Florida Senate - 2021                        COMMITTEE AMENDMENT
       Bill No. SB 702
       
       
       
       
       
       
                                Ì923642#Î923642                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/02/2021           .                                
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       The Committee on Judiciary (Thurston) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 25 - 33
    4  and insert:
    5  408(d)(3) of the Internal Revenue Code of 1986, as amended. An
    6  interest in any fund or account awarded or received in a
    7  transfer incident to divorce described in s. 408(d)(6) of the
    8  Internal Revenue Code of 1986, as amended, is exempt upon the
    9  interest being awarded or received and continues to be exempt
   10  thereafter. This paragraph is intended to clarify existing law,
   11  is remedial in nature, and shall have retroactive application to
   12  all inherited individual retirement accounts and to each
   13  transfer incident to divorce without regard to the date an
   14  account was created or the transfer was made.
   15  
   16  ================= T I T L E  A M E N D M E N T ================
   17  And the title is amended as follows:
   18         Delete lines 3 - 6
   19  and insert:
   20         amending s. 222.21, F.S.; specifying that certain
   21         interests received by a transferee after a divorce are
   22         exempt from claims of creditors upon being awarded to
   23         or received by the transferee; specifying that such
   24         interests remain exempt; providing