Grantor trusts; settlor's creditors; payment of taxes. (SB432)

Introduced By

Sen. Richard Stuart (R-Westmoreland)

Progress

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

Description

Grantor trusts; settlor's creditors; payment of taxes.  Prohibits creditors from compelling the trustee of a grantor trust to exercise his discretionary authority to pay income taxes on trust income. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/11/2012Prefiled and ordered printed; offered 01/11/12
01/11/2012Prefiled and ordered printed; offered 01/11/12 12101399D
01/11/2012Referred to Committee for Courts of Justice
01/18/2012Reported from Courts of Justice with amendment (15-Y 0-N) (see vote tally)
01/20/2012Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/23/2012Read second time
01/23/2012Reading of amendment waived
01/23/2012Committee amendment agreed to
01/23/2012Engrossed by Senate as amended SB432E
01/23/2012Printed as engrossed 12101399D-E
01/24/2012Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/13/2012Placed on Calendar
02/13/2012Read first time
02/13/2012Referred to Committee for Courts of Justice
02/16/2012Assigned Courts sub: #2 Civil
02/27/2012Subcommittee recommends reporting (9-Y 0-N)
02/27/2012Reported from Courts of Justice (18-Y 0-N) (see vote tally)
02/29/2012Read second time
03/01/2012Read third time
03/01/2012Passed House BLOCK VOTE (99-Y 0-N)
03/01/2012VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
03/06/2012Enrolled
03/06/2012Bill text as passed Senate and House (SB432ER)
03/06/2012Signed by Speaker
03/08/2012Signed by President
04/09/2012G Approved by Governor-Chapter 718 (effective 7/1/12)
04/09/2012G Acts of Assembly Chapter text (CHAP0718)

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 40 seconds.