) Each incorporated municpality In this state described and c4assfied rn s ~$$~~ as well as each other ety or town of this state which on July 31 1953 had a lawfully established muniapal police officers retirement trust fund or city fund by whatever name known providing pension or relief benefits to ponce 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 Department of Insurance an exclse tax in addition to any lawful license or exase tax now levied by each of the said municipalities respectively amounting to 85 percent of the gross amount of receipts of premwms from policyholders on all premiums collected on casualty Insurance polices covering property within the corporate limits of such municpalities respectively (2) In the case of multiple pent pollees with a single premium for bath property and casualty coverages In such polices 30 percent of such premium shall be used as the basis for the 85 percent tax above (3) The exase 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) History s 5 ch 28230 1953 s 2 ch 61 119 s 1 ch 63 196 ss 13 35 ch 69 106 s 7 ch 86 42 s 24 ch 87 99 s 15 ch 88 206 s 11 ch 89 167 s 944 ch 95 147 s 48 ch 99 1 uV~l~ome e son Committees t~ ig sic or nformation Center Statutes and Constitution ~obbylst Information DiscVa~mer The mformabon on this system is unverified The journals or printed bdis of the respective chambers should be Consulted for official purposes Copyright ©2000 2002 State of Flonda Contact us Pnvacv Statement AGENDA ITEM #7A JULY 22, 2002 ATLANTIC BEACH CODE ARTICLE IV INSURANCE PRENIIUM TA%ES Sec 20 76 Casualty risks There is hereby assessed imposed and levied on every unsurance company corporatron or other insurer now engaging in or carrying on or which shall hereafter engage in or carry on the business or insuring with respect to casualty risks as shown by the records of the insurance commissioner of the state an excise ar license tax in addition to any h~ense tax or excise tax now levied by the city which tax shall be in the amount of one (1) percent of the gross amount of receipts of premiums for policyholders on all premiums collected on casualty insurance policies covenng property within the corporate limits of the city (Ord No 45 80-4 98-80) State law reference-Authority for this sectron F S § 185 OS Sec 20 77 Property insurance There vs hereby assessed imposed and levied on every insurance company corporatron or other insurer now engaging in or canying on or which shall hereafter engage in or carry on the business of property insurance as shown by the records of the insurance commissioner of the state an excise or license tax in addition to any license tax or excise tax now levied by the city which tax shall be in the amount of two (2) percent of the grass amount or receipts of premiums from pohcyhalders on all premiums collected on property insurance policies covenng property within the corporate limits of the city (Ord No 45 80A, 9-8 80) State law reference-Authority for this section F S § 175 101 Sec 20-78 Payment date The license or excise taaes levied in section 20-76 or 20-77 shall be due and pgyabie annually on the first day of March of each year (Ord No 45-80-4 95-80)