Relating to the Alabama Uniform Trust Code; to amend Section 19-3B-414, Code of Alabama 1975, to further pr...
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HB 47 — Relating to the Alabama Uniform Trust Code; to amend Section 19-3B-414, Code of Alabama 1975, to further provide for the modification or termination of an uneconomic trust.
Last action — Read First Time in Second House
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed House
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4Passed Senate
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5To Executive
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6Enacted
This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Alabama Uniform Trust Code; modification or termination of an uneconomic trust, further provided.
Bill Text
- Introduced View text Current pdf
AI-generated reading aid from the bill's amendatory text — verify against the official bill.
This bill increases the minimum threshold for a trustee to terminate a trust from $50,000 to $100,000 and allows for adjustments based on the Consumer Price Index.
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Section 19-3B-414
having a total value less than $50,000→ having a total value less than one hundred thousand dollars ($100,000)The minimum value for a trust to be terminated by a trustee is raised from $50,000 to $100,000.
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Section 19-3B-414
The dollar amount provided in subsection (a)→ The dollar amount provided in subsection (a) shall apply to any trust consisting of trust property during the 2023 calendar year.Establishes the starting point for the new dollar amount threshold in the 2023 calendar year.
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Section 19-3B-414
the dollar amount described in subsection (a) shall be increased or decreased if the Consumer Price Index (C.P.I.) for the calendar year immediately preceding the year of value determination exceeds or is less than the reference base index.→ Beginning January 1, 2024, the dollar amount described in subsection (a) shall be increased or decreased if the Consumer Price Index (C.P.I.) for the calendar year immediately preceding the year of value determination exceeds or is less than the reference base index.Allows the minimum threshold to be adjusted annually based on the Consumer Price Index starting in 2024.
Action History
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Referred to Committee
Sponsors
- Cynthia Almond · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 139 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (139)
139 members have not signed on to this bill.
Show all 139 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 5 | 0 | 0 | 0 |
| R | 70 | 0 | 0 | 1 |
| D | 25 | 0 | 0 | 1 |
| Total | 100 | 0 | 0 | 2 |
| % of votes cast | 98% | 0% | 0% | 2% |
How each member voted (102)
Subjects
Frequently asked questions
- What does HB 47 do?
- Alabama Uniform Trust Code; modification or termination of an uneconomic trust, further provided.
- Who sponsors HB 47?
- HB 47 is sponsored by Cynthia Almond.
- What is the current status of HB 47?
- This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HB 47?
- Track HB 47 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 3 months ago · updated continuously
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