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FL S0854

Bill

Status

Passed

4/1/2016

Primary Sponsor

Regulated Industries

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Adds email addresses as required information for funeral, cemetery, and consumer services licensure applications and licensee records, with email notification becoming the primary communication method.

  • Creates new withdrawal methods for cemetery care and maintenance trust funds: "net income withdrawal method" (monthly withdrawals of earned net income) and "total return withdrawal method" (quarterly withdrawals up to 5% of fair market value annually), with taxes on capital gains paid from trust principal.

  • Removes the alternative surety bond option for preneed licensees under section 497.461 (with grandfather clause for existing licensees as of July 1, 2016) and requires trustees to furnish annual reports on preneed trust accounts beginning April 1, 2018.

  • Specifies that cremated remains are not property and cannot be divided without consent from the legally authorized person who approved the cremation, with disputes resolved by court order.

  • Changes disciplinary provisions to require (rather than authorize) the Board of Funeral, Cemetery, and Consumer Services to provide criteria for minor trust remittance deficiencies and prohibits fines if deficiencies are fully corrected within 30 days.

Legislative Description

Funeral, Cemetery, and Consumer Services

Last Action

Chapter No. 2016-172

4/1/2016

Committee Referrals

Fiscal Policy1/22/2016
Regulated Industries1/13/2016
Banking and Insurance12/3/2015

Full Bill Text

No bill text available