Local bail bond company lobbies for tax break
By Jason Garcia, Orlando Sentinel | |
McClatchy-Tribune Information Services |
The company,
Accredited and other boosters say the move would make it easier for it and other
The legislation is part of a broader lobbying campaign by the national bail-bond underwriting industry to persuade states to change the way they calculate taxes on bail bond insurance.
The change would cost
The House version of the tax cut (HB 939), which breezed through the
"We're just trying to put them on the same scale as other states," Stewart said.
It is the rare Democrat-backed bill advancing through the House, where Republicans hold a large majority. For instance, it is the only bill sponsored by a Democratic lawmaker to get a hearing so far this session by the House Finance & Tax Subcommittee, which is led by Rep.
The tax cut is being sponsored in the
The companies are active campaign contributors. Records show that Accredited and its affiliated companies have donated
Under
Bail underwriters say that in
The result: Bail underwriters say they are paying an effective tax rate of nearly 22 percent in
Lobbyists say the problem is magnified outside of
But opponents warn that
One legislator called it an unnecessary industry giveaway, particularly when the state still has trouble paying for so many needs and wants, even with a budget surplus this year. "I'm not willing to contribute
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