Kentucky House Bill 155 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 11 2012 - 100% progression
Action: 2012-04-11 - signed by Governor (Acts ch. 59)
Text: Latest bill text (Draft #3) [MS Word]

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.

AN ACT relating to the creation and administration of trusts and estates.

Rep. Thomas Kerr [R]

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

Type	Source
Summary	http://www.lrc.ky.gov/record/12RS/HB155.htm
Text	http://www.lrc.ky.gov/record/12RS/HB155/bill.doc