HB 999 — Legal Tender

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words underlined are additions.

hb999-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB 999 2025 560.214, F.S.;

defining theterms; terms "fully allocated" and "undivided interest";

specifying that acertain custodianactions isconstitute a fiduciaryviolation toof itscertain customers;provisions;

specifyingauthorizing thatthe transmissionoffice ofto goldtake coincertain ordisciplinary silveractions; coin in a specified manner is a two-party transaction;

requiringspecifying that the commissionobligations of a custodian of gold coin or silver coin to adoptan rules;owner of gold coin or silver coin are fiduciary in nature for a specified purpose;

authorizing the commission to adopt rules;

revising the definition of the term "monetary instrument";instruments";

definingprohibiting terms;financial institutions from being required to engage in certain activities;

prohibitingrequiring financial institutions from being required to offertake certain productsactions orunder services;certain circumstances;

prohibitingauthorizing financialthe institutionscommission from incurring liability for refusing to offeradopt certainrules; products or services;

specifying certain requirements if financial institutions offer certain products or services;

requiring the commission to adopt rules;

requiring, by a specified date, the Department of Financial Services to submit a specified report to the Governor and the Legislature;

731.1065, F.S.;

specifying that gold or silver coin that is legal tender is not Page 3 of 36 CODING:

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words underlined are additions.

hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 tangible personal property;

specifying that certain provisions are effective for decedents on or after a specified date;

providing applicability;

deleting construction and applicability;

amending s.

providing directivesan toeffective thedate. Division of Law Revision;

requiring,Be byIt aEnacted specifiedby date, the DepartmentLegislature of Financial Services and the OfficeState of FinancialFlorida: Regulation to submit a specified report to the Governor and the Legislature;

requiring the Chief Financial Officer and the Financial Services Commission to adopt rules;

requiring that such rules be adopted by a specified date and submitted to the Legislature in a specified report;

providing that such rules may not take effect until ratified by the Legislature;

requiring the Chief Financial Officer and the Financial Services Commission to make a specified notification to the Division of Law Revision;

prohibiting such rules from being implemented until a specified time;

repealing certain provisions unless reviewed and saved from the repeal through reenactment;

providing effective dates.

98 Be It Enacted by the Legislature of the State of Florida:

EffectiveParagraph July(j) 1,of 2026,subsection upon(1) legislativeof section Page 43 of 3626 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, paragraph (j) of subsection (1) of section 212.05, Florida Statutes, is amended to read:

or b.

If legal tender, is sold, exchanged, or traded at a rate in excess of its face value;value.;

Page2. 5 of 36 CODING:

Such tax shall be at a rate of 6 percent of the price at which the coin or currency is sold, exchanged, or traded, except that, with respect to a coin or currency that which is Page 4 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1legal 2025tender 2.of the United States or any gold coin or silver coin that is legal tender in this state pursuant to s.

Such215.986 taxand shall be at a rate of 6 percent of the price at which the coin or currency is sold, exchanged, or traded, exceptsuch that,tax withmay respectshall tonot abe coinlevied. or currency that which is legal tender of the United States or any gold coin or silver coin recognized as legal tender in this state pursuant to s.

215.986 and that which is sold, exchanged, or traded, such tax shall not be levied.

The person who claims the sales tax exemption bears the burden of determining whether the gold coin or silver coin meets the definitions provided in s.

215.986.

In the absence of evidence to the contrary, there is a presumption that the gold coin or silver coin meets the percent purity requirements provided in s.

215.986 based upon:

a.

The purity imprinted or stamped on the gold coin or silver coin;

or b.

An electronic transfer, as defined in s.

215.986(1)(b), of a gold coin or silver coin or any fraction thereof.

With respect to any transaction that involves the sale of coins or currency taxable under this paragraph in which the taxable amount represented by the sale of such coins or currency Pageexceeds 6$500, the entire amount represented by the sale of 36such CODING:coins or currency is exempt from the tax imposed under this paragraph.

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hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 exceeds $500, the entire amount represented by the sale of such coins or currency is exempt from the tax imposed under this paragraph.

EffectiveSection July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, section 215.986, Florida Statutes, is created to read:

(a) "Debt" means an obligation for the payment of money under expresscontract, contract.whether expressed or implied, which includes Page 5 of 26 CODING:

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hb999-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB 999 2025 judgments and recognizance.

The term does not include taxes, charges, or dues imposed by this state.

560.103 to debit or credit an account with gold coin or silver coincoin, or any fraction thereof, or the equivalent coinvalue orin currency of the United States or foreign currency converted at current market price.

AnFor "electronicdebit transfer"card includes,transactions, butthis is not limited to, an instruction inshall aauthorize debit card transaction that authorizes the debit orat creditthe ofpoint an Page 7 of 36sale. CODING:

(c) "Gold coin" means a precious metal with the chemical element of atomic number 79 in solid form, typically in the shape of rounds, bars, ingots, or bullion coins, which is valued for its metal content and is stamped or imprinted with its weight and which consists of at least 99.5 percent purity.

The term "coin" does not mean any goods as defined in s.

672.105(1) such as jewelry, other items of utility such as picture frames, or keepsakes.

(d) "Governmental entity" means a state, regional, county, municipal, special district, or other political subdivision, whether executive, judicial, or legislative, including, but not limited to, a department, a division, a board, a bureau, a commission, an authority, a district, or an agency thereof, or a Page 6 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 accountpublic inschool, a single,Florida integratedCollege stepSystem atinstitution, thea pointstate ofuniversity, sale.or an associated board.

