Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 12, 2017 |
signed chap.278 |
Aug 31, 2017 |
delivered to governor |
Jun 20, 2017 |
returned to assembly passed senate 3rd reading cal.426 substituted for s2079 |
Jan 24, 2017 |
referred to judiciary delivered to senate passed assembly |
Jan 23, 2017 |
ordered to third reading rules cal.14 rules report cal.14 reported reported referred to rules |
Jan 12, 2017 |
referred to judiciary |
Assembly Bill A1482
Signed By Governor2017-2018 Legislative Session
Sponsored By
WEINSTEIN
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
William Colton
Jeffrey Dinowitz
2017-A1482 (ACTIVE) - Details
2017-A1482 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1482 2017-2018 Regular Sessions I N A S S E M B L Y January 12, 2017 ___________ Introduced by M. of A. WEINSTEIN, COLTON, DINOWITZ -- read once and referred to the Committee on Judiciary AN ACT to amend the estates, powers and trusts law, in relation to a trustee's power to adjust under the prudent investor act THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph 5 of paragraph (b) of section 11-2.3 of the estates, powers and trusts law is amended by adding a new clause (G) to read as follows: (G) ANY EXERCISE OF THE POWER TO ADJUST UNDER THIS SUBPARAGRAPH, WHETHER FROM INCOME TO PRINCIPAL OR FROM PRINCIPAL TO INCOME, SHALL CONSTITUTE A RE-CHARACTERIZATION OF THE TRANSFERRED AMOUNT FROM INCOME TO PRINCIPAL OR FROM PRINCIPAL TO INCOME, AS THE CASE MAY BE, FOR PURPOSES OF CALCULATING COMMISSIONS UNDER ARTICLE TWENTY-THREE OF THE SURROGATE'S COURT PROCEDURE ACT AND, FOR SUCH PURPOSES, SUCH RE-CHARAC- TERIZATION SHALL BE DEEMED TO TAKE EFFECT ON THE DATE THAT SUCH TRANSFER FROM INCOME TO PRINCIPAL OR FROM PRINCIPAL TO INCOME, AS THE CASE MAY BE, IS MADE ON A TRUST'S RECORDS. § 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02867-01-7
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