GENERAL EXCISE TAX; EXEMPTION FOR RELATED ENTITIES.

Clarifies that the definition of related entities includes entities related indirectly as well as directly.

RELATING TO LEASEHOLD CONVERSION.

Exempts from taxation 100% of capital gains realized during taxable years 2007-2011 from sale of leased fee interest in residential house lot or multi-family residential leasehold property to lessee, AOAO, or cooperative.

RELATING TO TAXATION.

Eliminates the premium tax on health insurers, except on health care services furnished through the QUEST medical assistance program.

RELATING TO TAXATION.

Exempts amounts received by trusts whose sole beneficiaries are blind, deaf, or disabled from up to $2,000 in general excise tax liability. Limits general excise tax amounts collected from the trusts to one-half percent.

RELATING TO THE CODE OF FINANCIAL INSTITUTIONS.

Eliminates obsolete requirements and improves the procedures for the licensing and regulation of financial institutions by the Division of Financial Institutions.

RELATING TO MORTGAGE BROKERS.

Replaces existing provisions regulating mortgage brokers & solicitors with provisions that provides for more specialized regulation of residential mortgage brokers by the Division of Financial Institutions rather than the Professional & Vocational Licensing Division.

RELATING TO NOTICE.

Requires a notice of foreclosure to be made in a newspaper published in the county (population of 200,000 or less) where the foreclosed property is located. The notice may also be made in a newspaper of general circulation.

RELATING TO THE WIRELESS ENHANCED 911 BOARD.

Gives the Board discretion as to the allocation of reimbursements from the wireless enhanced 911 fund between the Public Safety Answering Points and wireless carriers.

RELATING TO CHILD SUPPORT ENFORCEMENT.

Allows the CSEA to suspend licenses of those individuals who have become delinquent in making payment after entering into an agreement once notice was sent informing the individual of the license suspension process, rather than having to reinitiate the entire license suspension process from the beginning.

RELATING TO PUBLIC UTILITIES.

Increases public utilities commission commissioners' salary. Authorizes public utilities commission chairperson to appoint utility analysts and legal assistants exempt from chapter 76. Requires the public utilities commission to refund to the public utilities all moneys in excess of $3,000,000 remaining on balance in the public utilities commission special fund on June 30 of each year.

RELATING TO INSURANCE.

Updates and streamlines insurance statutes to conform with federal law and national standards.

RELATING TO GARNISHMENT.

Repeals requirement that creditor is to deliver duplicate receipts to a garnishee each time a payment is received under the garnishment process.

RELATING TO STRUCTURED SETTLEMENTS.

Establishes procedures for the creation of annuities used as settlement proceeds in structured settlements.

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Senator Ron Menor