(c)(e) "Gold"Legal coin"tender" means a preciousmedium metal with the chemical element of atomicexchange numberthat 79 in solid form, in the shape of rounds, bars, ingots, or bullion coins, which is valuedauthorized forby itsthis metalstate contentpursuant andto stampeds. or imprinted with its weight and purity and which solid form of chemical element atomic number 79 consists of at least 99.5 percent purity.

The term does not include any goods as defined in s.

672.105(1), such as jewelry, other items of utility, such as picture frames, or collectables.

(d) "Governmental entity" means a state, regional, county, municipal, special district, or other political subdivision, whether executive, judicial, or legislative, including, but not limited to, a department, a division, a board, a bureau, a commission, an authority, a district, or an agency thereof, or a public school, a Florida College System institution, a state university, or an associated board.

(e) "Legal tender" means a medium of exchange recognized by this state pursuant to s.

I of the United States Constitution asfor athe validpayment and legal offer of payment for debts when tendered to a creditordebt. that agrees to receive such medium of exchange.

(f) "Silver coin" means a precious metal with the chemical element of atomic number 47 in solid form, typically in the shape of rounds, bars, ingots, or bullion coins, which is valued for its metal content and is stamped or imprinted with its weight and Pagewhich 8consists of 36at CODING:least 99.9 percent purity.

The term "coin" does not mean any goods as defined in s.

672.105(1) such as jewelry, other items of utility such as picture frames, or keepsakes.

(2) LEGAL TENDER.—Effective January 1, 2026, gold coin and silver coin are legal tender for the payment of a debt in this state.

(a) This section may not be construed to restrict the electronic transfer of gold coin or silver coin as legal tender for the payment of a debt.

(b) A person may not be required to offer or accept any recognized legal tender, as described in this subsection, for the payment of a debt, deposit, or any other purpose.

A person may not incur any liability for refusing to offer or accept such legal tender, except as specifically provided for by contract.

(c) A governmental entity may accept gold coin or silver Page 7 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1coin 2025for puritythe andpayment whichof soliddebts, formtaxes, ofor chemicalfees elementlevied atomicby numberthis 47state consistsor oflocal atgovernment leastor 99.9any percentsubdivision purity.thereof.

TheHowever, terma doesgovernmental notentity meanmay anytender goodsor accept gold coin or silver coin as definedpayment for debts, taxes, or fees only by electronic transfer and may not tender or accept gold coin or silver coin in s.physical form.

672.105(1),(d) suchThis section may not be construed as jewelry,altering otherthe itemslegal tender status of utility,any suchUnited States coins or currency that has been prescribed as picturelegal frames,tender orunder collectables.federal law.

(2)Such LEGALcoins TENDER.—Goldor coincurrency anddoes silvernot coinfall thatwithin meet the requirementsscope of this sectionsection. are recognized as legal tender by this state for the payment of debts incurred on or after July 1, 2026.

(a)(3) GoldGOVERNMENT coinIMPLEMENTATION.—Each orgovernmental silverentity cointhat recognizedintends asto legal tender in this section may not be imprinted, stamped, or otherwiseto markedaccept withpayment anyof name,gold symbol,coin or othersilver information or design, including, but not limited to, any suggestion that such coin hasmay beenenter mintedinto ora issuedwritten bycontract any government, except that such coin must be imprinted,procured stamped,through orcompetitive otherwisebidding marked with thea coin'squalified weightpublic anddepository purityas anddefined mayin bes. imprinted, stamped, or otherwise marked with the name or symbol that identifies any refiner or mint of the gold coin or silver coin.

A gold coin or silver coin that does not meet the requirements of this paragraph is not recognized as legal tender for the payment of debts in this state.

(b) This section may not be construed to restrict the electronic transfer of gold coin or silver coin as tender for the payment of a debt.

(c) This section may not be construed as altering the legal tender status of any United States coins or currency that Page 9 of 36 CODING:

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hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 has been prescribed as legal tender under federal law.

Such coins or currency do not fall within the scope of this section and this section does not reauthorize or redesignate such coins or currency as legal tender.

To the extent that any gold coin or silver coin minted or issued by the United States or a foreign government falls within the definitions in this section, federal law recognizing whether the foreign or United States minted or issued coins are legal tender, including any United States coins denominated in United States dollars, shall prevail.

(d) This section may not be construed to prohibit or limit the tender, acceptance, or use of Federal Reserve notes in the payment of debts.

(e) A person or an entity, including any governmental entity, may not be required to offer or accept any recognized legal tender as described in this subsection for the payment of a debt, deposit, or any other purpose.

A person or an entity, including any governmental entity, may not incur any liability for refusing to offer or accept such legal tender, except as specifically provided for by contract.

(3) GOVERNMENT IMPLEMENTATION.—A governmental entity may accept gold coin or silver coin for the payment of taxes, charges, or dues levied by the state or local government or any subdivision thereof.

However, a governmental entity may tender or accept gold coin or silver coin as payment for debts, taxes, charges, or dues only by electronic transfer and may not tender Page 10 of 36 CODING:

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hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 or accept gold coin or silver coin in physical form.

(a) Each governmental entity that chooses to tender or to accept payment of gold coin or silver coin must enter into a written contract procured through competitive bidding with a qualified public depository as defined in s.

(b)(a) Unless otherwise provided in chapter 280, a custodian of gold coin or silver coincoin, as defined in s.

560.103560.103, which holds gold coin or silver coin as public deposits must meet the requirements for a qualified public depositorydepositories under chapter 280.

(c)(b) A governmental entity that tenders or accepts gold coin or silver coin as payment of debts,a taxes,debt charges, and dues by one of the exemptions listed in s.

