Amends existing law to provide that amounts in certain documents shall be rounded to the nearest whole dollar.

Currently insurance companies report and pay premium tax including cents. Considerable time and effort is spent by staff for insurance companies and the Department of Insurance to prepare and audit tax returns and other reports to the specific penny. These efforts are not commensurate with the value gained by such level of detail. This legislation would require premium tax returns from insurers to be rounded up or down to the nearest whole dollar. A similar change is made to require surplus lines brokers to report and pay tax rounded up or down to the nearest whole dollar.