HB264 Alabama 2017 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2017
Title
Trusts, qualified trusts expanded to include certain benefits of qualified pension plans, stock bonus plans, and profit sharing plans, exclusion from federal bankruptcy laws, Sec. 19-3B-508 am'd.
Description
Currently, benefits provided pursuant to a qualified trust may not be assigned and are exempt from certain federal bankruptcy or insolvency laws
This bill would further define qualified trusts to include trusts formed as part of certain qualified pension plans, qualified stock bonus plans, and profit sharing plans
To amend Section 19-3B-508 of the Code of Alabama 1975, relating to qualified trusts under the federal tax code; to further define the term qualified trust; to provide for the treatment of benefits of such trusts for purposes of assignment or alienation of such accounts and the exclusion from federal bankruptcy and insolvency laws.
Subjects
Trusts
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 11, 2017 | H | Delivered to Governor at 10:13 a.m. on May 11, 2017. |
| May 11, 2017 | H | Assigned Act No. 2017-317 on 05/18/2017. |
| May 11, 2017 | H | Clerk of the House Certification |
| May 11, 2017 | S | Signature Requested |
| May 9, 2017 | H | Enrolled |
| May 9, 2017 | H | Passed Second House |
| May 9, 2017 | S | Motion to Read a Third Time and Pass adopted Roll Call 958 |
| May 9, 2017 | S | Third Reading Passed |
| April 27, 2017 | S | Read for the second time and placed on the calendar |
| April 25, 2017 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
| April 20, 2017 | H | Motion to Read a Third Time and Pass adopted Roll Call 561 |
| April 20, 2017 | H | Third Reading Passed |
| February 23, 2017 | H | Read for the second time and placed on the calendar |
| February 16, 2017 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 26, 2017 | ROOM 320 **BILL ADDED** at 11:30 | Senate B&I Hearing |
| Hearing | February 22, 2017 | Room 428 at 09:00 | House FS Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB264 Alabama 2017 Session - Introduced |