CS/HB 1093: Florida Uniform Fiduciary Income and Principal Act
GENERAL BILL by Judiciary Committee ; Caruso
Florida Uniform Fiduciary Income and Principal Act; Revises provisions of Florida Uniform Principal & Income Act governing trusts, estates, life estates, & other term interests.
Senate Committee References:
- Rules (RC)
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Bill History
Date Chamber Action 1/2/2024 House • Filed
1/9/2024 House • Referred to Civil Justice Subcommittee
• Referred to Insurance & Banking Subcommittee
• Referred to Judiciary Committee
• Now in Civil Justice Subcommittee
• 1st Reading (Original Filed Version)
1/23/2024 House • Added to Civil Justice Subcommittee agenda
1/25/2024 House • Favorable by Civil Justice Subcommittee
• Reported out of Civil Justice Subcommittee
• Now in Insurance & Banking Subcommittee
1/30/2024 House • Added to Insurance & Banking Subcommittee agenda
2/1/2024 House • Favorable by Insurance & Banking Subcommittee
• Reported out of Insurance & Banking Subcommittee
• Now in Judiciary Committee
2/12/2024 House • Added to Judiciary Committee agenda
2/14/2024 House • Favorable with CS by Judiciary Committee
• Reported out of Judiciary Committee
• Laid on Table under Rule 7.18(a)
• CS Filed
2/15/2024 House • Bill referred to House Calendar
• 1st Reading (Committee Substitute 1)
• Added to Second Reading Calendar
2/22/2024 House • Bill added to Special Order Calendar (2/27/2024)
2/27/2024 House • Read 2nd time
• Amendment 664839 adopted
• Placed on 3rd reading
• Added to Third Reading Calendar
2/28/2024 House • Read 3rd time
• CS passed as amended; YEAS 115, NAYS 0
2/28/2024 Senate • In Messages
• Referred to Rules
• Received
3/1/2024 Senate • Withdrawn from Rules -SJ 599
• Placed on Calendar, on 2nd reading
• Substituted for CS/CS/SB 1316 -SJ 600
• Read 2nd time -SJ 599
• Read 3rd time -SJ 600
• CS passed; YEAS 32 NAYS 0 -SJ 600
3/1/2024 House • In Messages
• Ordered enrolled
5/21/2024 • Signed by Officers and presented to Governor
5/29/2024 • Approved by Governor
5/30/2024 • Chapter No. 2024-216
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CS/HB 1093, Enrolled (Current Bill Version) Posted 3/4/2024 at 8:53 AM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1316 (c2) Florida Uniform Fiduciary Income and Principal Act Berman Identical Last Action: 3/1/2024 S Laid on Table, companion bill(s) passed, see CS/HB 1093 (Ch. 2024-216) -SJ 600 
Citations - Statutes (61)
Citation Catchline Location in Bill Location In Bill Help 738.101 Short title. Page 13 (pdf) 738.102 Definitions. Page 13 (pdf) 738.103 Fiduciary duties; general principles. Page 22 (pdf) 738.104 Trustee’s power to adjust. Page 23 (pdf) 738.1041 Total return unitrust. Page 23 (pdf) 738.105 Judicial control of discretionary powers. Page 23 (pdf) 738.201 Determination and distribution of net income. Page 23 (pdf) 738.202 Distribution to residuary and remainder beneficiaries. Page 27 (pdf) 738.203 Page 30 (pdf) 738.301 When right to income begins and ends. Page 39 (pdf) 738.302 Apportionment of receipts and disbursements when decedent dies or income interest begins. Page 41 (pdf) 738.303 Apportionment when income interest ends. Page 43 (pdf) 738.304 Page 46 (pdf) 738.305 Page 48 (pdf) 738.306 Page 49 (pdf) 738.307 Page 51 (pdf) 738.308 Page 52 (pdf) 738.309 Page 53 (pdf) 738.310 Page 56 (pdf) 738.401 Character of receipts. Page 56 (pdf) 738.402 Distribution from trust or estate. Page 65 (pdf) 738.403 Business and other activities conducted by fiduciary. Page 65 (pdf) 738.404 Page 68 (pdf) 738.405 Page 69 (pdf) 738.406 Page 70 (pdf) 738.407 Page 71 (pdf) 738.408 Page 72 (pdf) 738.409 Page 72 (pdf) 738.410 