1997 Regular Session

HOUSE BILL 1103

File Code: Estates and Trusts Crossfiled with: SENATE BILL 633
Sponsored By:
Delegate Montague
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

House Action
2/6
First Reading Judiciary
2/5
Hearing 2/21 at 1:00 p.m.
2/24
Favorable Report by Judiciary
2/25
Favorable Report Adopted
Second Reading Passed
2/27
Third Reading Passed (135-2)
3/30
Returned Passed
5/22
Governor vetoed - Cross-filed bill was signed
Senate Action
2/28
First Reading Judicial Proceedings
3/31
Favorable Report by Judicial Proceedings
4/1
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (47-0)
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)