Florida 2022 Regular Session Status: Enacted 1 R cosponsors

SB 1368 — Trusts

Last action — Chapter No. 2022-96

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced December 27, 2021. Enacted.

Prognosis

Likely to advance 74% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 2 sponsors

    2 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Trusts; Revising criteria for application of the rule against perpetuities to trusts created on or after a specified date; specifying that the terms of a trust do not prevail over a trustee’s duty to account to qualified beneficiaries under certain circumstances; clarifying circumstances under which notice, or the sending of a document, to a person under the Florida Trust Code is deemed satisfied; providing that the terms of a trust may permit for accounting to the qualified beneficiaries only under certain circumstances, etc.

Bill Text

What changed in the latest version

232 added · 255 removed

232 line(s) added, 255 removed.

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Previous
Latest
CS for SB 1368 First Engrossed 20221368e1 A bill to be entitled An act relating to trusts;
Florida Senate - 2022 CS for SB 1368 By the Committee on Banking and Insurance;
and Senator Gruters 597-02839A-22 20221368c1 A bill to be entitled An act relating to trusts;
amending ss.
736.04115 and 736.0412, F.S.;
conforming provisions to changes made by the act;
Page 1 of 9 CODING:
736.08145, F.S.;
clarifying the application of law governing grantor trust reimbursement;
providing an Page 1 of 9 CODING:
CS for SB 1368 First Engrossed 20221368e1 736.08145, F.S.;
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 effective date.
clarifying the application of law governing grantor trust reimbursement;
providing an effective date.
736.0105 Default and mandatory rules.— (2) The terms of a trust prevail over any provision of this Page 2 of 9 CODING:
736.0105 Default and mandatory rules.— (2) The terms of a trust prevail over any provision of this code except:
(s) The duty under s.
736.0813(1)(c) and (d) to provide a Page 2 of 9 CODING:
CS for SB 1368 First Engrossed 20221368e1 code except:
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 complete copy of the trust instrument and to account to qualified beneficiaries except as otherwise provided in s.
(s) The duty under s.
736.0813(1)(c) and (d) to provide a complete copy of the trust instrument and to account to qualified beneficiaries except as otherwise provided in s.
662.111, that is a trustee of a trust may use any permissible method for providing notice or for sending a document specified in subsection (1) or may send a properly directed e-mail that contains an attached notice or document or contains a hyperlink through which the recipient can view the notice or document as a permissible method of providing Page 3 of 9 CODING:
662.111, that is a trustee of a trust may use any permissible method for providing notice or for sending a document specified in subsection (1) or may send a properly directed e-mail that contains an attached notice or document or contains a hyperlink through which the recipient can view the notice or document as a permissible method of providing notice or sending a document.
For purposes of this subsection, such notice or document sent by e-mail is deemed to have been Page 3 of 9 CODING:
CS for SB 1368 First Engrossed 20221368e1 notice or sending a document.
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 sent if any username, password, or other specific instructions needed to access the notice or document are communicated to the recipient beforehand or contemporaneously with the sending of the e-mail message containing the notice, document, or hyperlink, or upon the request of the recipient.
For purposes of this subsection, such notice or document sent by e-mail is deemed to have been sent if any username, password, or other specific instructions needed to access the notice or document are communicated to the recipient beforehand or contemporaneously with the sending of the e-mail message containing the notice, document, or hyperlink, or upon the request of the recipient.
Subsection (1) of section 736.0409, Florida Page 4 of 9 CODING:
Subsection (1) of section 736.0409, Florida Statutes, is amended to read:
736.0409 Noncharitable trust without ascertainable Page 4 of 9 CODING:
CS for SB 1368 First Engrossed 20221368e1 Statutes, is amended to read:
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 beneficiary.—Except as otherwise provided in s.
736.0409 Noncharitable trust without ascertainable beneficiary.—Except as otherwise provided in s.
Paragraph (b) of subsection (3) of section 736.04115, Florida Statutes, is amended to read:
736.04115 Judicial modification of irrevocable trust when modification is in best interests of beneficiaries.— (3) This section shall not apply to:
(b) Any trust created after December 31, 2000, if:
1.
Under the terms of the trust, all beneficial interests in the trust must vest or terminate within the period prescribed by the rule against perpetuities in s.
689.225(2), notwithstanding s.
689.225(2)(f) and (g).
2.
The terms of the trust expressly prohibit judicial modification.
Section 7.
Paragraph (b) of subsection (4) of section 736.0412, Florida Statutes, is amended to read:
