Bill Text: IA SF173 | 2021-2022 | 89th General Assembly | Enrolled
Bill Title: A bill for an act relating to trusts, including requirements for certifications of trust and the general order of abatement. (Formerly SSB 1012.) Effective date: 07/01/2021.
Spectrum: Committee Bill
Status: (Passed) 2021-03-08 - Signed by Governor. S.J. 554. [SF173 Detail]
Download: Iowa-2021-SF173-Enrolled.html
Senate
File
173
-
Enrolled
Senate
File
173
AN
ACT
RELATING
TO
TRUSTS,
INCLUDING
REQUIREMENTS
FOR
CERTIFICATIONS
OF
TRUST
AND
THE
GENERAL
ORDER
OF
ABATEMENT.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
633A.4604,
subsection
2,
Code
2021,
is
amended
by
adding
the
following
new
paragraphs:
NEW
PARAGRAPH
.
0a.
State
the
names
of
all
the
currently
acting
trustees.
NEW
PARAGRAPH
.
00a.
If
there
is
more
than
one
currently
acting
trustee,
state
whether
the
trustees
may
act
individually
or
must
act
by
majority
decision
or
must
act
by
unanimous
decision.
Sec.
2.
Section
633A.4604,
subsection
2,
paragraph
c,
Code
2021,
is
amended
to
read
as
follows:
c.
Be
dated
and
certified
under
penalty
of
perjury
and
pursuant
to
the
laws
of
the
state
of
Iowa
that
the
certification
of
trust
is
true
and
correct
or
be
subscribed
and
sworn
to
under
penalty
of
perjury
before
a
notary
public
as
provided
in
chapter
9B
.
Sec.
3.
Section
633A.4703,
subsection
4,
Code
2021,
is
amended
to
read
as
follows:
4.
Notwithstanding
subsections
1,
2,
or
3
,
a
disposition
in
favor
of
the
settlor’s
surviving
spouse
who
does
not
take
an
elective
share
shall
not
be
abated
where
such
abatement
would
Senate
File
173,
p.
2
have
the
effect
of
increasing
the
amount
of
federal
estate
or
federal
gift
taxes
payable
by
a
person
or
an
entity
last
.
______________________________
JAKE
CHAPMAN
President
of
the
Senate
______________________________
PAT
GRASSLEY
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
173,
Eighty-ninth
General
Assembly.
______________________________
W.
CHARLES
SMITHSON
Secretary
of
the
Senate
Approved
_______________,
2021
______________________________
KIM
REYNOLDS
Governor
