Florida 2022 Regular Session

Florida House Bill H1229 Compare Versions

Only one version of the bill is available at this time.

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3	3	HB 1229 2022
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7	7	CODING: Words stricken are deletions; words underlined are additions.
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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
15	15	An act relating to public records; creating s. 2
16	16	622.1465, F.S.; making the identities of specified 3
17	17	individuals and documents in certain trust proceedings 4
18	18	confidential and exempt; requiring the court to seal 5
19	19	any documents filed with the court in such 6
20	20	proceedings; prohibiting the court from releasing to 7
21	21	the public any of the sealed documents or information 8
22	22	contained therein; requiring the court to release suc h 9
23	23	documents and information to specified individuals; 10
24	24	providing a statement of public necessity; providing 11
25	25	an effective date. 12
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27	27	Be It Enacted by the Legislature of the State of Florida: 14
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29	29	Section 1. Section 662.1465, Florida Statutes, is created 16
30	30	to read: 17
31	31	662.1465 Confidentiality of certain trust proceedings and 18
32	32	other filings.—In trust proceedings in which a family trust 19
33	33	company, licensed family trust company, or foreign licensed 20
34	34	family trust company is a party, the identities of those who 21
35	35	establish, administer, or benefit from a trust and any 22
36	36	information relating to the trust are confidential and exempt 23
37	37	from s. 119.07(1) and s. 24(a), Art. I of the State Constitution 24
38	38	and must be protected in any court proceeding or filing related 25
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40	40	HB 1229 2022
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44	44	CODING: Words stricken are deletions; words underlined are additions.
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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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51	51	to the trust. The co urt shall seal any document filed with the 26
52	52	court in the trust proceeding, including, but not limited to, 27
53	53	the instrument on which the trust is based; any petitions, 28
54	54	briefs, or inventories; any statement or report filed by a 29
55	55	fiduciary; any court orders; and any other document in the court 30
56	56	case file. The court may not release to the public any of the 31
57	57	sealed documents or information contained therein, but shall 32
58	58	make them available to the following individuals: 33
59	59	(1) The settlor. 34
60	60	(2) Any fiduciary for the trus t. 35
61	61	(3) Any beneficiary of the trust. 36
62	62	(4) An attorney for a settlor, fiduciary, or beneficiary 37
63	63	of the trust. 38
64	64	(5) Any other person if, upon a showing of a specific 39
65	65	interest in the trust, a transaction relating to the trust, or 40
66	66	an asset held or previous ly held by the trust, the court 41
67	67	determines there is a compelling need for releasing the 42
68	68	information requested. 43
69	69	Section 2. Consistent with the broad public records 44
70	70	exemptions already granted to a family trust company, licensed 45
71	71	family trust company, or f oreign licensed family trust company 46
72	72	under s. 662.148, Florida Statutes, the Legislature finds that 47
73	73	it is a public necessity that trust proceedings involving such a 48
74	74	company be made confidential and exempt from s. 119.07(1), 49
75	75	Florida Statutes, and s. 24(a), Article I of the State 50
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77	77	HB 1229 2022
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81	81	CODING: Words stricken are deletions; words underlined are additions.
82	82	hb1229-00
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84	84	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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88	88	Constitution. Public disclosure in trust proceedings of 51
89	89	information relating to the customers, family members, members, 52
90	90	stockholders of a family trust company, licensed family trust 53
91	91	company, or foreign licensed family trust company w ould vitiate 54
92	92	other protections granted by law to such companies and their 55
93	93	constituents. In addition, trust proceedings often involve large 56
94	94	sums of money or vulnerable people who could be targeted for 57
95	95	exploitation or abuse. Public disclosure of sensitive fa mily and 58
96	96	financial information in trust proceedings can result in 59
97	97	specific harm to beneficiaries and other interested parties in 60
98	98	such cases. Therefore, in the limited circumstance of trust 61
99	99	proceedings involving a family trust company, licensed family 62
100	100	trust company, or foreign licensed family trust company, the 63
101	101	Legislature finds that the need to protect the confidentiality 64
102	102	of such companies and their constituents and protect the 65
103	103	identities of beneficiaries of trusts and sensitive financial 66
104	104	information contained in such proceedings is sufficiently 67
105	105	compelling to override the state's public policy of open 68
106	106	government and that the protection of such information cannot be 69
107	107	accomplished without this exemption. 70
108	108	Section 3. This act shall take effect on the same date 71
109	109	that HB 1001, or similar legislation takes effect , if such 72
110	110	legislation is adopted in the same legislative session or an 73
111	111	extension thereof and becomes a law. 74