HOUSE AMENDMENT

    786-111BX-06                               Bill No. CS/HB 1127

    Amendment No. ___ (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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  5                                           ORIGINAL STAMP BELOW

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11  Representative(s) Negron offered the following:

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13         Amendment (with title amendment) 

14         On page 4, between lines 12 and 13, of the bill

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16  insert:

17         Section 2.  Subsection (8) of section 732.2025, Florida

18  Statutes, is amended to read:

19         732.2025  Definitions.--As used in ss.

20  732.2025-732.2155, the term:

21         (8)  "Qualifying special needs trust" or "supplemental

22  needs trust" means a trust established for an ill or a

23  disabled surviving spouse with court approval before or after

24  a decedent's death, if, commencing on the decedent's death:

25         (a)  The income and principal are distributable to or

26  for the benefit of the spouse for life in the discretion of

27  one or more trustees less than half of whom are ineligible

28  family trustees.  For purposes of this paragraph, ineligible

29  family trustees include the decedent's grandparents and any

30  descendants of the decedent's grandparents who are not also

31  descendants of the surviving spouse; and

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    File original & 9 copies    03/11/02
    hbd0007                     11:27 am         01127-0082-173809




                                                   HOUSE AMENDMENT

    786-111BX-06                               Bill No. CS/HB 1127

    Amendment No. ___ (for drafter's use only)





  1         (b)  During the spouse's life, no person other than the

  2  spouse has the power to distribute income or principal to

  3  anyone other than the spouse.

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  5  The requirement for court approval shall not apply if the

  6  aggregate value of all property in all qualifying special

  7  needs trusts for the spouse is less than $100,000. For

  8  purposes of this subsection, value is determined on the

  9  "applicable valuation date" as defined in s. 732.2095(1)(a).

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12  ================ T I T L E   A M E N D M E N T ===============

13  And the title is amended as follows:

14         On page 1, line 6, after "application;",

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16  insert:

17         amending s. 732.2025, F.S.; redefining the term

18         "qualifying special needs trust" established

19         for a surviving spouse;

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    File original & 9 copies    03/11/02
    hbd0007                     11:27 am         01127-0082-173809