FloridaVetoed proposal would set rates for lawyer trust accounts
A vetoed Florida proposal would set interest rates for some lawyer trust accounts and direct the money to free legal services or other uses allowed by Supreme Court rule.
What it does
The vetoed proposal would set a rate for interest-bearing lawyer and law firm trust accounts when a financial institution sends the interest or dividends to a Supreme Court-established entity.
The entity would use account interest or dividends for free legal services for people with low incomes, or for other purposes expressly allowed by Supreme Court rule.
Argument forThe interest could help provide free legal services to people with low incomes, if the court-established entity uses it for that purpose.
Argument againstThe rate formula could limit how financial institutions set interest on these accounts, even when they pay interest after fees.
More detail
A financial institution could hold an interest-bearing lawyer or law firm trust account, but if it does, it would have to pay interest or dividends at a set rate. This applies to trust accounts held for a lawyer or law firm. The account must send its interest or dividends to an entity established by the Supreme Court. The institution would pay the interest or dividends after its fees and charges. The proposal listed July 1, 2026, as its effective date, but the governor vetoed it, so it did not take effect.
The Supreme Court-established entity would use the interest or dividends for free legal services for people with low incomes, or for other purposes expressly allowed by Supreme Court rule. This applies to the entity that receives interest or dividends from the accounts described in the proposal. Other uses must be expressly allowed by Supreme Court rule. The proposal listed July 1, 2026, as its effective date, but the governor vetoed it, so it did not take effect.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 30Vetoed by Governor Ron DeSantisLatest
- Jun 15Signed by Officers and presented to GovernorTo Governor
- Feb 19Ordered enrolledMinor
- Vote recorded Third Reading. Result: pass.Upper
- Feb 19In Messages
- Feb 19Immediately certified
- Feb 19Passed; YEAS 38 NAYS 0Passed Senate
- Feb 19Read 3rd timeMinor
- Feb 19Read 2nd timeMinor
- Feb 19Substituted for SB 1000
- Feb 19Placed on Calendar, on 2nd reading
- Feb 19Withdrawn from RulesMajor
- Feb 18ReceivedMinor
- Feb 12Referred to RulesMinor
- Feb 12In Messages
- Feb 11Passed; YEAS 112, NAYS 0Passed House
- Vote recorded Passage, Third Reading. Result: pass.Lower
- Feb 11Read 3rd timeMinor
- Feb 11Added to Third Reading Calendar
- Feb 11Read 2nd timeMinor
- Feb 5Bill added to Special Order Calendar (2/11/2026)
- Feb 3Added to Second Reading Calendar
- Vote recorded Favorable (Commerce Committee). Result: pass.Lower
- Feb 3Bill released to House Calendar
- Feb 3Reported out of Commerce Committee
- Feb 3Favorable by Commerce CommitteeMinor
- Jan 30Added to Commerce Committee agenda
- Jan 27Now in Commerce Committee
- Vote recorded Favorable (Judiciary Committee). Result: pass.Lower
- Jan 27Reported out of Judiciary Committee
- Jan 27Favorable by Judiciary CommitteeMinor
- Jan 23Added to Judiciary Committee agenda
- Jan 22Now in Judiciary Committee
- Jan 22Reported out of Insurance & Banking Subcommittee
- Jan 21Favorable by Insurance & Banking SubcommitteeMinor
- Vote recorded Favorable (Insurance & Banking Subcommittee). Result: pass.Lower
- Jan 16Added to Insurance & Banking Subcommittee agenda
- Jan 131st Reading (Original Filed Version)Minor
- Jan 5Now in Insurance & Banking Subcommittee
- Jan 5Referred to Commerce CommitteeMinor
- Jan 5Referred to Judiciary CommitteeMinor
- Jan 5Referred to Insurance & Banking SubcommitteeMinor
- 2025
- Dec 23FiledIntroduced