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 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.

Current Bill Version Posted: 4/23/2025 12:12 PM

• Senate Committee References (3)

  1. Banking and Insurance (BI)
  2. Judiciary (JU)
  3. Rules (RC)

• Related Bills (2)

  Bill Number Subject Filed By Last Action and Location	Relationship Learn more about bill relationships
  H 173 by Brackett Interest on Trust Accounts Program Interest Rates Last Action: 5/3/2025 H Indefinitely postponed and withdrawn from consideration	Similar
  S 1612 (c2) by Grall Financial Services Last Action: 4/30/2025 S Laid on Table, refer to CS/HB 1549 -SJ 976	Compare

• Citations - Statute (1)

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  655.97

  Page 3 [pdf]

• Bill History

  S = Senate, H = House

  2/5/2025	S	• Filed
  2/20/2025	S	• Referred to Judiciary; Banking and Insurance; Rules
  3/4/2025	S	• Introduced
  3/7/2025	S	• On Committee agenda-- Judiciary, 03/12/25, 8:30 am, 110 Senate Building
  3/12/2025	S	• 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	S	• Now in Banking and Insurance
  3/26/2025	S	• On Committee agenda-- Banking and Insurance, 03/31/25, 1:30 pm, 412 Knott Building
  3/31/2025	S	• CS/CS by Banking and Insurance; YEAS 9 NAYS 1
  4/2/2025	S	• 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	S	• On Committee agenda-- Rules, 04/08/25, 9:00 am, 412 Knott Building
  4/8/2025	S	• CS/CS/CS by- Rules; YEAS 17 NAYS 7
  4/9/2025	S	• Pending reference review -under Rule 4.7(2) - (Committee Substitute) • CS/CS/CS by Rules read 1st time
  4/10/2025	S	• Placed on Calendar, on 2nd reading
  4/21/2025	S	• Placed on Special Order Calendar, 04/23/25
  4/23/2025	S	• Read 2nd time -SJ 482 • Amendment(s) adopted (233904) -SJ 482 • Read 3rd time -SJ 482 • CS passed as amended; YEAS 28 NAYS 10 -SJ 482
  4/23/2025	H	• In Messages
  5/3/2025	H	• Indefinitely postponed and withdrawn from consideration