Uniform Powers of Appointment Act; codification of Act. (SB127)

Introduced By

Sen. John Edwards (D-Roanoke)

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. Amends § 64.2-2700, § 64.2-407, § 64.2-408, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
12/29/2015Prefiled and ordered printed; offered 01/13/16 16100155D
12/29/2015Referred to Committee for Courts of Justice
01/27/2016Reported from Courts of Justice (13-Y 0-N 2-A) (see vote tally)
01/27/2016Reported from Courts of Justice (12-Y 0-N 2-A) (see vote tally)
01/29/2016Constitutional reading dispensed (36-Y 0-N) (see vote tally)
02/01/2016Read second time and engrossed
02/02/2016Read third time and passed Senate (37-Y 1-N) (see vote tally)
02/05/2016Placed on Calendar
02/05/2016Read first time
02/05/2016Referred to Committee for Courts of Justice
02/16/2016Assigned App. sub: Civil Law
02/16/2016Assigned Courts sub: Civil Law
02/17/2016Subcommittee recommends reporting (10-Y 0-N)
02/24/2016Reported from Courts of Justice (22-Y 0-N) (see vote tally)
02/25/2016Read second time
02/26/2016Read third time
02/26/2016Passed House BLOCK VOTE (97-Y 0-N)
02/26/2016VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/29/2016Enrolled
02/29/2016Bill text as passed Senate and House (SB127ER)
02/29/2016Signed by Speaker
03/03/2016Signed by President
03/04/2016Enrolled Bill Communicated to Governor on 3/4/16
03/04/2016G Governor's Action Deadline Midnight, March 11, 2016
03/07/2016G Approved by Governor-Chapter 266 (effective 7/1/16)
03/07/2016G 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.