SB11 Alabama 2023 Session
Crossed Over
Bill Summary
Sponsors
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
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.
Subjects
Alabama Uniform Trust Code; modification or termination of an uneconomic trust, further provided.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 12, 2023 | H | Read Second Time in Second House |
| April 12, 2023 | H | Reported Out of Committee in Second House |
| April 12, 2023 | H | Reported Favorably from House Judiciary |
| April 6, 2023 | H | Referred to Committee to House Judiciary |
| April 6, 2023 | S | Read First Time in Second House |
| April 6, 2023 | S | Read a Third Time and Pass |
| April 6, 2023 | S | On Third Reading in House of Origin |
| April 5, 2023 | S | Read Second Time in House of Origin |
| April 5, 2023 | S | Reported Out of Committee in House of Origin |
| April 5, 2023 | S | Reported Favorably from Senate Judiciary |
| March 1, 2023 | H | Pending |
| February 14, 2023 | S | Introduced and Referred to Senate Judiciary |
| February 14, 2023 | H | Read First Time in House of Origin |
| February 13, 2023 | S | Prefiled |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 12, 2023 | Room 200 at 13:30 | House Judiciary Hearing |
| Hearing | April 5, 2023 | Room 325 at 08:30 | Senate Judiciary Hearing |
| Hearing | March 22, 2023 | Room 325 at 08:30 | Senate Judiciary Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB11 Alabama 2023 Session - Introduced |
| Fiscal Note | Fiscal Note - As Introduced |
| Fiscal Note | Fiscal Note - As Passed First Chamber Committee |