NY A07132 | 2009-2010 | General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Engrossed on May 26 2009 - 50% progression, died in chamber
Action: 2010-03-04 - substituted by s3528a

Summary

This bill is proposed to revise certain provisions of Section 2-1.11 of the Estates, Powers and Trusts Law pertaining to the renunciation of property interests to make New York practice in this area more consistent with federal tax law. This bill is a revised version of a bill provided by the Trusts & Estates Law Section of the New York State Bar Association. The previous version was vetoed due to the inclusion of provisions allowing trustees to divert the receipt of funds from individuals receiving benefits from means tested programs such as Medicaid (See Veto Memo. 155 of 2008). Such provisions have been removed from this bill.

Tracking Information

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Title

Establishes certain renunciations shall not necessarily constitute a qualified disclaimer for the purposes of the estate tax or the gift tax; allows a beneficiary of a disposition to renounce certain portions of his or her portion of an interest in joint property or tenancy by the entirety; allows a renouncing party to file a copy of a renunciation and affidavit in the office of the clerk of the court having jurisdiction; relates to who may make a renunciation.

Sponsors


History

DateChamberAction
2010-03-04 substituted by s3528a
2010-01-06 ordered to third reading cal.475
2010-01-06 RETURNED TO ASSEMBLY
2010-01-06 DIED IN SENATE
2009-06-11 COMMITTED TO RULES
2009-06-10 returned to senate
2009-06-10 repassed assembly
2009-06-01 amended on third reading 7132a
2009-06-01 vote reconsidered - restored to third reading
2009-06-01 RETURNED TO ASSEMBLY
2009-06-01 RECOMMITTED TO JUDICIARY
2009-06-01 SUBSTITUTION RECONSIDERED
2009-06-01 recalled from senate
2009-05-27 3RD READING CAL.357
2009-05-27 SUBSTITUTED FOR S3528
2009-05-26 REFERRED TO JUDICIARY
2009-05-26 delivered to senate
2009-05-26 passed assembly
2009-05-21 advanced to third reading cal.626
2009-05-19 reported
2009-03-23 referred to judiciary

Same As/Similar To

S03528 (Same As) 2009-05-27 - SUBSTITUTED BY A7132

New York State Sources


Bill Comments

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