280.03(3) need not comply with this subsection for purposes of tendering or accepting such gold coin orPage silver8 coin.of 26 CODING:

Section 3.

Effective July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, section 280.21, Florida Statutes, is created to read:

280.21 Custodians of gold coin and silver coin.— (1) A custodian of gold coin or silver coin as defined in s.

560.103 which holds public deposits must do all of the following:

(a) Meet the definition of a qualified public depository as defined in s.

280.02, except that such custodian is not Page 11 of 36 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 required to be insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund for purposes of holding gold coin or silver coincoin. as defined in s.

Section 3.

Section 280.21, Florida Statutes, is created to read:

280.21 Custodians of gold coin or silver coin.—A custodian of gold coin or silver coin, as defined in s.

560.103, which holds public deposits must satisfy all of the following conditions:

(1) Meet the definition of a qualified public depository - in s.

280.02, except that such custodian of gold coin or silver coin is not required to be insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund for purposes of holding gold coin or silver coin, as those terms are defined in s.

Such(2) custodianComply mustwith maintainall insuranceother asapplicable prescribedqualified inpublic s.depository requirements and be subject to this chapter.

560.214.

(b) Comply with all other applicable qualified public depository requirements and be subject to the provisions of this chapter.

(2) The Chief Financial Officer shall adopt rules to implement this section.

EffectivePresent July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, present subsections (13) through (19), (20) through (34), and (35) and (36) of section 560.103, Florida Statutes, are redesignated as subsections (14) through (20), (22) through (36), and (38) and (39), respectively, new subsections (13)(13), and(21), (21) and subsection (37) are added to that section, and present subsections (18)(18), (23), and (24) of that section are amended, to read:

(13) "Custodian of gold coin or silver coin" or "custodian" means any person or entity providing secure vault facilities to one or more persons for the safekeeping and storagePage of9 gold coin or silver coin, the ownership of which26 isCODING: or may be transferred electronically as defined in s.

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hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1storage 2025of 215.986(1).gold coin or silver coin, the ownership of which is or may be electronically transferred, as defined in s.

215.986(1).

The term does not include a person who holds gold coin or silver coin for personal use as legal tender.

215.986(1)(c).215.986.

(26)(24)(25)(23) "Money transmitter"services business" means aany corporation,person limitedlocated liabilityin company,or limiteddoing liabilitybusiness partnership,in orthis foreignstate, entityfrom qualifiedthis tostate, door businessinto inthis state from locations outside this state which:or country who acts as a payment instrument seller, foreign currency exchanger, check casher, or money transmitter, or custodian of gold coin or silver coin.

(a)(26)(24) Receives"Money transmitter" means a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which receives currency, monetary value, a payment instrument, gold coin,coin or silver coin, or virtual currency for the purpose of acting as an intermediary to transmit currency, monetary value, a payment instrument, gold coin,coin or silver coin, or virtual currency from one person to another location or person by any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businessesPage that10 facilitateof such26 transferCODING: within this country, or to or from this country.

The term includes only an intermediary that has the ability to unilaterally execute or indefinitely prevent a transaction;

or (b) Acts as a custodian of gold coin or silver coin.

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hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1businesses 2025that (37)facilitate "Silversuch coin"transfer haswithin thethis samecountry, meaningor asto inor s.from this country.

215.986(1)(f).The term includes only an intermediary that has the ability to unilaterally execute or indefinitely prevent a transaction.

(37) "Silver coin" has the same meaning as in s.

215.986.

EffectiveSubsection July(3) 1,is 2026,added uponto legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17560.141, of this act, subsection (1) of section 560.109, Florida Statutes, is amended to read:

560.109560.141 ExaminationsLicense andapplication.— investigations.—The(3) The office maymust conductapprove examinationsan andapplication investigations,for withina orcustodian outsideof thisgold statecoin toor determinesilver whethercoin aif personthe hasapplicant violateddemonstrates anycompliance provisionwith the applicable provisions of this chapter and relatedwith rules,the orrules ofadopted anyby practicethe orcommission conductrequiring thatguidelines createsfor the likelihoodstorage, ofsecurity, materialinsurance, loss,auditing, insolvency,administration, orauthorized dissipationaccess, oftransacting, theand assetstransfer of agold moneycoin services business or otherwisesilver materiallycoin. prejudices the interests of their customers.

(1) The office may,may withoutconduct advancean notice,examination examineof orthe investigateapplicant eachbefore licenseeissuing asa oftenlicense asto isdetermine warrantedthe forapplicant's theability protectionto ofconduct customersbusiness andimmediately inupon theopening publicfor interest.business.

However,Section the6. office must examine each licensee at least once every 5 years, except that a custodian of gold coin or silver coin must be examined at least annually.

ThePresent officesubsection may,(5) withoutof advancesection notice,560.142, examineFlorida orStatutes, investigateis aredesignated moneyas servicessubsection business,(6), authorizedand vendor,a affiliatednew party,subsection or(5) licenseis applicantadded atto any time if the office suspects that thesection, moneyto servicesread: business, authorized vendor, affiliated party, or license applicant has Page 14 of 36 CODING:

560.142 License renewal.— (5) The office must approve a renewal application for a custodian of gold coin or silver coin if the licensee demonstrates compliance with the applicable provisions of this Page 11 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1chapter 2025and violatedwith orthe isrules aboutadopted toby violatethe anycommission provisionrequiring ofguidelines thisfor chapterthe orstorage, anysecurity, criminalinsurance, lawauditing, ofadministration, thisauthorized stateaccess, ortransacting, and transfer of thegold Unitedcoin States.or silver coin.

Section 6.

