CS for SB 310 - Tax on Insurance Premiums

• Exempts any portion of title insurance premiums retained by a title insurance agent or agency from state premium tax.

• Removes the July 1, 1980 effective date reference and restructures the premium tax exemption provisions in section 624.509.

• Clarifies that annuity premium tax exemptions still require insurers to demonstrate that tax savings are credited to annuity holders, including employers contributing to employee retirement plans.

• Removes the reference to premium tax in the definition of "premium" under title insurance provisions while maintaining that commissions are excluded from the definition.

• Effective date: July 1, 2014.