SENATE BILL 633

Sponsored By:

Senator Stone

Entitled:

Estates and Trusts - Stock Distributions

Synopsis:

Establishing that, for purposes of determining income and principal of a trust, a stock distribution or spin-off of shares of stock of a corporation that had been owned or acquired by the distributing corporation is principal.

Legislative History

Senate Action

1/31

First Reading Judicial Proceedings

2/5

Hearing 2/27 at 1:00 p.m.

3/10

Favorable Report by Judicial Proceedings

3/11

Favorable Report Adopted

Second Reading Passed

3/13

Third Reading Passed (47-0)

3/31

Returned Passed

5/22

Signed by the Governor Chapter 608

House Action

3/14

First Reading Judiciary

3/18

Hearing 3/26 at 1:00 p.m.

3/27

Favorable Report by Judiciary

3/25

Favorable Report Adopted

Second Reading Passed

3/27

Third Reading Passed (134-0)

Bill indexed under the following Subjects:

ESTATES AND TRUSTS -see also- FIDUCIARIES

SECURITIES

Bill affects the following Statute:

Estates and Trusts

( 14-205 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)