736.0412 Nonjudicial modification of irrevocable trust.— (4) This section shall not apply to:
(b) Any trust created after December 31, 2000, if, under the terms of the trust, all beneficial interests in the trust must vest or terminate within the period prescribed by the rule against perpetuities in s.
689.225(2), notwithstanding s.
Page 5 of 9 CODING:
Show all 69 changed rows (29 more)
Previous
Latest
Words stricken are deletions;
words underlined are additions.
CS for SB 1368 First Engrossed 20221368e1 689.225(2)(f) and (g), unless the terms of the trust expressly authorize nonjudicial modification.
Section 8.
736.0105(2)(s) or the duties under this paragraph, if a family trust company, licensed family trust company, or foreign licensed family trust company, as defined in s.
736.0105 or the duties under this paragraph, if a family trust company, licensed family trust company, or foreign licensed family trust company, as defined in s.
This paragraph may not be construed to prohibit a trustee that is a family trust company, licensed family trust company, or foreign licensed family trust company from voluntarily accounting to the qualified beneficiaries annually or at other times selected by such trustee.
This paragraph may not be construed to prohibit a trustee that Page 5 of 9 CODING:
Page 6 of 9 CODING:
CS for SB 1368 First Engrossed 20221368e1 Paragraphs (a) and (b) do not apply to an irrevocable trust created before the effective date of this code, or to a revocable trust that becomes irrevocable before the effective date of this code.
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 is a family trust company, licensed family trust company, or foreign licensed family trust company from voluntarily accounting to the qualified beneficiaries annually or at other times selected by such trustee.
Paragraphs (a) and (b) do not apply to an irrevocable trust created before the effective date of this code, or to a revocable trust that becomes irrevocable before the effective date of this code.
Section 9.
Section 7.
The financial statement must contain sufficient information to put the beneficiary on notice of the trust’s comprehensive assets and liabilities as well as of the transactions occurring during the accounting period.
The financial statement must contain sufficient information to put the beneficiary on notice of the trust’s comprehensive assets and liabilities as well as of the transactions occurring during Page 6 of 9 CODING:
A financial statement that reports a summary of the comprehensive assets and liabilities at the beginning and end of the accounting period and the aggregate amounts of all cash and property transactions, gains, losses, receipts, expenses, disbursements, distributions, accruals, or Page 7 of 9 CODING:
CS for SB 1368 First Engrossed 20221368e1 allowances occurring within the accounting period for each category of assets and liabilities meets the requirements of this paragraph.
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 the accounting period.
A financial statement that reports a summary of the comprehensive assets and liabilities at the beginning and end of the accounting period and the aggregate amounts of all cash and property transactions, gains, losses, receipts, expenses, disbursements, distributions, accruals, or allowances occurring within the accounting period for each category of assets and liabilities meets the requirements of this paragraph.
662.111, is a trustee is available for any accounting periods beginning on or after July 1, 2022.
662.111, is a trustee is available for Page 7 of 9 CODING:
This subsection does not affect the beginning period from which a trustee is required to render a trust accounting.
Section 10.
Subsection (2) of section 736.08145, Florida Statutes, is amended to read:
Page 8 of 9 CODING:
CS for SB 1368 First Engrossed 20221368e1 736.08145 Grantor trust reimbursement.— (2) This section applies to all trusts that are governed by the laws of this state or that have a principal place of administration within this state, whether created on, before, or after July 1, 2020, unless:
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 any accounting periods beginning on or after July 1, 2022.
This subsection does not affect the beginning period from which a trustee is required to render a trust accounting.
Section 8.
Subsection (2) of section 736.08145, Florida Statutes, is amended to read:
736.08145 Grantor trust reimbursement.— (2) This section applies to all trusts that are governed by the laws of this state or that have a principal place of administration within this state, whether created on, before, or after July 1, 2020, unless:
2642(c) of the Internal Revenue Code.
2642(c) of the Internal Page 8 of 9 CODING:
Section 11.
Words stricken are deletions;
words underlined are additions.
Florida Senate - 2022 CS for SB 1368 597-02839A-22 20221368c1 Revenue Code.
Section 9.
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Action History

  1. Chapter No. 2022-96

  2. Approved by Governor

  3. Signed by Officers and presented to Governor

  4. Ordered enrolled

  5. CS passed; YEAS 99, NAYS 19

  6. Read 3rd time

  7. Added to Third Reading Calendar

  8. Placed on 3rd reading

  9. Read 2nd time

  10. 1st Reading (Engrossed 1)

