Florida Senate - 2025                          SENATOR AMENDMENT
       Bill No. CS for CS for CS for SB 498
       
       
       
       
       
       
                                Ì233904"Î233904                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 1/AD/2R         .                                
             04/23/2025 10:45 AM       .                                
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       Senator Grall moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 67 - 78
    4  and insert:
    5  holds such an account, it must pay the highest interest rate or
    6  dividend generally available from the institution to its
    7  comparable business or consumer accounts or nonmaturing deposit
    8  accounts, provided that the trust account meets or exceeds the
    9  same minimum balance or other account requirements. The trust
   10  account interest rate must be at least 0.25 percent if the
   11  Federal Funds Effective Rate is less than 4 percent. The trust
   12  account interest rate must be at least 0.5 percent if the
   13  Federal Funds Effective Rate is 4 percent or greater.
   14         (a) The financial institution must submit a rate validation
   15  sheet and affidavit to the Chief Financial Officer by the 10th
   16  day of each quarter attesting that it will pay the same
   17  
   18  ================= T I T L E  A M E N D M E N T ================
   19  And the title is amended as follows:
   20         Delete line 8
   21  and insert:
   22         that the interest rate be a specified