Page 77 (pdf) 738.411 Page 78 (pdf) 738.412 Page 81 (pdf) 738.413 Page 82 (pdf) 738.414 Page 84 (pdf) 738.415 Page 86 (pdf) 738.416 Page 88 (pdf) 738.501 Principal receipts. Page 88 (pdf) 738.502 Rental property. Page 88 (pdf) 738.503 Obligation to pay money. Page 91 (pdf) 738.504 Insurance policies and similar contracts. Page 92 (pdf) 738.505 Page 93 (pdf) 738.506 Page 95 (pdf) 738.507 Page 97 (pdf) 738.508 Page 99 (pdf) 738.601 Insubstantial allocations not required. Page 102 (pdf) 738.602 Payments from deferred compensation plans, annuities, and retirement plans or accounts. Page 105 (pdf) 738.603 Liquidating asset. Page 77 (pdf) 738.604 Minerals, water, and other natural resources. Page 78 (pdf) 738.605 Timber. Page 81 (pdf) 738.606 Property not productive of income. Page 82 (pdf) 738.607 Derivatives and options. Page 84 (pdf) 738.608 Asset-backed securities. Page 86 (pdf) 738.701 Disbursements from income. Page 107 (pdf) 738.702 Disbursements from principal. Page 109 (pdf) 738.703 Transfers from income to principal for depreciation. Page 110 (pdf) 738.704 Transfers from income to reimburse principal. Page 93 (pdf) 738.705 Income taxes. Page 95 (pdf) 738.706 Adjustments between principal and income because of taxes. Page 97 (pdf) 738.801 Apportionment of expenses; improvements. Page 112 (pdf) 738.802 Uniformity of application and construction. Page 112 (pdf) 738.803 Severability. Page 112 (pdf) 738.804 Application. Page 113 (pdf) -
CS/HB 1093, Engrossed 1 Posted 2/27/2024 at 3:19 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1316 (c2) Florida Uniform Fiduciary Income and Principal Act Berman Identical Last Action: 3/1/2024 S Laid on Table, companion bill(s) passed, see CS/HB 1093 (Ch. 2024-216) -SJ 600
Floor Votes (2)
Date Chamber Result 2/28/2024 11:01 AM House 115 Yeas - 0 Nays 3/1/2024 3:10 PM Senate 32 Yeas - 0 Nays Citations - Statutes (61)
Citation Catchline Location in Bill Location In Bill Help 738.101 Short title. Page 13 (pdf) 738.102 Definitions. Page 13 (pdf) 738.103 Fiduciary duties; general principles. Page 22 (pdf) 738.104 Trustee’s power to adjust. Page 23 (pdf) 738.1041 Total return unitrust. Page 23 (pdf) 738.105 Judicial control of discretionary powers. Page 23 (pdf) 738.201 Determination and distribution of net income. Page 23 (pdf) 738.202 Distribution to residuary and remainder beneficiaries. Page 27 (pdf) 738.203 Page 30 (pdf) 738.301 When right to income begins and ends. Page 39 (pdf) 738.302 Apportionment of receipts and disbursements when decedent dies or income interest begins. Page 41 (pdf) 738.303 Apportionment when income interest ends. Page 43 (pdf) 738.304 Page 46 (pdf) 738.305 Page 48 (pdf) 738.306 Page 49 (pdf) 738.307 Page 51 (pdf) 738.308 Page 52 (pdf) 738.309 Page 53 (pdf) 738.310 Page 56 (pdf) 738.401 Character of receipts. Page 56 (pdf) 738.402 Distribution from trust or estate. Page 65 (pdf) 738.403 Business and other activities conducted by fiduciary. Page 65 (pdf) 738.404 Page 68 (pdf) 738.405 Page 69 (pdf) 738.406 Page 70 (pdf) 738.407 Page 71 (pdf) 738.408 Page 72 (pdf) 738.409 Page 72 (pdf) 738.410 Page 77 (pdf) 738.411 Page 78 (pdf) 738.412 Page 81 (pdf) 738.413 Page 82 (pdf) 738.414 Page 84 (pdf) 738.415 Page 86 (pdf) 738.416 Page 88 (pdf) 738.501 Principal receipts. Page 88 (pdf) 738.502 Rental property. Page 88 (pdf) 738.503 Obligation to pay money. Page 91 (pdf) 738.504 Insurance policies and similar contracts. Page 92 (pdf) 738.505 Page 93 (pdf) 738.506 Page 95 (pdf) 738.507 Page 97 (pdf) 738.508 Page 99 (pdf) 738.601 Insubstantial allocations not required. Page 102 (pdf) 738.602 Payments from deferred compensation plans, annuities, and retirement plans or accounts. Page 