Virginia House Bill 370 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 11 2022 - 100% progression
Action: 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0354)
Text: Latest bill text (Chaptered) [HTML]

Uniform Fiduciary Income and Principal Act. Codifies the Uniform Fiduciary Income and Principal Act, which replaces the prior uniform act to reflect modern trust investment practices in the allocation of principal and income. The bill provides procedures for trustees administering estates and gives them additional flexibility to administer discretionary trusts to ensure that the intention of the creator of the trust is accomplished. The bill includes provisions for converting a traditional trust into a "unitrust" to allow for total-return investing.

Uniform Fiduciary Income and Principal Act; replaces prior Act.

Del. Richard Sullivan [D]

2022-02-21 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-18 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 2) [PASS]
2022-02-16 - Senate - Senate: Reported from Judiciary (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-03 - House - House: VOTE: Passage #2 (100-Y 0-N) (Y: 100 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-03 - House - House: VOTE: Block Vote Passage (99-Y 0-N) (Y: 99 N: 0 NV: 0 Abs: 1) [PASS]
2022-01-28 - House - House: Reported from Courts of Justice (18-Y 0-N) (Y: 18 N: 0 NV: 0 Abs: 2) [PASS]
2022-01-26 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2022-04-11		Governor: Acts of Assembly Chapter text (CHAP0354)
2022-04-11		Governor: Approved by Governor-Chapter 354 (effective 7/1/22)
2022-03-09		Governor: Governor's Action Deadline 11:59 p.m., April 11, 2022
2022-03-09	House	Enrolled Bill communicated to Governor on March 9, 2022
2022-02-23	Senate	Signed by President
2022-02-23	House	Signed by Speaker
2022-02-23	House	Bill text as passed House and Senate (HB370ER)
2022-02-23	House	Enrolled
2022-02-21	Senate	Passed Senate (40-Y 0-N)
2022-02-21	Senate	Read third time
2022-02-18	Senate	Constitutional reading dispensed (38-Y 0-N)
2022-02-16	Senate	Reported from Judiciary (14-Y 0-N)
2022-02-04	Senate	Referred to Committee on the Judiciary
2022-02-04	Senate	Constitutional reading dispensed
2022-02-03	House	VOTE: Passage #2 (100-Y 0-N)
2022-02-03	House	Passed House (100-Y 0-N)
2022-02-03	House	Reconsideration of passage agreed to by House
2022-02-03	House	VOTE: Block Vote Passage (99-Y 0-N)
2022-02-03	House	Read third time and passed House Block Vote (99-Y 0-N)
2022-02-02	House	Read second time and engrossed
2022-02-01	House	Read first time
2022-01-28	House	Reported from Courts of Justice (18-Y 0-N)
2022-01-26	House	Subcommittee recommends reporting (8-Y 0-N)
2022-01-25	House	Assigned Courts sub: Subcommittee #2
2022-01-11	House	Referred to Committee for Courts of Justice
2022-01-11	House	Prefiled and ordered printed; offered 01/12/22 22102105D

Chapter	Article	Section	Citation Type	Statute Text
64	2	1000	(n/a)	See Bill Text
64	2	1032	(n/a)	See Bill Text
64	2	1033	(n/a)	See Bill Text
64	2	1078	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+HB370
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+HB370+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+HB370ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+CHAP0354+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?221+oth+HB370F122+PDF
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?221+oth+HB370FER122+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+H0802V0008+HB0370
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+H08V0016+HB0370
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+HV0396+HB0370
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+HV0431+HB0370
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+S03V0190+HB0370
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+SV0523HB0370+HB0370
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+SV0526HB0370+HB0370