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| 3 | 3 | | HB 649 2022 |
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| 6 | 6 | | |
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| 7 | 7 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 8 | 8 | | hb0649-00 |
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| 9 | 9 | | Page 1 of 2 |
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| 10 | 10 | | 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 |
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| 14 | 14 | | A bill to be entitled 1 |
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| 15 | 15 | | An act relating to transfers in divorce; amending s. 2 |
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| 16 | 16 | | 222.21, F.S.; specifying that certain interests 3 |
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| 17 | 17 | | received by a transferee after a divorce are exempt 4 |
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| 18 | 18 | | from claims of creditors upon being awarded to or 5 |
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| 19 | 19 | | received by the transferee; specifying that such 6 |
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| 20 | 20 | | interests remain exempt; providing retroactive 7 |
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| 21 | 21 | | applicability; providing an effective date. 8 |
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| 22 | 22 | | 9 |
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| 23 | 23 | | Be It Enacted by the Legislature of the State of Florida: 10 |
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| 24 | 24 | | 11 |
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| 25 | 25 | | Section 1. Paragraph (c) of subsection (2) of section 12 |
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| 26 | 26 | | 222.21, Florida Statutes, is amended to read: 13 |
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| 27 | 27 | | 222.21 Exemption of pension money and certain tax -exempt 14 |
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| 28 | 28 | | funds or accounts from legal processes. — 15 |
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| 29 | 29 | | (2) 16 |
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| 30 | 30 | | (c) Any money or other assets or any interest i n any fund 17 |
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| 31 | 31 | | or account that is exempt from claims of creditors of the owner, 18 |
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| 32 | 32 | | beneficiary, or participant under paragraph (a) does not cease 19 |
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| 33 | 33 | | to be exempt after the owner's death by reason of a direct 20 |
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| 34 | 34 | | transfer or eligible rollover that is excluded from gross income 21 |
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| 35 | 35 | | under the Internal Revenue Code of 1986, including, but not 22 |
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| 36 | 36 | | limited to, a direct transfer or eligible rollover to an 23 |
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| 37 | 37 | | inherited individual retirement account as defined in s. 24 |
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| 38 | 38 | | 408(d)(3) of the Internal Revenue Code of 1986, as amended. An 25 |
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| 40 | 40 | | HB 649 2022 |
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| 44 | 44 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 45 | 45 | | hb0649-00 |
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| 46 | 46 | | Page 2 of 2 |
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| 47 | 47 | | 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 |
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| 50 | 50 | | |
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| 51 | 51 | | interest in any fund or account awarded or received in a 26 |
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| 52 | 52 | | transfer incident to divorce described in s. 408(d)(6) of the 27 |
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| 53 | 53 | | Internal Revenue Code of 1986, as amended, is exempt upon the 28 |
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| 54 | 54 | | interest being awarded or received and continues to be exempt 29 |
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| 55 | 55 | | thereafter. This paragraph is intended to clarify existing law, 30 |
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| 56 | 56 | | is remedial in nature, and shall have retroactive application to 31 |
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| 57 | 57 | | all inherited individual retirement accounts and to each 32 |
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| 58 | 58 | | transfer incident to divorce without regard to the date an 33 |
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| 59 | 59 | | account was created or the transfer was made. 34 |
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| 60 | 60 | | Section 2. This act shall take effect upon becoming a law. 35 |
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