  11. Bill added to Special Order Calendar (3/8/2022)

  12. Bill referred to House Calendar

  13. In Messages

  14. Immediately certified

  15. CS passed as amended; YEAS 39 NAYS 0

  16. Read 3rd time

  17. Amendment(s) adopted (364794)

  18. Read 2nd time

  19. Placed on Special Order Calendar, 02/23/22

  20. Placed on Calendar, on 2nd reading

  21. Favorable by- Rules; YEAS 17 NAYS 0

  22. On Committee agenda-- Rules, 02/15/22, 10:00 am, 412 Knott Building

  23. Now in Rules

  24. CS by Banking and Insurance read 1st time

  25. Pending reference review under Rule 4.7(2) - (Committee Substitute)

  26. CS by Banking and Insurance; YEAS 11 NAYS 0

  27. On Committee agenda-- Banking and Insurance, 02/08/22, 3:00 pm, 37 Senate Building

  28. Now in Banking and Insurance

  29. Favorable by Judiciary; YEAS 10 NAYS 0

  30. On Committee agenda-- Judiciary, 01/31/22, 3:00 pm, 412 Knott Building

  31. Introduced

  32. Referred to Judiciary; Banking and Insurance; Rules

  33. Filed

Sponsors

  • Banking and Insurance · Primary
  • Joe Gruters · Primary

Sponsorship breakdown

Export CSV (upgrade) →

2 sponsors · 0 co-sponsors · 158 not signed on · 10 voted No

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (158)

158 members have not signed on to this bill.

Show all 158 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Passage, Third Reading

Passed 99 Yea · 19 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 46000
Unaffiliated 411001
Democrat 12900
Total 991901
% of votes cast 83%16%0%1%
How each member voted (119)
Member Party Vote
Aloupis — Yea
Geller — Nay
Altman — Yea
Goff-Marcil — Nay
Renner — Yea
Silvers — Yea
Jenne — Nay
Bush — Nay
Killebrew — Nay
Slosberg-King — Yea
Byrd — Yea
Caruso — Yea
Latvala — Yea
Casello — Yea
Learned — Yea
Sprowls — Yea
Stevenson — Yea
Clemons — Yea
Mariano — Yea
Toledo — Yea
Tomkow — Yea
Diamond — Nay
Drake — Yea
McCurdy — Yea
Duran — Yea
Willhite — Yea
Morales — Nay
Williams — Nay
Williamson — Yea
Fernandez-Barquin — Yea
Omphroy — Yea
Fetterhoff — Yea
Fine — Yea
Payne — Yea
Zika — Yea
Fischer — Yea
Alexander — Not Voting
Grant — Yea
Roach — Yea
Bell — Yea
Grieco — Yea
Beltran — Yea
Hage — Yea
Benjamin — Yea
Harding — Yea
Rommel — Yea
Roth — Yea
Hawkins — Yea
Sabatini — Yea
Brown — Nay
Ingoglia — Yea
Thompson, Geraldine F. "Geri" — Nay
Arrington, Kristen Aston Democrat Yea
Bartleman, Robin Democrat Yea
Campbell, Daryl Democrat Yea
Chambliss, Kevin D. Democrat Nay
Daley, Dan Democrat Yea
Davis, Tracie Democrat Nay
Driskell, Fentrice Democrat Yea
Eskamani, Dr. Anna V. Democrat Nay
Gottlieb, Michael "Mike" Democrat Yea
Gregory, Emily Democrat Yea
Hart-Lowman, Dianne "Ms Dee" Democrat Yea
Hinson, Yvonne Hayes Democrat Nay
Hunschofsky, Christine Democrat Yea
Joseph, Dotie Democrat Nay
Nixon, Angela "Angie" Democrat Nay
Rayner, Michele K. Democrat Nay
Robinson, Felicia Simone Democrat Nay
Skidmore, Kelly Democrat Yea
Smith, Carlos Guillermo Democrat Nay
Tant, Allison Democrat Yea
Woodson, Marie Paule Democrat Yea
Andrade, Robert Alexander "Alex" Republican Yea
Barnaby, Webster Republican Yea
Borrero, David Republican Yea
Botana, Adam Republican Yea
Brannan III, Robert Charles "Chuck" Republican Yea
Buchanan, James Republican Yea
Burton, Colleen Republican Yea
Busatta, Demi Republican Yea
Chaney, Linda Republican Yea
DiCeglie, Nick Republican Yea
Duggan, Wyman Republican Yea
Fabricio, Tom Republican Yea
Garrison, Sam Republican Yea
Giallombardo, Mike Republican Yea
Grall, Erin Republican Yea
Koster, Traci Republican Yea
LaMarca, Chip Republican Yea
Leek, Thomas J. "Tom" Republican Yea
Maggard, Randall Scott "Randy" Republican Yea
Maney, Patt Republican Yea
Massullo, Ralph E., Jr. Republican Yea
McClain, Stan Republican Yea
McClure, Lawrence Republican Yea
McFarland, Fiona Republican Yea
Melo, Lauren Republican Yea
Mooney Jr., James Vernon "Jim" Republican Yea
Overdorf, Tobin Rogers "Toby" Republican Yea
Perez, Daniel Republican Yea
Persons-Mulicka, Jenna Republican Yea
Plakon, Rachel Saunders Republican Yea
Plasencia, Susan Republican Yea
Rizo, Alex Republican Yea
Robinson Jr., William Cloud "Will" Republican Yea
Rodriguez, Ana Maria Republican Yea
Salzman, Michelle Republican Yea
Shoaf, Jason Republican Yea
Sirois, Tyler I. Republican Yea
Smith, David Republican Yea
Snyder, John Republican Yea
Trabulsy, Dana Republican Yea
Truenow, Keith L. Republican Yea
Trumbull, Jay Republican Yea
Tuck, Kaylee Republican Yea
Vacant Republican Yea
Valdés, Susan L. Republican Yea
Yarborough, Clay Republican Yea

