Disabled individuals; taxation of trusts established therefor. (SB1175)

Introduced By

Sen. Dave Marsden (D-Burke)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Taxation of trusts established for disabled individuals.  Establishes an individual income tax deduction not to exceed $2,000 for the fair market value of contributions made during the taxable year to certain supplemental needs trusts established for disabled individuals. The bill also would exempt from taxation the income earned by such trusts. The bill would become effective for taxable years beginning on or after January 1, 2011. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2011Prefiled and ordered printed; offered 01/12/11 11103197D
01/12/2011Referred to Committee on Finance
01/22/2011Impact statement from TAX (SB1175)
01/25/2011Reported from Finance with amendments (11-Y 3-N) (see vote tally)
01/26/2011Constitutional reading dispensed (38-Y 0-N) (see vote tally)
01/27/2011Read second time
01/27/2011Reading of amendments waived
01/27/2011Committee amendments #1 and #3 agreed to
01/27/2011Committee amendment #2 rejected
01/27/2011Reading of amendment waived
01/27/2011Amendment by Senator Marsden agreed to
01/27/2011Engrossed by Senate as amended SB1175E
01/27/2011Printed as engrossed 11103197D-E
01/28/2011Passed by for the day
01/31/2011Read third time and passed Senate (36-Y 1-N) (see vote tally)
02/07/2011Placed on Calendar
02/07/2011Read first time
02/07/2011Referred to Committee on Finance
02/08/2011Assigned Finance sub: #1
02/08/2011Impact statement from TAX (SB1175E)
02/10/2011Subcommittee recommends reporting (11-Y 0-N)
02/10/2011Subcommittee recommends referring to Committee on Health, Welfare and Institutions
02/14/2011Referred from Finance
02/14/2011Referred to Committee on Health, Welfare and Institutions
02/15/2011Tabled in Health, Welfare and Institutions

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 2 minutes.

Duplicate Bills

The following bills are identical to this one: HB1880.