Effective July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, subsection (3) is added to section 560.141, Florida Statutes, to read:

560.141 License application.— (3) The office shall conduct an examination of the applicant, including, but not limited to, the custodian's vault facilities, before issuing a license to determine the applicant's ability to conduct business immediately upon opening for business.

EffectiveSection July560.145, 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, section 560.155, Florida Statutes, is created to read:

560.155560.145 Gold and silver coin as legal tender.— (1) A money services business may not be required to offer products or services, including, but not limited to, transmitting, storing, exchanging, or accepting payment in gold coin or silver coin.

To the extent that a money services business offers such products or services, the money services business must do all of the following,following: as applicable:

(a) ExceptInsure asthe providedgold incoin s.or silver coin, if not otherwise insured by an independent custodian of gold coin or silver coin, for 100 percent of the full replacement value of any deposit under an all-risk insurance policy issued by a nongovernmental- operated insurer that is an authorized insurer or eligible surplus lines insurer.

560.214,(b) maintainSecurely separatestore Pageand 15safeguard all physical gold coin or silver coin with a custodian of 36gold CODING:coin or silver coin within this state.

(c) Include any fee to convert gold coin or silver coin to coin or currency of the United States or of another country in the total maximum interchange transaction fee that an issuer may Page 12 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 accountscharge for any gold coin or silver coin and not commingle such gold coin or silver coin with anyrespect otherto accountsan thatelectronic holddebit cointransaction oras currencyprovided ofunder the UnitedElectronic StatesFund orTransfer ofAct, another15 country.U.S.C.

(b)ss. Insure the gold coin or silver coin, if not otherwise insured by an independent custodian of gold coin or silver coin pursuant to s.

560.214(1)(i),1693 foret 100seq. percent of the full replacement value under an all-risk insurance policy issued by a nongovernmental operated insurer that is an authorized insurer or eligible surplus lines insurer.

(c)(d) SecurelyEnsure storethat andany safeguardgold allcoin physicalor silver coin that is purchased for use or circulation as legal tender is from an accredited refiner or wholesaler, as prescribed by commission rule, which certifies that the gold coin or silver coin withbeing apurchased custodianmeets the requirements of gold coin orand silver coincoin, withinas thisthose state.terms are defined in s.

(d)215.986. Ensure that any gold coin or silver coin that is purchased for use or circulation as legal tender is from an accredited refiner or wholesaler as prescribed by commission rule which certifies that the gold coin or silver coin being purchased meets the requirements of gold coin and silver coin.

(e) MakeComply disclosureswith to a customer at the inceptionchain-of-custody ofrequirements, theas relationship for providing products or services relating to gold coin or silver coin before a customer initially purchases or uses a money services business product or service relating to such coin, prescribed on a form adopted by thecommission commission.rule.

The(f) commissionComply mustwith adoptall rulesother toapplicable prescribestate theand generalfederal formregulations. of such disclosures.

Such(2) disclosuresThe mustcommission include,may atadopt arules minimum,as allnecessary ofto theimplement following:this section.

PageSection 168. of 36 CODING:

Subsection (1) of section 560.204, Florida Statutes, is amended to read:

560.204 License required.— (1) Unless exempted, a person may not engage in, or in any manner advertise that they engage in, the activity of a payment instrument seller, or money transmitter, or custodian of gold coin or silver coin for compensation, without first obtaining a license under this part.

For purposes of this subsection, the term "compensation" includes profit or loss on the exchange of currency, monetary value, or virtual currency.

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hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 1.Section 9.

NoticeSection that560.205, theFlorida valueStatutes, ofis goldamended cointo orread: silver coin will fluctuate over time and that such customer should seek professional advice about whether transacting in gold coin or silver coin may incur a federal capital gains tax.

2.560.205 Additional license application requirements.—In addition to the license application requirements under part I of this chapter, an applicant seeking a license under this part must also submit any information required by this section to the office.:

Notice of potential fees that may be incurred for converting gold coin or silver coin to United States dollars or other currency, or any other transaction fees that may be incurred which can be incorporated by referencing the company's terms and conditions.

3.

Any additional disclosures the commission deems necessary for the protection of any person or entity that tenders or accepts gold coin or silver coin for the payment of debts, taxes, charges, or dues.

(f) Provide transparent contracts, products, services, storage terms, and fees, including, but not limited to, purchase, sale, conversion, storage, delivery, transaction, or other fees.

The spot rate at which any gold coin or silver coin is converted must be disclosed at the time that the gold coin or silver coin is converted.

(g) Comply with chain of custody requirements, as prescribed by commission rule.

(h) Comply with all other applicable state and federal laws and regulations.

(2) The commission must adopt rules to implement this section.

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hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 Section 8.

Effective July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, section 560.205, Florida Statutes, is amended to read:

560.205 Additional license application requirements.—In addition to the license application requirements under part I of this chapter, an applicant seeking a license under this part must also submit any information required to be submitted by each applicant under the relevant subsection to the office.:

(2) Any applicant seeking to operate as a money transmitter that is a custodian of gold coin or silver coin must also provide all of the following additional information to the Pageoffice: 18 of 36 CODING:

(a) All of the requirements specified in subsection (1).

(b) Evidence of all of the following:

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hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 office:1.

(a)Insurance Allagainst requirementsloss specifiedfor all gold coin and silver coin held in subsectionits (1).custody.

(b) Evidence of:

1.

Insurance against loss for all gold coin or silver coin held in its custody;

Custody of the exactsame quantity and type of asset for all ofcurrent its customers' gold coin or silver coin held in its physicalcustody. custody;

and 3.

Section 9.10.

