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