Official roll call →

Third Reading

Passed 39 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 13000
Unaffiliated 21000
Democrat 4000
No Party Affiliation 1000
Total 39000
% of votes cast 100%0%0%0%
How each member voted (39)
Member Party Vote
Diaz — Yea
Ausley — Yea
Farmer — Yea
Powell — Yea
Baxley — Yea
Gainer — Yea
Rodrigues — Yea
Bean — Yea
Gibson — Yea
Book — Yea
Stargel — Yea
Stewart — Yea
Bracy — Yea
Taddeo — Yea
Hutson — Yea
Torres — Yea
Brandes — Yea
Simpson — Yea
Broxson — Yea
Perry — Yea
Cruz — Yea
Berman, Lori Democrat Yea
Jones, Shevrin D. "Shev" Democrat Yea
Polsky, Tina Scott Democrat Yea
Rouson, Darryl Ervin Democrat Yea
Pizzo, Jason W. B. No Party Affiliation Yea
Albritton, Ben Republican Yea
Boyd, Jim Republican Yea
Bradley, Jennifer Republican Yea
Brodeur, Jason Republican Yea
Burgess, Danny Republican Yea
Garcia, Ileana Republican Yea
Gruters, Joe Republican Yea
Harrell, Gayle Republican Yea
Hooper, Ed Republican Yea
Mayfield, Debbie Republican Yea
Passidomo, Kathleen Republican Yea
Rodriguez, Ana Maria Republican Yea
Wright, Tom A. Republican Yea

Official roll call →

Favorable

Passed 17 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 6000
Unaffiliated 11000
Total 17000
% of votes cast 100%0%0%0%
How each member voted (17)
Member Party Vote
Baxley — Yea
Bean — Yea
Book — Yea
Bracy — Yea
Brandes — Yea
Diaz — Yea
Farmer — Yea
Gibson — Yea
Hutson — Yea
Powell — Yea
Stargel — Yea
Albritton, Ben Republican Yea
Boyd, Jim Republican Yea
Garcia, Ileana Republican Yea
Gruters, Joe Republican Yea
Mayfield, Debbie Republican Yea
Passidomo, Kathleen Republican Yea

Official roll call →

Favorable with Committee Substitute

Passed 11 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 6000
Republican 4000
Democrat 1000
Total 11000
% of votes cast 100%0%0%0%
How each member voted (11)
Member Party Vote
Brandes — Yea
Rodrigues — Yea
Stargel — Yea
Stewart — Yea
Taddeo — Yea
Broxson — Yea
Rouson, Darryl Ervin Democrat Yea
Boyd, Jim Republican Yea
Burgess, Danny Republican Yea
Gruters, Joe Republican Yea
Passidomo, Kathleen Republican Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1368 do?
Trusts; Revising criteria for application of the rule against perpetuities to trusts created on or after a specified date; specifying that the terms of a trust do not prevail over a trustee’s duty to account to qualified beneficiaries under certain circumstances; clarifying circumstances under which notice, or the sending of a document, to a person under the Florida Trust Code is deemed satisfied; providing that the terms of a trust may permit for accounting to the qualified beneficiaries only under certain circumstances, etc.
Who sponsors SB 1368?
SB 1368 is sponsored by Banking and Insurance and Gruters, Joe (Republican).
What is the current status of SB 1368?
This bill has been enacted into law. Introduced December 27, 2021. Enacted.
Where can I track SB 1368?
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