Format Paint Functionality

One very helpful features in PowerPoint/Word for me has been the Format Paint tool. I'm having some issues getting it to work the same way in Storyline.

I am able to use the tool to change the format of shapes. I am also able to use the tool to change the format of text within the same text box. What I am having trouble doing is taking formatting from text in one text box and applying it to text in another text box

As you can see below, the format paint cursor shows up in the same text box, but when I move it to another text box its not there. Any ideas?

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