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House Bill 155

Actions | Amendments

Last Action	signed by Governor (Acts ch. 59)
Title	AN ACT relating to the creation and administration of trusts and estates.
Bill Documents	Bill
Bill Request Number	341
Sponsor	T. Kerr
Summary of Original Version	Amend KRS 386.454 relating to the Kentucky Principal and Income Act to permit a trustee to reallocate principal to income without court approval under named circumstances; amend KRS 386.450 to define "unitrust"; create new sections and amend sections of KRS Chapter 386 to create Kentucky "decanting" statutes to permit creation of a new trust; amend KRS 386.502 to clarify the effective date of the Kentucky Uniform Principal and Income Act; amend KRS 386.810 and 395.195 to permit trustee to deal with Medicare surtax issues; amend KRS 381.180 relating to spendthrift trusts to deal with Federal income tax and related issues; create new sections of KRS Chapter 387 to create a self-settled special needs "Pay Back" trust.
Index Headings of Original Version	Fiduciaries - Trusts and estates, administration of, probate matters Guardians - Trusts and estates, administration of, probate matters Liens - Trusts and estates, administration of, probate matters Property - Trusts and estates, administration of, probate matters Securities - Trusts and estates, administration of, probate matters Taxation - Trusts and estates, administration of, probate matters Taxation, Income--Individual - Trusts and estates, administration of, probate matters Taxation, Inheritance and Estate - Trusts and estates, administration of, probate matters Taxation, Property - Trusts and estates, administration of, probate matters Wills and Estates - Trusts and estates, administration of, probate matters Banks and Financial Institutions - Trusts and estates, administration of, probate matters Charitable Organizations and Institutions - Trusts and estates, administration of, probate matters Civil Procedure - Trusts and estates, administration of, probate matters Consumer Affairs - Trusts and estates, administration of, probate matters Deeds and Conveyances - Trusts and estates, administration of, probate matters Disabilities and the Disabled - Trusts and estates, administration of, probate matters
Proposed Amendments	House Committee Substitute 1 Senate Floor Amendment 1
Votes	Vote History

Actions

Top | Amendments

12/16/11	Prefiled by the sponsor(s).
01/03/12	introduced in House to Judiciary (H)
03/05/12	posted in committee
03/07/12	reported favorably, 1st reading, to Consent Calendar with Committee Substitute
03/08/12	2nd reading, to Rules posted for passage in the Consent Orders of the Day for Monday, March 12, 2012
03/12/12	3rd reading, passed 95-0 with Committee Substitute
03/13/12	received in Senate
03/15/12	to Judiciary (S)
03/22/12	reported favorably, 1st reading, to Calendar floor amendment (1) filed
03/23/12	2nd reading, to Rules
03/27/12	posted for passage in the Regular Orders of the Day for Tuesday, March 27, 2012 3rd reading, passed 36-0 with floor amendment (1)
03/28/12	received in House to Rules (H)
03/30/12	posted for passage for concurrence in Senate floor amendment (1) House concurred in Senate floor amendment (1) passed 92-0 enrolled, signed by each presiding officer delivered to Governor
04/11/12	signed by Governor (Acts ch. 59)

Proposed Amendments

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Amendment	House Committee Substitute 1
Summary	Make technical corrections.
Index Headings	Fiduciaries - Trusts and estates, administration of, probate matters Guardians - Trusts and estates, administration of, probate matters Liens - Trusts and estates, administration of, probate matters Property - Trusts and estates, administration of, probate matters Securities - Trusts and estates, administration of, probate matters Taxation - Trusts and estates, administration of, probate matters Taxation, Income--Individual - Trusts and estates, administration of, probate matters Taxation, Inheritance and Estate - Trusts and estates, administration of, probate matters Taxation, Property - Trusts and estates, administration of, probate matters Wills and Estates - Trusts and estates, administration of, probate matters Banks and Financial Institutions - Trusts and estates, administration of, probate matters Charitable Organizations and Institutions - Trusts and estates, administration of, probate matters Civil Procedure - Trusts and estates, administration of, probate matters Consumer Affairs - Trusts and estates, administration of, probate matters Deeds and Conveyances - Trusts and estates, administration of, probate matters Disabilities and the Disabled - Trusts and estates, administration of, probate matters

Amendment	Senate Floor Amendment 1
Sponsor	R. Stivers II
Summary	Amend to provide that when notice is to be provided by the trustee to a beneficiary in order to effectuate an act by the trustee, the notice must be delivered to the beneficiary by certified mail, restricted delivery, with a return receipt; provide that if delivery cannot be made to a beneficiary then authorize the trustee to seek court approval to effectuate the purpose behind the notice.
Index Headings	Fiduciaries - Trusts and estates, administration of, probate matters Guardians - Trusts and estates, administration of, probate matters Liens - Trusts and estates, administration of, probate matters Property - Trusts and estates, administration of, probate matters Securities - Trusts and estates, administration of, probate matters Taxation - Trusts and estates, administration of, probate matters Taxation, Income--Individual - Trusts and estates, administration of, probate matters Taxation, Inheritance and Estate - Trusts and estates, administration of, probate matters Taxation, Property - Trusts and estates, administration of, probate matters Wills and Estates - Trusts and estates, administration of, probate matters Banks and Financial Institutions - Trusts and estates, administration of, probate matters Charitable Organizations and Institutions - Trusts and estates, administration of, probate matters Civil Procedure - Trusts and estates, administration of, probate matters Consumer Affairs - Trusts and estates, administration of, probate matters Deeds and Conveyances - Trusts and estates, administration of, probate matters Disabilities and the Disabled - Trusts and estates, administration of, probate matters

Last updated: 8/27/2019 8:05 PM (EDT)