Fla. High Court Adds Restrictions on Distribution of IOTA Funds

Law360 (Jun 18, 2021, 8:00 PM EDT) – The Florida Supreme Court on Friday put restrictions on the distribution of funds from interest in attorney’s escrow accounts, but added changes requested to mitigate the blow of changes that legal aid groups added warned that they would cripple their ability to serve low-income people.

The new changes restrict the use of IOTA funds to provide or facilitate direct legal services to low-income individuals, and impose additional reporting and transparency requirements on both the Florida Bar Foundation, which manages the funds, and the receiving organizations .

“This court is committed to improving access to justice across the state, and the changes we have adopted …

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