Revise funeral trust laws
SB 305 revises laws related to funeral trusts. It requires that money received for prearranged funeral or related services, which is held in a trust fund, must comply with the prudent investor rule. This means that the financial institutions or entities holding these funds must manage them according to a specified standard for investments, a requirement that cannot be waived. The bill directly affects providers of prearranged funeral services and the individuals who contract for them by setting a new standard for how their trust funds are invested.
Bill status
signed
all 5 stages cleared
Introduction
Feb 2025
Committee Review
Mar 2025
Senate Passage
Apr 2025
House Passage
Apr 2025
Signed into Law
Apr 2025
Introduced Feb 12, 2025
Signed Apr 18, 2025
Maddy AI version diff · 5 comparisons
What changed between versions
SB0305_X(3).pdf
→
SB0305_X(4).pdf
·
2 edits
MINOR
The bill text shows minor formatting adjustments, such as the removal of extra blank lines and the standardization of indentation for the sponsor's name. There are no substantive policy changes, new requirements, or modifications to the bill's scope or applicability.
TECHNICAL
Removed extra blank lines and inconsistent spacing at the end of the document.
Adjusted indentation for the 'INTRODUCED BY' line to align with the rest of the text.
Floor votes · Senate Feb 27, 2025 · House Mar 28, 2025
How they voted
50–0
Passed
Total votes 50
Feb 27, 2025
D
Democratic18
100% Yea
R
Republican32
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
37
Key actions
9
Committee
6
Apr 17, 2025
Signed into law
(S) Signed by Governor
upper
Apr 8, 2025
Lower · Passed
(H) Signed by Speaker
lower
Apr 2, 2025
Upper · Passed
(S) Signed by President
upper
Mar 28, 2025
House · Passed
House Vote: pass (98-1-1)
house
Mar 21, 2025
Lower · Passed
(H) Committee Report - (H) Business and Labor
lower
Mar 21, 2025
Lower · Passed
(H) Committee Executive Action - (H) Business and Labor
lower
Feb 28, 2025
Committee
(H) Referred to Committee - (H) Business and Labor
lower
Feb 27, 2025
Senate · Passed
Senate Vote: pass (50-0)
senate
Feb 24, 2025
Upper · Passed
(S) Committee Report - (S) Business, Labor and Economic Affairs
upper
Feb 24, 2025
Upper · Passed
(S) Committee Executive Action - (S) Business, Labor and Economic Affairs
upper
Feb 12, 2025
Committee
(S) Referred to Committee - (S) Business, Labor and Economic Affairs
upper
Feb 12, 2025
Introduced
(S) Introduced
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Mike Cuffe
RRepublican
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