Collection and use of funds

(a)

All money derived from the taxes imposed by sections 56-61 and 56-62 is hereby appropriated to the city employees' retirement system for the benefit of the police and firefighters of the City of Miami.

(b)

The excise tax provided for in this article shall be payable and collected in the manner provided for by state law providing for the creation and administration of a firefighter's and police officers' pension fund.

(c)

The tax assessed and imposed under sections 56-61 and 56-62 shall be in addition to all other taxes now levied by the city, and is a tax collected by the state, which will hereafter be credited to the city under state law.

(Code 1967, § 30-24; Code 1980, § 55-36; Ord. No. 13676, § 2, 4-27-17)

City Code cross reference—Miami City Employees' Retirement System, special benefits and contributions on account of firefighters, § 40-191 et seq.

State Law reference— Excise tax on property insurance premiums authorized, for payment to fund providing pension benefits to municipal firefighters, F.S. § 175.101; excise tax on casualty insurance premiums, F.S. § 185.08.

Secs. 56-64—56-85. - Reserved.

ARTICLE IV. - HOMESTEAD EXEMPTION FOR SENIOR CITIZENS