EffectiveSection July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, section 560.214, Florida Statutes, is created to read:

(a) Be located in a manner that allows quick and efficient movement of the gold coin or silver coin or that enables rapid response time byfrom law enforcement.enforcement if necessary.

Page(b) 19Meet ofsecurity 36requirements CODING:in accordance with industry standards, including, but not limited to:

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hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 (b) Meet security requirements in accordance with industry standards, including, but not limited to:

Use of a high-security vault rated by aUnderwriters' reputableLaboratories, privateInc. security testing company approved by the office.

Physical security and video surveillance 24 hours a day,Page 715 daysof a26 week;CODING:

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words underlined are additions.

hb999-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB 999 2025 day, 7 days a week.

Biometric or multi-factor access controls;controls.

Facility design that is disaster-resistant,disaster resistant, including resistant to fire, flood, hurricanes,or andearthquakes. earthquakes;

and 5.

AnnualRegular reviewreviews ofand security procedures and, as necessary, updates of security procedures.

(c) MaintainKeep accuratecustomers' accountingassets recordssegregated identifyingfrom allthe owners'custodian's goldown coinassets orand silverfrom coinasset andclasses thethat custodian'sare ownnot gold coin or silver coin.

(d) MaintainStore recordsgold detailingcoin theor inventorysilver system,coin including,on buta notfully limitedallocated to,basis serialwith numberan andundivided barinterest numberfor trackingeach andowner. ledger accounts.

(e) Segregate asset classes that are not gold coin or silver coin.

(f) Store gold coin or silver coin on a fully allocated basis with an undivided interest for each owner.

"Fully allocated" means that each owner has a direct and specific legal claim to the exact gold coin or silver coin, or portion thereof, equal to theirthe owner's deposit that is held by the Pagecustodian 20 of 36gold CODING:coin or silver coin.

2.

"Undivided interest" means all owners share the physical gold coin or silver coin collectively, with each owner entitled to a proportional share of the total holdings equal to his or her ownership, even though the gold coin or silver coin may be stored as a larger unit.

(e) Comply with the chain-of-custody requirements, as prescribed by commission rule.

(f) Maintain records detailing the inventory system, including, but not limited to, the serial number and bar number tracking and ledger accounts.

Page 16 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1(g) 2025Have custodianits ofcustodial goldholdings coinexamined or silveraudited coin.at least annually by an independent certified public accountant or other auditor acceptable to the office.

2.The auditor must verify that the custodian's own assets are sufficient to cover all customer holdings and are held as represented.

"Undivided interest" means all owners share the physical gold coin or silver coin collectively, with each owner entitled to a proportional share of the total holdings equal to their ownership, even though the gold coin or silver coin may be stored as a larger unit.

(g) Comply with chain of custody requirements, as prescribed by commission rule.

(h) Have its custodial holdings examined or audited at least annually by an independent certified public accountant or other auditor acceptable to the office.

The auditor must verify that the custodian's custodial assets are sufficient to cover all owner holdings and are held as represented.

(i)(h) Maintain insurance covering 100 percent of the full replacement value of the stored gold coin or silver coin under an all-risk insurance policy for loss, theft, damage, and employee dishonesty by an authorized insurer or eligible surplus lines insurer.

(i) Permit visits or inspections by the office with advance notice.

AnnualRegular cybersecurity audits andor vulnerability Pageassessments. 21 of 36 CODING:

(k) Maintain custody of the same quantity and type of gold coin or silver coin as that entrusted to the custodian of gold coin or silver coin by each customer.

(l) Refrain from selling, lending, pledging, rehypothecating, or encumbering any customer's gold coin or Page 17 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1silver 2025coin assessments.except to the extent directed by the customer for a transfer or transaction.

(k) Maintain custody within this state of the exact quantity and type of gold coin or silver coin as that entrusted by each owner.

(l) Refrain from selling, lending, pledging, rehypothecating, or encumbering any owner's gold coin or silver coin except to the extent directed by the owner for a transfer or transaction.

(n)(2) ComplyFor a custodian of gold coin or silver coin that has a direct contractual relationship with allthe otherowner applicableof statethe andgold federalcoin lawsor andsilver regulations.coin, the custodian of gold coin or silver coin must also comply with all of the following requirements:

(2)(a) ForFurnish ato custodianeach thatowner, hasat athe directinception contractual relationship with an owner of the goldrelationship coinand oron silverat coin,least inan additionannual tobasis, thea requirementsclear, providedwritten indisclosure subsectionof (1),the suchterms custodianand mustconditions alsoof complythe withcustodial allarrangement ofand the followingassociated requirements:risks.

(a)Such Furnishdisclosure tomust eachalso owner,state atthat thegold inceptionor ofsilver theassets relationshipare fornot providinginsured productsby orthe servicesFederal relatingDeposit toInsurance goldCorporation, cointhe orNational silverCredit coinUnion andShare onInsurance atFund, leastor anthe annualSecurities basis,Investor aProtection clear,Corporation writtenand disclosurethat of the termsowner's andassets conditionsare ofheld theby custodiala arrangementlicensed andcustodian the associated risks of suchgold arrangementcoin asor prescribedsilver bycoin commissionunder rule.general law.

Such(b) disclosureProvide musttransparent includecontracts, thatproducts, theservices, goldand coinfees, orincluding silverstorage coinand istransaction notfees. insured by the Federal Page 22 of 36 CODING:

(c) Provide quarterly account statements to an owner which itemize the assets in custody for that owner, and promptly deliver updated statements to the owner.

