House Journal: Page 1003: Tuesday, March 26, 2002
| Tyrrell | Van Engelenhoven | Van Fossen | Warnstadt |
|
Weidman | Wilderdyke | Winckler | Wise |
|
Witt | Carroll, |
|
| Presiding |
|
|
The nays were, none.
Absent or not voting, 6:
|
Hansen | Reynolds | Scherrman | Siegrist, Spkr. |
|
Sukup | Teig |
|
|
The bill having received a constitutional majority was declared to
have passed the House and the title was agreed to.
SENATE AMENDMENT CONSIDERED
Kreiman of Davis called up for consideration House File 2539, a
bill for an act relating to trusts and estates and their relationship to
medical assistance benefits, the right to disclaim on behalf of a ward,
the creation of total return unitrusts, and providing an effective date,
amended by the Senate, and moved that the House concur in the
following Senate amendment H-8431:
H-8431
1 Amend House File 2539, as passed by the House, as
2 follows:
3 1. Page 1, by striking lines 14 through 28.
4 2. Page 2, line 25, by inserting after the word
5 "disclaimant" the following: "and may disclaim on
6 behalf of the personal representative's decedent".
7 3. Page 9, by striking lines 9 through 23, and
8 inserting the following:
9 "2. Shall allocate an amount to trust income, not
10 in excess of the annual unitrust payout amount, in the
11 following order:
12 a. The amount derived from net income, as
13 determined if the trust were other than a total return
14 unitrust.
15 b. The amount derived from other ordinary income
16 as determined for federal income tax purposes.
17 c. The amount derived from net realized short-term
18 capital gains as determined for federal income tax
19 purposes.
20 d. The amount derived from net realized long-term
21 capital gains as determined for federal income tax
22 purposes.
23 e. The amount derived from trust principal."
© 2002 Cornell College and
League of Women Voters of Iowa
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