Read a Third Time and Pass
Yes
103
Abstained
2
HB47 Alabama 2023 Session
Updated Apr 17, 2023
HB47 Alabama 2023 Session
House Bill
Expired
Current Status
Regular Session 2023
Session
1
Sponsor
Summary
- Primary Sponsor
-
Cynthia Lee AlmondRepublican - Session
- Regular Session 2023
- Title
- Relating to the Alabama Uniform Trust Code; to amend Section 19-3B-414, Code of Alabama 1975, to further provide for the modification or termination of an uneconomic trust.
- Description
Under existing law, the trustee of trust property may terminate a trust having a value of less than $50,000 if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
This bill would increase the minimum threshold dollar amount to $100,000 and would allow that amount to be increased or decreased in subsequent years based on changes to the Consumer Price Index.
- Subjects
- Alabama Uniform Trust Code; modification or termination of an uneconomic trust, further provided.
Bill Actions
S
Referred to Committee to Senate Banking and Insurance
H
Read First Time in Second House
H
Read a Third Time and Pass
H
On Third Reading in House of Origin
H
Read Second Time in House of Origin
H
Reported Out of Committee in House of Origin
H
Reported Favorably from House Financial Services
H
Introduced and Referred to House Financial Services
H
Read First Time in House of Origin
H
Prefiled
Bill Text
Votes
Documents
Source: Alabama Legislature