105 (pdf) 738.603 Liquidating asset. Page 77 (pdf) 738.604 Minerals, water, and other natural resources. Page 78 (pdf) 738.605 Timber. Page 81 (pdf) 738.606 Property not productive of income. Page 82 (pdf) 738.607 Derivatives and options. Page 84 (pdf) 738.608 Asset-backed securities. Page 86 (pdf) 738.701 Disbursements from income. Page 107 (pdf) 738.702 Disbursements from principal. Page 109 (pdf) 738.703 Transfers from income to principal for depreciation. Page 110 (pdf) 738.704 Transfers from income to reimburse principal. Page 93 (pdf) 738.705 Income taxes. Page 95 (pdf) 738.706 Adjustments between principal and income because of taxes. Page 97 (pdf) 738.801 Apportionment of expenses; improvements. Page 112 (pdf) 738.802 Uniformity of application and construction. Page 112 (pdf) 738.803 Severability. Page 112 (pdf) 738.804 Application. Page 113 (pdf) -
CS/HB 1093, Committee Substitute 1 Posted 2/14/2024 at 5:25 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1316 (c2) Florida Uniform Fiduciary Income and Principal Act Berman Similar Last Action: 3/1/2024 S Laid on Table, companion bill(s) passed, see CS/HB 1093 (Ch. 2024-216) -SJ 600
Floor Amendments (1)
Amendment Sponsor Filed Last Floor Action Format 664839 - Amendment
Remove line 2558 and insert:Caruso 2/23/2024
1:23 PMHouse: Adopted
2/27/2024PDF Citations - Statutes (61)
Citation Catchline Location in Bill Location In Bill Help 738.101 Short title. Page 13 (pdf) 738.102 Definitions. Page 13 (pdf) 738.103 Fiduciary duties; general principles. Page 22 (pdf) 738.104 Trustee’s power to adjust. Page 23 (pdf) 738.1041 Total return unitrust. Page 23 (pdf) 738.105 Judicial control of discretionary powers. Page 23 (pdf) 738.201 Determination and distribution of net income. Page 23 (pdf) 738.202 Distribution to residuary and remainder beneficiaries. Page 27 (pdf) 738.203 Page 30 (pdf) 738.301 When right to income begins and ends. Page 39 (pdf) 738.302 Apportionment of receipts and disbursements when decedent dies or income interest begins. Page 41 (pdf) 738.303 Apportionment when income interest ends. Page 43 (pdf) 738.304 Page 46 (pdf) 738.305 Page 48 (pdf) 738.306 Page 49 (pdf) 738.307 Page 51 (pdf) 738.308 Page 52 (pdf) 738.309 Page 53 (pdf) 738.310 Page 56 (pdf) 738.401 Character of receipts. Page 56 (pdf) 738.402 Distribution from trust or estate. Page 65 (pdf) 738.403 Business and other activities conducted by fiduciary. Page 65 (pdf) 738.404 Page 68 (pdf) 738.405 Page 69 (pdf) 738.406 Page 70 (pdf) 738.407 Page 71 (pdf) 738.408 Page 72 (pdf) 738.409 Page 72 (pdf) 738.410 Page 77 (pdf) 738.411 Page 78 (pdf) 738.412 Page 81 (pdf) 738.413 Page 82 (pdf) 738.414 Page 84 (pdf) 738.415 Page 86 (pdf) 738.416 Page 88 (pdf) 738.501 Principal receipts. Page 88 (pdf) 738.502 Rental property. Page 88 (pdf) 738.503 Obligation to pay money. Page 91 (pdf) 738.504 Insurance policies and similar contracts. Page 92 (pdf) 738.505 Page 93 (pdf) 738.506 Page 95 (pdf) 738.507 Page 97 (pdf) 738.508 Page 99 (pdf) 738.601 Insubstantial allocations not required. Page 102 (pdf) 738.602 Payments from deferred compensation plans, annuities, and retirement plans or accounts. Page 105 (pdf) 738.603 Liquidating asset. Page 77 (pdf) 738.604 Minerals, water, and other natural resources. Page 78 (pdf) 738.605 Timber. Page 81 (pdf) 738.606 Property not productive of income. Page 82 (pdf) 738.607 Derivatives and options. Page 84 (pdf) 738.608 Asset-backed securities. Page 86 (pdf) 738.701 Disbursements from income. Page 107 (pdf) 738.702 Disbursements from principal. Page 109 (pdf) 738.703 Transfers from income to principal for depreciation. Page 110 (pdf) 738.704 Transfers from income to reimburse principal. Page 93 (pdf) 738.705 Income taxes. Page 95 (pdf) 738.706 Adjustments between principal and income because of taxes. Page 97 (pdf) 738.801 Apportionment of expenses; improvements. Page 112 (pdf) 738.802 Uniformity of application and construction. Page 112 (pdf) 738.803 Severability. Page 112 (pdf) 738.804 Application. Page 113 (pdf) -
