The Florida Bar Foundation and a special committee looking at the collection and expenditure of IOTA funds have reached an agreement on a proposed IOTA rule being submitted to the Supreme Court.

Task Force on the Distribution of IOTA Funds Chair Mayanne Downs, a former Bar president, announced the agreement at a short task force meeting on August 31. The version was substantially what task force member and Third District Court of Appeal Judge Ed Scales had discussed two weeks earlier at the task force’s previous meeting.

Downs noted the task force on June 12 adopted a preliminary amendment for Bar Rule 5-1.1(g), which governs the IOTA program, that would allow multiple IOTA fund administrators and removed the Foundation, now designated as the sole administrator, from any mention in the rule.