Florida Senate - 2025                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1612
       
       
       
       
       
       
                                Ì309838RÎ309838                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/17/2025           .                                
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       The Committee on Fiscal Policy (Grall) recommended the
       following:
       
    1         Senate Amendment to Amendment (733752) (with title
    2  amendment)
    3  
    4         Delete lines 15 - 26
    5  and insert:
    6  holds such an account, it must pay the highest interest rate or
    7  dividend generally available from the institution to its
    8  comparable business or consumer accounts or nonmaturing deposit
    9  accounts, provided that the trust account meets or exceeds the
   10  same minimum balance or other account requirements. The trust
   11  account interest rate must be at least 0.25 percent if the
   12  Federal Funds Effective Rate is less than 4 percent. The trust
   13  account interest rate must be at least 0.5 percent if the
   14  Federal Funds Effective Rate is 4 percent or greater.
   15         (a) The financial institution must submit a rate validation
   16  sheet and affidavit to the Chief Financial Officer by the 10th
   17  day of each quarter attesting that it will pay the same
   18  
   19  ================= T I T L E  A M E N D M E N T ================
   20  And the title is amended as follows:
   21         Delete line 102
   22  and insert:
   23         rate be a specified percentage; requiring a