Saturday, November 22, 2014

CS/HB 823 - Florida Uniform Principal and Income Act

General Bill   by Civil Justice Subcommittee and McBurney and Bernard
Florida Uniform Principal and Income Act: Defines term "carrying value"; provides application; deletes provision authorizing trustee to release power to adjust between principal & income if trustee desires to convert form of certain trusts; limits power to adjust trust; deletes provision that provides construction & application relating to administration of trusts in this state or under this state's law; defines term "average fair market value" & revises term "unitrust amount"; deletes duplicative provision relating to conclusive determinations of terms of unitrust; revises provisions relating to express total return unitrust; substitutes term "trustee" for "fiduciary" with respect to judicial control of discretionary powers; revises provisions relating to determination & distribution of net income; revises provisions relating to distributions to residuary & remainder beneficiaries; substitutes term "fiduciary" for "trustee" to clarify that provisions apply to all fiduciaries; revises how distributions from entities are allocated between income & principal; revises provisions relating to allocations to trusts; revises provisions relating to allocation between income & principal when liquidating assets; clarifies apportionment of expenses between tenants & remaindermen.
Companion Bill passed CS/SB 1050 Fiduciaries By Banking and Insurance and Bogdanoff
Effective Date: January 1, 2013
Last Event: Companion Bill passed, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49) on Tuesday, March 06, 2012 12:49 PM; HB Laid on Table

Referred Committees and Committee Actions

House Referrals

    -   Civil Justice Subcommittee
           On agenda for: 01/11/12 11:30 AM              Notice
        Favorable With Committee Substitute (final action)              See Votes
 
    -   Insurance & Banking Subcommittee
           On agenda for: 01/24/12 2:00 PM              Notice
        Favorable (final action)              See Votes
 
    -   Judiciary Committee
           On agenda for: 02/08/12 8:30 AM              Notice
        Favorable (final action)              See Votes
 

Related Bills

Bill # Subject Relationship
CS/SB 978 Florida Uniform Principal and Income Act Similar
CS/SB 1050 Fiduciaries Similar

Bill Text

Staff Analysis

Vote History

(no votes recorded)

Bill History

Event Time Member Committee
Laid on Table, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49) Tuesday, March 06, 2012 12:49 PM
Added to Second Reading Calendar Wednesday, February 08, 2012 1:59 PM
Bill released to House Calendar Wednesday, February 08, 2012 1:59 PM
Reported out of Judiciary Committee Wednesday, February 08, 2012 1:59 PM Judiciary Committee
Favorable by Judiciary Committee Wednesday, February 08, 2012 10:30 AM Judiciary Committee
Added to Judiciary Committee agenda Monday, February 06, 2012 4:16 PM Judiciary Committee
Now in Judiciary Committee Thursday, January 26, 2012 11:29 AM Judiciary Committee
Reported out of Insurance & Banking Subcommittee Thursday, January 26, 2012 11:29 AM Insurance & Banking Subcommittee
Favorable by Insurance & Banking Subcommittee Tuesday, January 24, 2012 4:30 PM Insurance & Banking Subcommittee
Added to Insurance & Banking Subcommittee agenda Friday, January 20, 2012 4:20 PM Insurance & Banking Subcommittee
Now in Insurance & Banking Subcommittee Friday, January 20, 2012 1:27 PM Insurance & Banking Subcommittee
Referred to Judiciary Committee Friday, January 20, 2012 1:27 PM Judiciary Committee
Referred to Insurance & Banking Subcommittee Friday, January 20, 2012 1:27 PM Insurance & Banking Subcommittee
1st Reading Thursday, January 19, 2012 7:48 PM
CS Filed Thursday, January 19, 2012 7:42 AM
Laid on Table under Rule 7.19(a) Thursday, January 19, 2012 7:42 AM
Reported out of Civil Justice Subcommittee Wednesday, January 18, 2012 7:47 PM Civil Justice Subcommittee
Favorable with CS by Civil Justice Subcommittee Wednesday, January 11, 2012 2:00 PM Civil Justice Subcommittee
1st Reading Tuesday, January 10, 2012 11:59 PM
PCS added to Civil Justice Subcommittee agenda Monday, January 09, 2012 4:17 PM Civil Justice Subcommittee
Now in Civil Justice Subcommittee Monday, December 12, 2011 9:04 AM Civil Justice Subcommittee
Referred to Judiciary Committee Monday, December 12, 2011 9:04 AM Judiciary Committee
Referred to Insurance & Banking Subcommittee Monday, December 12, 2011 9:04 AM Insurance & Banking Subcommittee
Referred to Civil Justice Subcommittee Monday, December 12, 2011 9:04 AM Civil Justice Subcommittee
Filed Wednesday, November 30, 2011 4:40 PM McBurney

Statutes Referenced by this Bill

738.102
738.103
738.104
738.1041
738.105
738.201
738.202
738.301
738.302
738.303
738.401
738.402
738.403
738.501
738.502
738.503
738.504
738.601
738.602
738.603
738.604
738.605
738.606
738.607
738.608
738.701
738.702
738.703
738.704
738.705
738.801
 

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