California 2015-2016 Regular Session Status: Enacted

AB 2846 — Powers of appointment.

Last action — Chaptered by Secretary of State - Chapter 81, Statutes of 2016.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 19, 2016. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 4 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Existing law provides a statutory body of law relating to powers of appointment, including the creation and exercise of, and the revocability of the creation, exercise, or release of, a power of appointment. Existing law provides that a power of appointment can be created only by a donor having the capacity to transfer the interest in property to which the power relates. Existing law for these purposes defines a person to whom a power of appointment is given or in whose favor a power of appointment is reserved as a "donee." This bill would revise and recast those provisions. The bill would impose additional requirements on the creation of a power of appointment, including the existence of a legally valid creating instrument that manifests the donor's intent to create a power of appointment and that transfers the appointive property, except as specified. The bill would define the term "power of appointment" for those purposes. The bill would instead define a person to whom a power of appointment is given or in whose favor a power of appointment is reserved as a "powerholder." The bill would require, if a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property to be allocated in the permissible manner in accordance with the terms of the creating instrument and to carry out the intent of the powerholder. The bill would require, if a powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment to share fully in unappointed property. The bill would make property subject to a special power of appointment subject to the claims of creditors of the powerholder or of the powerholder's estate or the expenses of administration of the powerholder's estate under specified circumstances. The bill would make conforming changes to related provisions, and would make changes to provisions related to an unexercised general power of appointment, as specified.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 81, Statutes of 2016.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4:30 p.m.

  4. In Assembly. Ordered to Engrossing and Enrolling.

  5. Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 4648.).

  6. Read second time. Ordered to Consent Calendar.

  7. From committee: Do pass. To Consent Calendar. (Ayes 7. Noes 0.) (June 21).

  8. Referred to Com. on JUD.

  9. In Senate. Read first time. To Com. on RLS. for assignment.

  10. Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 4792.)

  11. Read second time. Ordered to Consent Calendar.

  12. Read second time and amended. Ordered returned to second reading.

  13. From committee: Amend, and do pass as amended. To Consent Calendar. (Ayes 10. Noes 0.) (May 3).

  14. In committee: Hearing postponed by committee.

  15. In committee: Hearing postponed by committee.

  16. Referred to Com. on JUD.

  17. Read first time.

  18. From printer. May be heard in committee March 22.

  19. Introduced. To print.

Sponsors

  • Maienschein · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Maienschein

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Consent Calendar 2nd

Passed 37 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 34003
Democratic 3000
Total 37003
% of votes cast 93%0%0%8%
How each member voted (40)
Member Party Vote
Anderson — Yea
Bates — Yea
Block — Yea
Hernandez — Yea
Hueso — Yea
Lara — Yea
Liu — Yea
Nielsen — Yea
Roth — Yea
Wieckowski — Yea
Cannella — Yea
Fuller — Yea
Galgiani — Yea
Glazer — Yea
Hill — Yea
Allen — Yea
Mitchell — Yea
De León — Yea
Leno — Yea
Pan — Yea
Runner — Not Voting
Hancock — Yea
Beall — Yea
Hertzberg — Yea
Huff — Yea
Leyva — Yea
Mendoza — Not Voting
Monning — Yea
Moorlach — Yea
Morrell — Yea
Pavley — Yea
Vidak — Yea
Wolk — Not Voting
Hall — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

AB 2846 MAIENSCHEIN Consent Calendar Second Day

Passed 78 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 68002
Democratic 5000
Republican 5000
Total 78002
% of votes cast 98%0%0%3%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Baker — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Harper — Yea
Holden — Yea
Jones-Sawyer — Not Voting
Maienschein — Yea
Mathis — Yea
Medina — Yea
Nazarian — Yea
Olsen — Yea
Ridley-Thomas — Yea
Santiago — Yea
Thurmond — Yea
Waldron — Yea
Williams — Yea
Eggman — Yea
Cooper — Yea
Daly — Yea
Frazier — Yea
Chang — Yea
Salas — Yea
Gatto — Yea
Gomez — Yea
Chau — Yea
Gordon — Yea
Chiu — Yea
Kim — Yea
Levine — Yea
Gray — Yea
Linder — Yea
Low — Yea
Atkins — Yea
Chu — Yea
Alejo — Yea
Bigelow — Yea
Chávez — Yea
Cooley — Yea
Dababneh — Yea
Dodd — Yea
Mayes — Yea
McCarty — Yea
Melendez — Yea
O'Donnell — Yea
Obernolte — Yea
Rendon — Yea
Rodriguez — Yea
Steinorth — Yea
Wagner — Yea
Weber — Yea
Wilk — Yea
Bonilla — Yea
Lopez — Yea
Burke — Not Voting
Hadley — Yea
Campos — Yea
Mullin — Yea
Quirk — Yea
Ting — Yea
Wood — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Arambula, Joaquin Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2846 do?
Existing law provides a statutory body of law relating to powers of appointment, including the creation and exercise of, and the revocability of the creation, exercise, or release of, a power of appointment. Existing law provides that a power of appointment can be created only by a donor having the capacity to transfer the interest in property to which the power relates. Existing law for these purposes defines a person to whom a power of appointment is given or in whose favor a power of appointment is reserved as a "donee." This bill would revise and recast those provisions. The bill would impose additional requirements on the creation of a power of appointment, including the existence of a legally valid creating instrument that manifests the donor's intent to create a power of appointment and that transfers the appointive property, except as specified. The bill would define the term "power of appointment" for those purposes. The bill would instead define a person to whom a power of appointment is given or in whose favor a power of appointment is reserved as a "powerholder." The bill would require, if a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property to be allocated in the permissible manner in accordance with the terms of the creating instrument and to carry out the intent of the powerholder. The bill would require, if a powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment to share fully in unappointed property. The bill would make property subject to a special power of appointment subject to the claims of creditors of the powerholder or of the powerholder's estate or the expenses of administration of the powerholder's estate under specified circumstances. The bill would make conforming changes to related provisions, and would make changes to provisions related to an unexercised general power of appointment, as specified.
Who sponsors AB 2846?
AB 2846 is sponsored by Maienschein.
What is the current status of AB 2846?
This bill has been enacted into law. Introduced February 19, 2016. Enacted.
Where can I track AB 2846?
Track AB 2846 free on One Click Politics — get push/email alerts when it moves.

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