FL S1430

Summary: CS for SB 1430 — Postjudgment Execution Proceedings Relating to Terrorism

• Amends Florida Statute 772.13 to expand postjudgment collection tools against terrorist parties, including agencies or instrumentalities of the terrorist party not named in the original judgment, under Florida law, 18 U.S.C. § 2333, or substantially similar U.S. or state laws

• Allows writs of garnishment and proceedings supplementary to reach intangible assets wherever located—including bank accounts, financial assets, and other intangible property—without territorial limitation, by deeming the situs of such assets to be in Florida when held by a person or entity served with process

• Permits creditors to serve legal process on U.S. securities custodians or intermediaries that have reported blocked financial assets to the Office of Foreign Assets Control (OFAC) when the debtor's securities intermediary is a foreign entity, making those assets subject to execution, garnishment, and turnover

• Deems blocked electronic funds transfers—canceled after 5 banking days due to U.S. sanctions compliance where a terrorist party or its agency was the originator or intended beneficiary—to be owned by the terrorist party and subject to execution and garnishment

• Applies retroactively to all postjudgment execution proceedings, including creditor process served, pending, or filed before, on, or after July 1, 2025