CS/CS/CS/SB 498: Trust Fund Interest for Purposes Approved by the Supreme Court
GENERAL BILL by Rules ; Banking and Insurance ; Judiciary ; Grall
Trust Fund Interest for Purposes Approved by the Supreme Court; Authorizing financial institutions to hold funds in specified trust accounts to be used for specified purposes; requiring such financial institutions to pay a certain minimum interest rate or dividend; requiring that the interest rate be at least a specified percentage; requiring a financial institution to submit a quarterly rate validation sheet and affidavit to the Chief Financial Officer attesting that it will pay a minimum certain interest rate or dividend; requiring that the affidavit attest that certain information is true and factual, etc.
Effective Date: Upon becoming a law
Last Action: 4/10/2025 Senate - Placed on Calendar, on 2nd reading
Bill Text: Web Page | PDF
Last Action: 4/10/2025 Senate - Placed on Calendar, on 2nd reading
Bill Text: Web Page | PDF
Senate Committee References:
- Judiciary (JU)
- Banking and Insurance (BI)
- Rules (RC)
Bill History
| Date | Chamber | Action |
|---|---|---|
| 2/5/2025 | Senate |
• Filed |
| 2/20/2025 | Senate |
• Referred to Judiciary; Banking and Insurance; Rules |
| 3/4/2025 | Senate |
• Introduced |
| 3/7/2025 | Senate |
• On Committee agenda-- Judiciary, 03/12/25, 8:30 am, 110 Senate Building |
| 3/12/2025 | Senate |
• CS by Judiciary; YEAS 9 NAYS 2 • Pending reference review under Rule 4.7(2) - (Committee Substitute) • CS by Judiciary read 1st time |
| 3/13/2025 | Senate |
• Now in Banking and Insurance |
| 3/26/2025 | Senate |
• On Committee agenda-- Banking and Insurance, 03/31/25, 1:30 pm, 412 Knott Building |
| 3/31/2025 | Senate |
• CS/CS by Banking and Insurance; YEAS 9 NAYS 1 |
| 4/2/2025 | Senate |
• Pending reference review under Rule 4.7(2) - (Committee Substitute) • Now in Rules • CS/CS by Banking and Insurance read 1st time |
| 4/3/2025 | Senate |
• On Committee agenda-- Rules, 04/08/25, 9:00 am, 412 Knott Building |
| 4/8/2025 | Senate |
• CS/CS/CS by- Rules; YEAS 17 NAYS 7 |
| 4/9/2025 | Senate |
• Pending reference review -under Rule 4.7(2) - (Committee Substitute) • CS/CS/CS by Rules read 1st time |
| 4/10/2025 | Senate |
• Placed on Calendar, on 2nd reading |
651292 - Substitute Amendment (Delete All) (263874)