Uniform Powers of Appointment Act; codification of Act. (SB127)
Introduced By
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Uniform Powers of Appointment Act. Codifies the Uniform Powers of Appointment Act, which governs the use of an estate planning tool that permits the owner of property to name a third party and give that person the power to direct the distribution of that property among some class of eligible recipients. The Act is based on the Restatement (Third) of Property: Wills and Other Donative Transfers and was adopted by the Uniform Law Commission in 2013. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
12/29/2015 | Prefiled and ordered printed; offered 01/13/16 16100155D |
12/29/2015 | Referred to Committee for Courts of Justice |
01/27/2016 | Reported from Courts of Justice (13-Y 0-N 2-A) (see vote tally) |
01/27/2016 | Reported from Courts of Justice (12-Y 0-N 2-A) (see vote tally) |
01/29/2016 | Constitutional reading dispensed (36-Y 0-N) (see vote tally) |
02/01/2016 | Read second time and engrossed |
02/02/2016 | Read third time and passed Senate (37-Y 1-N) (see vote tally) |
02/05/2016 | Placed on Calendar |
02/05/2016 | Read first time |
02/05/2016 | Referred to Committee for Courts of Justice |
02/16/2016 | Assigned App. sub: Civil Law |
02/16/2016 | Assigned Courts sub: Civil Law |
02/17/2016 | Subcommittee recommends reporting (10-Y 0-N) |
02/24/2016 | Reported from Courts of Justice (22-Y 0-N) (see vote tally) |
02/25/2016 | Read second time |
02/26/2016 | Read third time |
02/26/2016 | Passed House BLOCK VOTE (97-Y 0-N) |
02/26/2016 | VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally) |
02/29/2016 | Enrolled |
02/29/2016 | Bill text as passed Senate and House (SB127ER) |
02/29/2016 | Signed by Speaker |
03/03/2016 | Signed by President |
03/04/2016 | Enrolled Bill Communicated to Governor on 3/4/16 |
03/04/2016 | G Governor's Action Deadline Midnight, March 11, 2016 |
03/07/2016 | G Approved by Governor-Chapter 266 (effective 7/1/16) |
03/07/2016 | G Acts of Assembly Chapter text (CHAP0266) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 2 minutes.
Transcript
This is a transcript of the video clips in which this bill is discussed.
Del. Bill Howell (R-Fredericksburg): DO ANY SENATORS DESIRE TO CHANGE THEIR VOTE? THE CLERK WILL CLOSE THE ROLL.
[Unknown]: AYES 24, NOS 16. AYES 24, NOS 16. THE BILL PASSES. SENATE BILL 127, A BILL RELATING TO THE UNIFORM POWERS OF APPOINTMENT ACT. THE SENATOR FROM ROANOKE CITY, SENATOR EDWARDS.
Sen. John Edwards (D-Roanoke): MR. PRESIDENT, I MOVE THAT THE BILL PASS. AND --
[Unknown]: THE SENATOR HAS THE FLOOR.
Sen. John Edwards (D-Roanoke): BY WAY OF EXPLANATION, THE UNIFORM POWERS OF APPOINTMENT ACT WAS -- IS GIVEN TO US OR COMES FROM THE WILLS, TRUSTS AND ESTATES SECTION OF THE VIRGINIA BAR ASSOCIATION AND THE BOARD OF GOVERNORS OF THE VIRGINIA BAR ASSOCIATION. CURRENTLY THE LAW OF POWERS OF APPOINTMENT ARE SET FORTH IN THE CASE LAW, THE COMMON LAW OF VIRGINIA, AND TO APPLY THE POWERS OF APPOINTMENT CONCEPT AND LAW SOMETIMES IS -- CAN BE CONFUSING AND DIFFICULT. THE UNIFORM COMMISSION, COMMISSION ON UNIFORM LAWS HAS COME UP WITH A UNIFORM POWERS OF APPOINTMENT ACT THAT SEVERAL OTHER STATES HAVE NOW ADOPTED AND THE RECOMMENDATION IS FROM THE BAR THAT WE ADOPT THAT HERE IN VIRGINIA IN ORDINANCE TO MAKE IT EASIER -- ORDER TO MAKE IT EASIER TO FOLLOW AND EASY TO APPLY. I RENEW THE MOTION THAT THE BILL PASS.
Del. Bill Howell (R-Fredericksburg): THANK YOU, SENATOR. THE QUESTION IS SHALL SENATE BILL 127 ALL IN FAVOR OF THE MOTION WILL RECORD THEIR VOTES AYE, THOSE OPPOSED NO. ARE THE SENATORS READY TO VOTE? HAVE ALL THE SENATORS VOTED? DO ANY SENATORS DESIRE TO CHANGE THEIR VOTE? THE CLERK WILL CLOSE THE ROLL.
[Unknown]: AYES 37, NOS ONE. AYES 37, NOS ONE.