Senate File 340 - Enrolled

PAG LIN



  1  1                                             SENATE FILE 340
  1  2
  1  3                             AN ACT
  1  4 RELATING TO THE CONSIDERATION OF INHERITED OR GIFTED PROPERTY
  1  5    IN DISSOLUTION=OF=MARRIAGE PROPERTY DIVISION PROCEEDINGS AND
  1  6    INCLUDING AN EFFECTIVE DATE AND AN APPLICABILITY PROVISION.
  1  7
  1  8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1  9
  1 10    Section 1.  Section 598.21, subsection 5, unnumbered
  1 11 paragraph 1, Code 2007, is amended to read as follows:
  1 12    The court shall divide all property, except inherited
  1 13 property or gifts received or expected by one party, equitably
  1 14 between the parties after considering all of the following:
  1 15    Sec. 2.  Section 598.21, subsection 5, paragraph i, Code
  1 16 2007, is amended to read as follows:
  1 17    i.  Other economic circumstances of each party, including
  1 18 pension benefits, vested or unvested, and future interests.
  1 19 Future interests may be considered, but expectancies or
  1 20 interests arising from inherited or gifted property created
  1 21 under a will or other instrument under which the trustee,
  1 22 trustor, trust protector, or owner has the power to remove the
  1 23 party in question as a beneficiary, shall not be considered.
  1 24    Sec. 3.  EFFECTIVE DATE == APPLICABILITY.  This Act, being
  1 25 deemed of immediate importance, takes effect upon enactment
  1 26 and applies to all dissolutions granted on or after the
  1 27 effective date of this Act.
  1 28
  1 29
  1 30                                                             
  1 31                               JOHN P. KIBBIE
  1 32                               President of the Senate
  1 33
  1 34
  1 35                                                             
  2  1                               PATRICK J. MURPHY
  2  2                               Speaker of the House
  2  3
  2  4    I hereby certify that this bill originated in the Senate and
  2  5 is known as Senate File 340, Eighty=second General Assembly.
  2  6
  2  7
  2  8                                                             
  2  9                               MICHAEL E. MARSHALL
  2 10                               Secretary of the Senate
  2 11 Approved                , 2007
  2 12
  2 13
  2 14                                
  2 15 CHESTER J. CULVER
  2 16 Governor