summary
Introduced
12/23/2025
12/23/2025
In Committee
02/12/2026
02/12/2026
Crossed Over
02/19/2026
02/19/2026
Passed
02/19/2026
02/19/2026
Dead
Introduced Session
2026 Regular Session
Bill Summary
An act relating to trust fund interest for purposes approved by the Supreme Court; creating s. 655.98, F.S.; authorizing financial institutions to hold funds in specified trust accounts used for specified purposes expressly authorized by Supreme Court rule; requiring certain entities to use interest and dividends for specified purposes; requiring certain financial institutions to pay specified interest or dividends; providing an effective date.
AI Summary
This bill creates a new law in Florida that allows financial institutions to hold funds in special interest-bearing trust accounts for lawyers or law firms, provided that the interest or dividends earned on these accounts are sent to an entity established by the Florida Supreme Court. This entity must then use these funds to offer or support free legal services for people with low incomes, or for other purposes specifically approved by the Supreme Court. If a financial institution offers such an account, it is required to pay interest or dividends, after deducting any fees, calculated based on the Wall Street Journal prime rate, with specific minimum and maximum rates set. This new law is set to take effect on July 1, 2026.
Committee Categories
Business and Industry, Justice
Sponsors (2)
Last Action
Ordered enrolled (on 02/19/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2026/893 |
| BillText | https://www.flsenate.gov/Session/Bill/2026/893/BillText/er/PDF |
| Analysis - Commerce Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2026/893/Analyses/h0893e.COM.PDF |
| Analysis - Commerce Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2026/893/Analyses/h0893d.COM.PDF |
| Analysis - Judiciary Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2026/893/Analyses/h0893c.JDC.PDF |
| Analysis - Judiciary Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2026/893/Analyses/h0893b.JDC.PDF |
| Analysis - Insurance & Banking Subcommittee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2026/893/Analyses/h0893a.IBS.PDF |
| Analysis - Insurance & Banking Subcommittee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2026/893/Analyses/h0893.IBS.PDF |
| BillText | https://www.flsenate.gov/Session/Bill/2026/893/BillText/Filed/PDF |
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