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FL S0102
Bill
Status
12/11/2012
Primary Sponsor
Banking and Insurance
Click for details
AI Summary
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Defines "charitable contribution" as contributions of financial instruments or cash made to entities qualifying under Internal Revenue Code section 170(c).
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Establishes that transfers of charitable contributions received in good faith by qualified religious or charitable organizations are not fraudulent transfers under Florida law.
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Exempts charitable contributions from being deemed fraudulent unless made within 2 years before bankruptcy or insolvency proceedings, unless the contribution was consistent with prior giving practices or did not exceed 15 percent of the debtor's gross annual income.
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Updates cross-references in sections 213.758, 718.704, and 721.05 to reflect new subsection numbering in section 726.102 relating to insider and relative definitions.
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Takes effect July 1, 2013, and applies to all charitable contributions made on or after that date.
Legislative Description
Charitable Contributions
Last Action
Laid on Table, companion bill(s) passed, see CS/HB 95 (Ch. 2013-189)
4/24/2013