Bill Summary
HB 1253 Interest on Trust Accounts (2024 Session)
Interest on Trust Accounts: Requires CFO to set rate of interest payable by eligible institutions on interest on trust accounts quarterly, effective on specified dates; provides that percentage yield of such rate may not exceed specified threshold; requires CFO to inform Funding Florida Legal Aid of rate established for quarter; authorizes eligible institutions to pay annual percentage yield that is greater of specified interest rates or dividends on specified accounts; requires that such institutions submit to Funding Florida Legal Aid certain form promulgated by The Florida Bar. Effective Date: July 1, 2024
01/04/24
HOUSE
Filed
01/13/24
HOUSE
Referred to Insurance & Banking Subcommittee; Civil Justice Subcommittee; Commerce Committee
01/13/24
HOUSE
Now in Insurance & Banking Subcommittee
03/08/24
HOUSE
Died in Insurance & Banking Subcommittee
No amendments to this bill text filed.
655.97
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