(d) Return the owner's gold coin or silver coin to the owner upon the owner's request and meet all of the following Page 18 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 Depositconditions: Insurance Corporation, National Credit Union Association, or Securities Investor Protection Corporation but is privately insured covering 100 percent of the full replacement value of the gold coin or silver coin as provided in paragraph (1)(i), and that the owner's gold coin or silver coin is held by a licensed custodian under Florida law.

(b) Provide quarterly account statements to an owner which itemize the gold coin or silver coin in custody for such owner, and promptly deliver an updated statement upon the owner's request.

(c) Return the owner's gold coin or silver coin to the owner upon the owner's request, which return must meet all of the following requirements, as applicable:

The custodian of gold coin or silver coin must deliver possession of the physical gold coin or silver coin no later than 1030 business days after the date of the owner's request;request.

The ownercustodian mayof directgold andcoin theor custodiansilver coin must return the physical gold coin or silver coin at the minimum weight of atany leastwhole 1troy gram;ounce of gold coin or silver coin that is held by the custodian of gold coin or silver coin as may be requested by the owner.

the custodian may also return some or all of the owners gold coin and silver coin at higher weights;

Any holdings of gold coin or silver coin less than 1one wholetroy gramounce may be converted, at the discretion of the custodian,custodian of gold coin or silver coin, to United States currency at the market rate at the time the request is received by suchthe custodian;custodian of gold coin or silver coin.

The owner may direct that any or all of his or her Pageholdings 23 of 36gold CODING:coin or silver coin be converted to United States currency and be delivered to the owner within the timeframe provided in subparagraph 1.

5.

The owner and the custodian of gold coin or silver coin may agree on any other terms of delivery.

(e) Within 30 days after a request, make available to an owner a copy of any audit report required pursuant to paragraph (1)(g) which has been completed within the most recent 2-year period.

(f) Not disclose information relating to an account Page 19 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 holdingsholder, ofincluding, goldbut coinnot orlimited silverto, cointhe beaccount convertedholder's toidentity, Unitedaccount Statesbalances, currencyaccount andtransactions, beor deliveredother torelated thedata, ownerexcept withinunder 5any businessof daysthe afterfollowing acircumstances: request;

and 5.

The owner and the custodian may agree on any other terms of delivery provided such terms meet the minimum requirements provided in this paragraph.

(d) Within 10 business days after a request, make available to an owner a copy of any audit report required pursuant to paragraph (1)(h) which has been completed within the most recent 2 calendar year period.

(e) Not disclose information relating to an account holder, including, but not limited to, the account holder's identity, account balances, account transactions, or other related data, except under any of the following circumstances:

A subcontractor or agent of a custodian of gold coin or silver Pagecoin 24may ofnot 36disclose CODING:any information relating to an account holder, including, but not limited to, the account holder's identity, account balances, account transactions, or other related data, except under the circumstances described in subparagraph 1., subparagraph 2., or subparagraph 3.

(3) A violation of any provision of this section or rules adopted under this section constitutes a violation of this chapter.

The office may take disciplinary action against a custodian of gold coin or silver coin or licensee or suspend or revoke the license, as applicable, for any violation of this section including, but not limited to, failure to safeguard Page 20 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 coinassets, mayinsolvency, notcommingling discloseof anycustomer informationassets, relatingunauthorized touse anof accountassets, holder,failure including,to butmaintain notrequired limitedrecords to,or thereports, account holder's identity, account balances, account transactions, or other relatedunsafe data,or exceptunsound underpractices theas circumstancesdefined described in subparagraphs. 1., subparagraph 2., or subparagraph 3.

(3)655.005(1)(y). A custodian is a fiduciary to its customers.

(4) TransmissionObligations of a custodian of gold coin or silver coin byto aan custodianowner toof gold coin or fromsilver itscoin customerunder isthis asection two-partyare transactionfiduciary in nature for whichpurposes of determining the officepriority hasof jurisdiction.claims or losses.

(5) The commission mustmay adopt rules as necessary to implement this section.

Section 10.11.

EffectiveParagraph July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, paragraph (e) of subsection (3) of section 655.50, Florida Statutes, is amended to read:

(e) "Monetary instruments" means coin or currency of the United States or of any other country, travelers' checks, personal checks, bank checks, money orders, stored value cards, prepaid cards, gold coin or silver coin as those terms are defined in s.

215.986, investment securities or negotiable instruments in bearer form or otherwise in such form that title thereto passes Pageupon 25delivery, ofor 36similar CODING:devices.

Section 12.

Section 655.97, Florida Statutes, is created to read:

655.97 Gold and silver coin as legal tender.— Page 21 of 26 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1(1) 2025A uponfinancial delivery,institution ormay similarnot devices.be required to engage in any of the following activities:

Section(a) 11.Receive deposits, as defined in s.

Effective658.26(5)(c), Julyconsisting 1, 2026, upon legislative ratification of rulesgold ofcoin theor Financialsilver Servicescoin, Commissionas andthose theterms Chiefare Financialdefined Officer as provided in sections. 17 of this act, section 655.97, Florida Statutes, is created to read:

655.97215.986, Goldwhether andin silverphysical coinform asor legalby tender.—electronic (1)transfer. As used in this section, the term:

(a)(b) "CustodianExchange of gold coin or silver coin"coin for coin or "custodian"currency hasof the sameUnited meaningStates asor inof s.another country.

560.103(13).(2) To the extent that a financial institution accepts gold coin or silver coin deposits, the financial institution shall take all of the following actions:

(b)(a) "ElectronicMaintain transfer"separate hasaccounts for any gold coin or silver coin and not commingle such gold coin or silver coin with any other coin or currency of the sameUnited meaningStates asor inof s.another country.

