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.
Last Action: 4/10/2025 Senate - Placed on Calendar, on 2nd reading
Bill Text: Web Page | PDF
- Judiciary (JU)
- Banking and Insurance (BI)
- Rules (RC)
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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
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CS/CS/CS/SB 498, Committee Substitute 3 (Current Bill Version) Posted 4/9/2025 at 3:39 PM
Bill Text: Web Page | PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 173 Interest on Trust Accounts Program Interest Rates Brackett Similar Last Action: 3/4/2025 H 1st Reading (Original Filed Version) 
Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 655.97 Page 3 (pdf) -
CS/CS/SB 498, Committee Substitute 2 Posted 4/2/2025 at 8:49 AM
Bill Text: Web Page | PDF Analyses: Rules (Pre-Meeting) 4/7/2025 (pdf)
Rules (Post-Meeting) 4/10/2025 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 173 Interest on Trust Accounts Program Interest Rates Brackett Similar Last Action: 3/4/2025 H 1st Reading (Original Filed Version)
Committee Amendments (2)
Amendment Sponsor Filed Last Committee Action Format 869322 - Amendment
Delete lines 68 - 80 and insert:Rules
(Grall)4/7/2025
8:20 AMReplaced by Substitute Amendment
4/8/2025Web Page
PDF
690360 - Substitute Amendment (869322)
Delete lines 68 - 80 and insert:Rules
(Grall)4/7/2025
5:24 PM
(Late Filed)Replaced by Committee Substitute
4/8/2025Web Page
PDFCommittee Votes (1)
Date Committee Result 4/8/2025 9:00 AM Rules 17 Yeas - 7 Nays Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 655.97 Page 3 (pdf) -
CS/SB 498, Committee Substitute 1 Posted 3/12/2025 at 2:49 PM
Bill Text: Web Page | PDF Analyses: Banking and Insurance (Pre-Meeting) 3/28/2025 (pdf)
Banking and Insurance (Post-Meeting) 4/2/2025 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 173 Interest on Trust Accounts Program Interest Rates Brackett Similar Last Action: 3/4/2025 H 1st Reading (Original Filed Version)
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 496408 - Amendment
Delete lines 75 - 109 and insert:Banking and Insurance
(Grall)3/28/2025
12:00 PMReplaced by Committee Substitute
4/1/2025Web Page
PDFCommittee Votes (1)
Date Committee Result 3/31/2025 1:30 PM Banking and Insurance 9 Yeas - 1 Nays Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 655.97 Page 3 (pdf) -
SB 498, Original Filed Version Posted 2/5/2025 at 11:58 AM
Bill Text: Web Page | PDF Analyses: Judiciary (Pre-Meeting) 3/11/2025 (pdf)
Judiciary (Post-Meeting) 3/12/2025 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 173 Interest on Trust Accounts Program Interest Rates Brackett Similar Last Action: 3/4/2025 H 1st Reading (Original Filed Version)
Committee Amendments (2)
Amendment Sponsor Filed Last Committee Action Format 263874 - Amendment (Delete All)
Delete everything after the enacting clause and insert:Judiciary
(Grall)3/11/2025
8:02 AMReplaced by Substitute Amendment
3/12/2025Web Page
PDF
651292 - Substitute Amendment (Delete All) (263874)
Delete everything after the enacting clause and insert:Judiciary
(Grall)3/11/2025
11:58 AMReplaced by Committee Substitute
3/12/2025Web Page
PDFCommittee Votes (1)
Date Committee Result 3/12/2025 8:30 AM Judiciary 9 Yeas - 2 Nays Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 655.97 Page 2 (pdf)