HB 1093, Original Filed Version Posted 1/2/2024 at 3:42 PM
Bill Text: PDF Analyses: Civil Justice Subcommittee (Post-Meeting) 6/4/2024 (pdf)
Insurance & Banking Subcommittee (Post-Meeting) 2/1/2024 (pdf)
Judiciary Committee (Post-Meeting) 2/14/2024 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1316 (c1) Florida Uniform Fiduciary Income and Principal Act Berman Similar Last Action: 3/1/2024 S Laid on Table, companion bill(s) passed, see CS/HB 1093 (Ch. 2024-216) -SJ 600
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 269099 - Amendment
Remove lines 346-2344 and insert:Caruso 2/13/2024
12:38 PMAdopted
2/14/2024PDF Citations - Statutes (61)
Citation Catchline Location in Bill Location In Bill Help 738.101 Short title. Page 13 (pdf) 738.102 Definitions. Page 13 (pdf) 738.103 Fiduciary duties; general principles. Page 22 (pdf) 738.104 Trustee’s power to adjust. Page 23 (pdf) 738.1041 Total return unitrust. Page 23 (pdf) 738.105 Judicial control of discretionary powers. Page 23 (pdf) 738.201 Determination and distribution of net income. Page 23 (pdf) 738.202 Distribution to residuary and remainder beneficiaries. Page 27 (pdf) 738.203 Page 30 (pdf) 738.301 When right to income begins and ends. Page 39 (pdf) 738.302 Apportionment of receipts and disbursements when decedent dies or income interest begins. Page 41 (pdf) 738.303 Apportionment when income interest ends. Page 43 (pdf) 738.304 Page 46 (pdf) 738.305 Page 48 (pdf) 738.306 Page 49 (pdf) 738.307 Page 51 (pdf) 738.308 Page 52 (pdf) 738.309 Page 53 (pdf) 738.310 Page 56 (pdf) 738.401 Character of receipts. Page 56 (pdf) 738.402 Distribution from trust or estate. Page 65 (pdf) 738.403 Business and other activities conducted by fiduciary. Page 65 (pdf) 738.404 Page 68 (pdf) 738.405 Page 69 (pdf) 738.406 Page 70 (pdf) 738.407 Page 71 (pdf) 738.408 Page 72 (pdf) 738.409 Page 72 (pdf) 738.410 Page 77 (pdf) 738.411 Page 78 (pdf) 738.412 Page 81 (pdf) 738.413 Page 82 (pdf) 738.414 Page 84 (pdf) 738.415 Page 86 (pdf) 738.416 Page 88 (pdf) 738.501 Principal receipts. Page 88 (pdf) 738.502 Rental property. Page 88 (pdf) 738.503 Obligation to pay money. Page 91 (pdf) 738.504 Insurance policies and similar contracts. Page 92 (pdf) 738.505 Page 93 (pdf) 738.506 Page 95 (pdf) 738.507 Page 97 (pdf) 738.508 Page 99 (pdf) 738.601 Insubstantial allocations not required. Page 102 (pdf) 738.602 Payments from deferred compensation plans, annuities, and retirement plans or accounts. Page 105 (pdf) 738.603 Liquidating asset. Page 77 (pdf) 738.604 Minerals, water, and other natural resources. Page 78 (pdf) 738.605 Timber. Page 81 (pdf) 738.606 Property not productive of income. Page 82 (pdf) 738.607 Derivatives and options. Page 84 (pdf) 738.608 Asset-backed securities. Page 86 (pdf) 738.701 Disbursements from income. Page 107 (pdf) 738.702 Disbursements from principal. Page 109 (pdf) 738.703 Transfers from income to principal for depreciation. Page 110 (pdf) 738.704 Transfers from income to reimburse principal. Page 93 (pdf) 738.705 Income taxes. Page 95 (pdf) 738.706 Adjustments between principal and income because of taxes. Page 97 (pdf) 738.801 Apportionment of expenses; improvements. Page 112 (pdf) 738.802 Uniformity of application and construction. Page 112 (pdf) 738.803 Severability. Page 112 (pdf) 738.804 Application. Page 113 (pdf)