Florida S1000 creates a trust account interest rate for lawyers and law firms, directing interest to be used for free legal services for low-income.

Florida S1000 establishes a new section in Florida Statutes, authorizing financial institutions to hold funds in interest-bearing trust accounts for lawyers and law firms. The interest or dividends from these accounts must be remitted to an entity established by the Supreme Court. This entity is required to use the interest or dividends to provide or facilitate the provision of free legal services to low-income individuals or for other purposes expressly authorized by Supreme Court rule.

Florida S1000 creates a trust account interest rate for lawyers and law firms, directing interest to be used for free legal services for low-income.

Florida S1000 establishes a new section in Florida Statutes, authorizing financial institutions to hold funds in interest-bearing trust accounts for lawyers and law firms. The interest or dividends from these accounts must be remitted to an entity established by the Supreme Court. This entity is required to use the interest or dividends to provide or facilitate the provision of free legal services to low-income individuals or for other purposes expressly authorized by Supreme Court rule.