senate Bill S7244

Signed By Governor
2013-2014 Legislative Session

Makes technical correction relating to exercise of power of appointment and an authorized trustee's authority to invade trust principal

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A9757 - Signed by Governor

  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 22, 2014 signed chap.130
Jul 11, 2014 delivered to governor
Jun 10, 2014 returned to assembly
passed senate
3rd reading cal.668
substituted for s7244
Jun 10, 2014 substituted by a9757
May 19, 2014 advanced to third reading
May 14, 2014 2nd report cal.
May 13, 2014 1st report cal.668
May 07, 2014 referred to judiciary


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S7244 - Details

See Assembly Version of this Bill:
Law Section:
Estates, Powers and Trusts Law
Laws Affected:
Amd §10-6.6, EPT L

S7244 - Summary

Makes a technical correction relating to exercise of power of appointment and an authorized trustee's authority to invade trust principal.

S7244 - Sponsor Memo

S7244 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K


                            I N  S E N A T E

                               May 7, 2014

Introduced  by Sen. BONACIC -- (at request of the Office of Court Admin-
  istration) -- read twice and ordered printed, and when printed  to  be
  committed to the Committee on Judiciary

AN  ACT  to amend the estates, powers and trusts law, in relation to the
  exercise of a power of appointment and an authorized trustee's author-
  ity to invade trust principal


  Section  1.  Subparagraph 10 of paragraph (s) of section 10-6.6 of the
estates, powers and trusts law, as added by chapter 482 of the  laws  of
2013, is amended to read as follows:
  (10)  The  creator  shall  not be considered to be a beneficiary of an
invaded or appointed trust by reason of the trustee's authority  to  pay
trust  principal  to  the  creator pursuant to section [7-1.1] 7-1.11 of
this chapter or by reason of the trustee's  authority  under  the  trust
instrument or any other provision of law to pay or reimburse the creator
for  any  tax  on trust income or trust principal that is payable by the
creator under the law imposing such tax or to pay any such tax  directly
to the taxing authorities.
  S  2.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after November 13, 2013.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.


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