HB 893: Trust Fund Interest for Purposes Approved by Supreme Court
HB 893 status: Vetoed — Vetoed by Governor (updated Jun 30, 2026).
What this bill does
Overall score
Bill summary
OfficialTrust Fund Interest for Purposes Approved by Supreme Court; Authorizes financial institutions to hold funds in specified trust accounts used for specified purposes expressly authorized by Supreme Court rule; requires certain entities to use interest & dividends for specified purposes; requires certain financial institu...
Key analysis
Impact analysis
Environment
Benefits
- No material impact identified
Risks
- No material impact identified
Economy
Benefits
- Standardizes trust account interest handling
Risks
- Mandates interest payments on private assets
- Imposes administrative requirements on financial institutions
Society
Benefits
- Could fund court-authorized public interest initiatives
Risks
- Potential for higher fees on clients to cover compliance costs
How trustworthy & consequential it is
Source
OpenStates
Confidence
lowlow
Analysis status
OpenStates summary
The bill was vetoed, indicating significant concerns regarding its legality or policy impact
Analysis based solely on a high-level abstract
Where it stands
Introduced
CompleteCommittee
CompleteFloor
CompleteGovernor
CompleteEnacted
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