Florida Senate - 2013                              CS for SB 322
       By the Committee on Judiciary; and Senator Brandes
       590-01693-13                                           2013322c1
    1                        A bill to be entitled                      
    2         An act relating to eminent domain proceedings;
    3         amending s. 74.051, F.S.; revising the distribution of
    4         interest on certain deposits held by clerks of court
    5         in eminent domain proceedings; providing an effective
    6         date.
    8  Be It Enacted by the Legislature of the State of Florida:
   10         Section 1. Subsection (4) of section 74.051, Florida
   11  Statutes, is amended to read:
   12         74.051 Hearing on order of taking.—
   13         (4) The court may fix the time within which and the terms
   14  upon which the defendants shall be required to surrender
   15  possession to the petitioner, which time of possession shall be
   16  upon deposit for those defendants failing to file a request for
   17  hearing as provided herein. The order of taking shall not become
   18  effective unless the deposit of the required sum is made in the
   19  registry of the court. If the deposit is not made within 20 days
   20  from the date of the order of taking, the order shall be void
   21  and of no further effect. The clerk is authorized to invest such
   22  deposits so as to earn the highest interest obtainable under the
   23  circumstances in state or national financial institutions in
   24  Florida insured by the Federal Government. Ninety percent of the
   25  interest earned shall be allocated in accordance with the
   26  ultimate ownership in the deposit paid to the petitioner.
   27         Section 2. This act shall take effect July 1, 2013.