Bill Text: NH HB1491 | 2016 | Regular Session | Introduced

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Bill Title: Relative to trust fund interest.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2016-03-09 - Inexpedient to Legislate: Motion Adopted Voice Vote 03/09/2016 House Journal 23 P. 7 [HB1491 Detail]

Download: New_Hampshire-2016-HB1491-Introduced.html

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HB 1491 - AS INTRODUCED

 

2016 SESSION

16-2607

01/09

 

HOUSE BILL 1491

 

AN ACT relative to trust fund interest.

 

SPONSORS: Rep. Kurk, Hills. 2

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill requires all interest earned on a charitable trust to be paid to the trust fund or the beneficiary of the trust.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

16-2607

01/09

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Sixteen

 

AN ACT relative to trust fund interest.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  New Section; Trust Fund Interest.  Amend RSA 7 by inserting after section 28-f the following new section:

7:28-g  Trust Fund Interest.  All interest earned on a charitable trust fund shall be paid to the trust fund or to the beneficiary of the trust unless the beneficiary otherwise directs in writing.  No such interest shall be diverted to any other purpose.  

2  Effective Date.  This act shall take effect January 1, 2017.