Fla. Bill Would Save Drivers $220M But Cost Insurers

Law360, Miami (March 26, 2013, 10:04 PM EDT) -- Insurance companies in the Sunshine State could lose a valuable tax credit under a bill introduced in the Florida Senate on Monday that would reclaim those funds to offset a reduction in annual vehicle registration fees for state residents.

S.B. 7132, sponsored by Sen. Joe Negron, R-Stuart, would roll back 2009 fee hikes for annual registration of cars and light trucks, license plates, driver's licenses and related services, saving Floridians an estimated $220 million a year.

To make the measure revenue neutral, in keeping with the...
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