Before getting to the Amendment 5 news please note that due to the NAIFA Convention in San Diego - being on Pacific Time - the FAIFA Insurance News Roundup could be slightly delayed from 9/5 through 9/16.

The Florida Supreme Court has moved up hearings on challenges to three proposed state constitutional amendments to meet a Sept. 5 ballot deadline.

The justices Wednesday agreed to hear the cases two days before that date when ballots for the Nov. 4 election will be set. Oral arguments previously were to be held three days after the deadline.

A trial judge ruled Amendment 5, which would swap a huge property tax cut for increases in other taxes, should come off the ballot because it's summary is misleading.

Regardless of the Sept. 3rd date for the hearing, FAIFA members should proceed as if Amendment 5 will be on the ballot. Keep scheduling meetings with your local Senators and representatives to get them to pledge not to tax agent commissions if Amendment 5 passes.

We cannot pass along this tax under the insurance code which would make it an effective income tax. The Florida Consitution expressly prohibits an income tax. Also, there is already a premium tax collected on virtually every policy therefore this would be double taxation.

Most insurance agncies are small operations and have no systems in place to calculate and remit this tax - it would be a job killer.

We expect the Supreme Court to act expeditiously - possibly within 2 days - and will pass along any news as soon as it is available.