FL S1000

Creates section 655.98, Florida Statutes, authorizing financial institutions to hold funds in interest-bearing trust accounts for lawyers or law firms

Requires interest or dividends from these accounts to be remitted to an entity established by the Supreme Court

Mandates the Supreme Court entity use the funds to provide free legal services to low-income individuals or for other purposes expressly authorized by Supreme Court rule

Sets the interest rate at the Wall Street Journal prime rate minus 300 basis points, with a floor of 0.25% and a ceiling of 1.5%, calculated on the first business day of each month

Takes effect July 1, 2026