Text: S03722 Text: S03724 Text: S03700 - S03799 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend the committee amendment, S-3686, to House 1 2 File 266, as passed by the House, as follows: 1 3 #1. Page 16, by inserting after line 11 the 1 4 following: 1 5 "Sec. ___. Section 633.699, subsection 7, Code 1 6 1997, is amended to read as follows: 1 7 7. To make any required division, allocation, or 1 8 distribution in whole or in part in money, securities, 1 9 or other property, and in undivided interests therein 1 10 pro rata, nonpro rata, or in combination of these 1 11 methods, and to continue to hold any remaining 1 12 undivided interest in trust. 1 13 Sec. ___. Section 633.703A, subsection 1, 1 14 unnumbered paragraph 1, Code 1997, is amended to read 1 15 as follows: 1 16 In order to allow a trust to qualify as a marital 1 17 deduction trust for federal estate tax purposes, as a 1 18 qualified subchapter S trust for federal income tax 1 19 purposes, as separate trusts for federal generation- 1 20 skipping tax purposes, or for any other federal or 1 21 state income, estate, excise, or inheritance tax 1 22 benefit or to facilitate the administration of a trust 1 23 or trusts, the governing instrument of a trust may be 1 24 amended as follows to permit the trust to be divided 1 25 in cash or in kind, including in undivided interests, 1 26 by pro rata or nonpro rata division, or in any 1 27 combination thereof, into one or more separate trusts 1 28 or be consolidated with one or more other trusts into 1 29 a single trust:" 1 30 #2. By renumbering as necessary. 1 31 1 32 1 33 1 34 DONALD B. REDFERN 1 35 HF 266.703 77 1 36 mg/sc/28
Text: S03722 Text: S03724 Text: S03700 - S03799 Text: S Index Bills and Amendments: General Index Bill History: General Index
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