Endowment Care Cemetery Authority
| Type | Bill |
|---|---|
| Session | 2017 Regular Session |
| Subjects |
Concerning endowment care funds administered for cemetery authorities.
Bill Summary:
The bill authorizes the fiduciary of an endowment fund to distribute principal, such as capital gains, under a unitrust election. This facilitates investing in stocks.
The bill authorizes a cemetery authority to request that the fiduciary convert an endowment fund to a unitrust. The fiduciary and cemetery authority must agree on the terms of conversion, the distribution method, and the distribution rate. The distributions must be made on a monthly, quarterly, semi-annual, or annual basis, but the default is monthly. The unitrust must comply with certain current unitrust laws.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 02/07/2017 | PA1 |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 17-1096 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 5-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.001 (Attachment B). | The motion passed without objection. | Vote summary |
| Refer House Bill 17-1096, as amended, to the Committee of the Whole. | The motion passed on a vote of 12-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/08/2017 | Third Reading | BILL |
35
AYE
0
NO
0
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 02/10/2017 | Third Reading | BILL |
64
AYE
0
NO
1
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 03/20/2017 | Governor | Governor Signed |
| 03/16/2017 | Governor | Sent to the Governor |
| 03/16/2017 | Senate | Signed by the President of the Senate |
| 03/14/2017 | House | Signed by the Speaker of the House |
| 03/08/2017 | Senate | Senate Third Reading Passed - No Amendments |
| 03/07/2017 | Senate | Senate Second Reading Passed - No Amendments |
| 03/02/2017 | Senate | Senate Committee on Finance Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 02/15/2017 | Senate | Introduced In Senate - Assigned to Finance |
| 02/10/2017 | House | House Third Reading Passed - No Amendments |
| 02/09/2017 | House | House Second Reading Passed with Amendments - Committee |
| 02/06/2017 | House | House Committee on Finance Refer Amended to House Committee of the Whole |
| 01/19/2017 | House | Introduced In House - Assigned to Finance |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/09/2017 | 65 | Endowment Care Cemetery Authority |