215.986(1)(b).(b) Insure the gold coin or silver coin, if not otherwise insured by the custodian of gold coin or silver coin, for 100 percent of the full replacement value of any deposit under an all-risk insurance policy issued by a nongovernmental-operated insurer that is an authorized insurer or an eligible surplus lines insurer.

(c) "GoldSecurely coin"store hasand thesafeguard sameall meaningphysical asgold incoin s.or silver coin with a custodian of gold coin or silver coin within this state.

215.986(1)(c).(d) Comply, or be responsible and accountable for the Page 22 of 26 CODING:

(d) "Receive deposits" means the taking of gold coin or silver coin to be credited to a new or existing account.

(e) "Silver coin" has the same meaning as in s.

215.986(1)(f).

(2) As provided in s.

215.986(2)(e), a financial institution may not be required to offer any products or services relating to gold coin or silver coin, including, but not limited to, taking any of the following actions:

(a) Receiving deposits consisting of gold coin or silver coin, whether in physical form or by electronic transfer.

(b) Exchanging gold coin or silver coin for coin or currency of the United States or of another country.

Page 26 of 36 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed2025 1compliance 2025of (3)any Athird-party financialvendor institutionthat maystores notsuch incurgold anycoin liabilityand forsilver refusingcoin, towith offerthe productsrequirements orfor servicesa relatingcustodian toof gold coin or silver coin as provided in subsections. (1), except as specifically provided by contract.

(4) To the extent that a financial institution accepts gold coin or silver coin deposits or otherwise holds such coin on behalf of its customers, members, or the public, the financial institution must do all of the following:

(a) Except as provided in s.

560.214, maintain separate accounts for any gold coin or silver coin and not commingle such gold coin or silver coin with any other accounts that hold coin or currency of the United States or of another country.

(b) Insure the gold coin or silver coin, if not otherwise insured by a custodian of gold coin or silver coin pursuant to s.

560.214(1)(i), for 100 percent of the full replacement value under an all-risk insurance policy issued by a nongovernmental- operated insurer that is an authorized insurer or an eligible surplus lines insurer.

(c) If a financial institution decides to contract with a custodian of gold coin or silver coin, securely store and safeguard all physical gold coin or silver coin with such custodian within this state.

A financial institution that contracts with a custodian of gold coin or silver coin to store customer deposits must disclose to such customers the name and location of where the gold coin and silver coin are stored.

Page 27 of 36 CODING:

Words stricken are deletions;

words underlined are additions.

hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 (d) Comply, or be responsible and accountable for any third-party vendor that stores such gold coin or silver coin on its behalf to comply, with the requirements for a custodian of gold coin or silver coin as provided in s.

A(e) financialEnsure institutionthat regulatedany undergold thecoin financialor institutionssilver codecoin ofpurchased thisfor stateuse whichor actscirculation as alegal custodiantender is exempt from obtainingan aaccredited separaterefiner licenseor wholesaler that certifies that the gold coin or silver coin being purchased meets the requirements of gold coin and silver coin, as athose custodianterms pursuantare todefined in s.

560.204(1).

(e) Ensure that any gold coin or silver coin purchased for use or circulation as legal tender is from an accredited refiner or wholesaler as prescribed by commission rule which certifies that the gold coin or silver coin being purchased meets the requirements of gold coin and silver coin.

(f) Make disclosures to a customer at the inception of the relationship for providing products or services relating to gold coin or silver coin before a customer initially purchases or uses a product or service relating to such coin, prescribed on a form adopted by the commission.

The commission must adopt rules to prescribe the general form of such disclosures.

Such disclosures must include, at a minimum, all of the following:

1.

Notice that the value of gold coin or silver coin will fluctuate over time and that such customer should seek professional advice about whether transacting in gold coin or silver coin may incur a federal capital gains tax.

2.

Notice of potential fees that may be incurred for converting gold coin or silver coin to United States dollars or Page 28 of 36 CODING:

Words stricken are deletions;

words underlined are additions.

hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 other currency, or any other transaction fees that may be incurred which can be incorporated by referencing the company's terms and conditions.

3.

Any additional disclosures the commission deems necessary for the protection of any person or entity that tenders or accepts gold coin or silver coin for the payment of debts, taxes, charges, or dues.

(g) Provide transparent contracts, products, services, storage terms, and fees, including, but not limited to, purchase, sale, conversion, storage, delivery, transaction, or other fees.

The spot rate at which any gold coin or silver coin is converted must be disclosed at the time the gold coin or silver coin is converted.

(h) Comply with chain of custody requirements, as prescribed by commission rule.

(i) Comply with all other applicable state and federal regulations.

(5) The commission must adopt rules to implement this section.

Section 12.

Effective July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, subsection (2) of section 672.511, Florida Statutes, is amended to read:

672.511 Tender of payment by buyer;

payment by check.— Page 29 of 36 CODING:

Words stricken are deletions;

words underlined are additions.

hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 (2) Tender of payment is sufficient when made by any means or in any manner current in the ordinary course of business unless the seller demands payment in legal tender and gives any extension of time reasonably necessary to procure it.

As provided in s.

215.986(2)(e), this section may not be construed to compel a person to tender payment in gold coin or silver coin as defined in s.

(f) Comply with all other applicable state and federal regulations.

(3) The commission may adopt rules as necessary to implement this section.

EffectiveSubsection July(2) 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17672.511, of this act, section 731.1065, Florida Statutes, is amended to read:

731.1065672.511 PreciousTender metals.— (1) For the purposes of thepayment code,by goldbuyer; coin or silver coin that is legal tender pursuant to s.

