(1) There shall be established a special fund exclusively for the purpose of this chapter, which in the case of chapter plans shall be known as the “Municipal Police Officers’ Retirement Trust Fund,” in each municipality of this state, heretofore or hereafter created, which now has or which may hereafter have a regularly organized police department, and which now owns and uses or which may hereafter own and use equipment and apparatus of a value exceeding $500 in serviceable condition for the prevention of crime and for the preservation of life and property.
(2)(a) This chapter applies only to municipalities organized and established pursuant to the laws of the state and does not apply to the unincorporated areas of a county or to a governmental entity whose police officers are eligible to participate in the Florida Retirement System.
(b) With respect to the distribution of premium taxes, a single consolidated government consisting of a former county and one or more municipalities, consolidated pursuant to s. 3 or s. 6(e), Art. VIII of the State Constitution, is also eligible to participate under this chapter. The consolidated government shall notify the division when it has entered into an interlocal agreement to provide police services to a municipality within its boundaries. The municipality may enact an ordinance levying the tax as provided in s. 185.08. Upon being provided copies of the interlocal agreement and the municipal ordinance levying the tax, the division may distribute any premium taxes reported for the municipality to the consolidated government as long as the interlocal agreement is in effect.
(3) No municipality shall establish more than one retirement plan for public safety officers which is supported in whole or in part by the distribution of premium tax funds as provided by this chapter or chapter 175, nor shall any municipality establish a retirement plan for public safety officers which receives premium tax funds from both this chapter and chapter 175.
History.—s. 1, ch. 28230, 1953; s. 2, ch. 29825, 1955; s. 2, ch. 61-119; s. 1, ch. 65-152; s. 7, ch. 79-380; s. 2, ch. 79-388; s. 3, ch. 86-42; s. 43, ch. 99-1; s. 1, ch. 2014-28.
Structure Florida Statutes
Chapter 185 - Municipal Police Pensions
185.01 - Legislative Declaration.
185.04 - Actuarial Deficits Not State Obligations.
185.06 - General Powers and Duties of Board of Trustees.
185.061 - Use of Annuity or Insurance Policies.
185.07 - Creation and Maintenance of Fund.
185.08 - State Excise Tax on Casualty Insurance Premiums Authorized; Procedure.
185.085 - Determination of Local Premium Tax Situs.
185.09 - Report of Premiums Paid; Date Tax Payable.
185.105 - Police and Firefighters’ Premium Tax Trust Fund.
185.11 - Funds Received by Municipalities, Deposit in Retirement Trust Fund.
185.12 - Payment of Excise Tax Credit on Similar State Excise or License Tax.
185.13 - Failure of Insurer to Comply With Chapter; Penalty.
185.16 - Requirements for Retirement.
185.161 - Optional Forms of Retirement Income.
185.18 - Disability Retirement.
185.19 - Separation From Municipal Service; Refunds.
185.191 - Lump-Sum Payment of Small Retirement Income.
185.21 - Death Prior to Retirement; Refunds of Contributions or Payment of Death Benefits.
185.221 - Annual Report to Division of Retirement; Actuarial Valuations.
185.25 - Exemption From Tax and Execution.
185.30 - Depository for Retirement Fund.
185.31 - Municipalities and Boards Independent of Other Municipalities and Boards and of Each Other.
185.34 - Disability in Line of Duty.
185.35 - Municipalities That Have Their Own Retirement Plans for Police Officers.
185.37 - Termination of Plan and Distribution of Fund.
185.38 - Transfer to Another State Retirement System; Benefits Payable.