Purpose


The proposed amendment to Rule 69U-140.020, F.A.C., creates additional monetary assessment tiers to extend declining assessments rates for agencies with assets from $2.5B up to and exceeding $10B. This will generally reduce the assessments due for international agencies with assets exceeding $2.5B. Currently, the rule provides for declining assessments until reaching a flat assessment rate for agencies with total assets over $1B. The proposed rule amendment also corrects a mathematical error in the calculation of the base assessments for the current monetary assessment tiers from $500M to $2.5B and includes the statutory minimum assessment and late payment penalty amounts.