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Panel advances bill to change reporting for foreign and alien bail bond insurers
Summary
Representative Valdez said HB 271 would remove a reporting advantage for nondomestic bail bond insurers by requiring domestic insurers to report at least 6.5% of bond amount as premium; an opponent waived in and the committee reported the bill favorably.
Representative Valdez told the committee HB 271 addresses an imbalance in reporting that gives out‑of‑state or foreign bail bond insurers an advantage over Florida domestic insurers. The sponsor said Florida domestic insurers must report at least 6.5% of the bond amount as premium, while some alien and foreign insurers are not bound by that rule.
Valdez described the financial consequences: different reported income, tax burdens and financial ratios. Opponent Vance Ahearns spoke against the bill; no amendments were offered. After brief debate the committee voted to report HB 271 favorably.