215.986payment by check.— (2) Tender of payment is notsufficient tangiblewhen personalmade property.by any means or in any manner current in the ordinary course of business unless the seller demands payment in legal tender and gives any extension of time reasonably necessary to procure it.

PreciousAs metalsprovided in any tangible form, which are not legal tender pursuant to s.

215.986215.986(2)(b), andthis whichsection aremay suchnot asbe bullionconstrued orto coinscompel kepta andperson acquiredto fortender theirpayment historical,in artistic,gold collectable,coin or investmentsilver valuecoin. apart from their normal use as legal tender for payment, are tangible personal property.

(2)Section This14. section is effective on July 1, 2026, for decedents dying on or after July 1, 2026.

SectionThe 1Department of chapterFinancial 2020-67,Services Lawsmust ofsubmit Florida,a appliesreport toby decedentsJanuary dying before July 1, 20262026, intended to clarifythe existingGovernor, lawthe andPresident appliesof retroactivelythe toSenate, alland writtenthe instrumentsSpeaker executedof before,the on,House orof Page 3023 of 3626 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 afterRepresentatives Julywhich 1,contains 2020, as well as all proceedings pending or commenced before, on, or after July 1, 2020, in which the dispositionfollowing ofinformation: precious metals in any tangible form has not been finally determined.

Section(1) 14.The progress of implementing s.

Effective215.986, July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, paragraph (a) of subsection (4) of section 559.952, Florida Statutes,Statutes. is amended to read:

(2) An explanation of any challenge that requires additional legislation to ensure that gold coin or silver coin may be accepted by the state as legal tender for payment of debts pursuant to s.

215.986, Florida Statutes.

Section 15.

Paragraph (a) of subsection (4) of section 559.952, Florida Statutes, is amended to read:

Page 3124 of 3626 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 3.

Section 560.204(1), only to the extent that the subsection would prohibit a licensee from engaging in, or advertising that it engages in, the activity of a payment Page 3225 of 3626 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB ,999 Engrossed 1 2025 instrument seller or money transmitter during the sandbox period.

Section 15.16.

EffectiveThis Julyact 1,shall 2026,take effect upon legislativebecoming ratificationa oflaw. rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of this act, the Division of Law Revision is directed to:

(1)Page Add26 s.of 26 CODING:

560.155, Florida Statutes, as created by this act, to part I of chapter 560, Florida Statutes.

(2) Add s.

560.214, Florida Statutes, as created by this act, to part II of chapter 560, Florida Statutes.

(3) Rename part II of chapter 560, Florida Statutes, entitled "Payment Instruments and Funds Transmission" as "Payment Instruments, Funds Transmission, and Custodians of Gold and Silver Coin," consisting of ss.

560.203-560.214, Florida Statutes.

Page 33 of 36 CODING:

hb999hb999-01-c1 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 Section 16.

(1) The Department of Financial Services and the Office of Financial Regulation must submit a report by November 1, 2025, to the Governor, the President of the Senate, and the Speaker of the House of Representatives which contains all the following information:

(a) The rules adopted by the Financial Services Commission and the rules adopted by the Chief Financial Officer to implement this act.

(b) Whether the department intends to tender or accept gold coin or silver coin as payment of debts, taxes, charges, or dues.

(c) Whether the department or office anticipates any unintended consequences that may harm Florida's economy or its citizens by the implementation of this act.

(d) If applicable, an explanation of any challenges that require additional legislation to enable the state to choose to accept gold coin or silver coin as legal tender for payment of debts, taxes, charges, or dues pursuant to s.

215.986, Florida Statutes.

The department and office must provide proposed language for potential legislation to address any challenges identified.

(e) Any other recommendations to implement this act.

The department and office must provide proposed language for additional legislation that is needed to implement this act.

Such additional legislation includes, but is not limited to, Page 34 of 36 CODING:

Words stricken are deletions;

words underlined are additions.

hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 public records exemption language for the expanded exemption coverage under chapters 560 and 655, Florida Statutes, and language for the expanded application of fees to custodians of gold coin and silver coin in s.

560.141(1)(b), Florida Statutes.

(2) This section is effective upon becoming a law.

Section 17.

(1) The Chief Financial Officer shall adopt rules to implement s.

280.21, Florida Statutes, as created by this act.

The Financial Services Commission shall adopt rules to implement any provisions in chapter 560, Florida Statutes, or chapter 655, Florida Statutes, as created or amended by this act, including, but not limited to, ss.

560.155, 560.214, and 655.97, Florida Statutes.

Such rules must be adopted by November 1, 2025, and submitted to the President of the Senate and Speaker of the House of Representatives on or before November 1, 2025, in the report specified in section 16.

Such rules may not take effect until they are ratified by the Legislature.

The Chief Financial Officer and the Financial Services Commission shall notify the Division of Law Revision upon legislative ratification of such rules.

(2) This section is effective upon becoming a law solely for the purpose of adopting the rules required under this section, but such rules may not be implemented until such rules are ratified by the Legislature and until such time that the provisions for which the rules are adopted become law.

Section 18.

(1) To avoid this act taking effect before Page 35 of 36 CODING:

Words stricken are deletions;

words underlined are additions.

hb999 -02-e1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB , Engrossed 1 2025 the required rules have been adopted and ratified, this act shall stand repealed on June 30, 2026, unless reviewed and saved from repeal through reenactment by the Legislature after ratification of the required rules.

(2) This section is effective upon becoming a law.

Section 19.

Except as otherwise expressly provided in this act and except for this section, which shall take effect upon this act becoming a law, this act shall take effect July 1, 2026.

Page 36 of 36 CODING:

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words underlined are additions.

hb999 -02-e1