Illinois 93rd Regular Session Status: Passed Senate

SB 77 — TRUSTS & TRUSTEES-DISTRIBUTION

Last action — Session Sine Die

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

This bill died with 93rd Regular Session. It reached “Passed Senate” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Amends the Trusts and Trustees Act. Sets out notice requirements for converting a trust to a total return trust. Changes the amount of time that a trustee has to respond to a request for conversion from six months to 60 days. Lists items that the trustee or court may consider when deciding on a request to convert, reconvert, or determine a distribution percentage. Authorizes a court to order a trustee to pay an appropriate amount from the trustee's own funds to a trust or the beneficiaries if the court finds that the trustee did not act reasonably and in good faith. Amends the Principal and Income Act to provide for a trustee's power to adjust between principal and income.

Bill Text

Action History

  1. Session Sine Die

  2. Pursuant to Senate Rule 3-9(b) / Referred to Rules

  3. Third Reading Deadline Extended - Rule 2-10(e) to April 9, 2003.

  4. Placed on Calendar Order of 2nd Reading March 18, 2003

  5. Do Pass as Amended Judiciary; 010-000-000

  6. Senate Committee Amendment No. 1 Adopted

  7. Senate Committee Amendment No. 1 Rules Refers to Judiciary

  8. Senate Committee Amendment No. 1 Referred to Rules

  9. Senate Committee Amendment No. 1 Filed with Secretary by Sen. John J. Cullerton

  10. Postponed - Judiciary

  11. Postponed - Judiciary

  12. Assigned to Judiciary

  13. Referred to Rules

  14. First Reading

  15. Filed with Secretary by Sen. John J. Cullerton

Sponsors

  • John J. Cullerton · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • John J. Cullerton

Not signed on (182)

182 members have not signed on to this bill.

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"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

Subjects

finance
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Frequently asked questions

What does SB 77 do?
Amends the Trusts and Trustees Act. Sets out notice requirements for converting a trust to a total return trust. Changes the amount of time that a trustee has to respond to a request for conversion from six months to 60 days. Lists items that the trustee or court may consider when deciding on a request to convert, reconvert, or determine a distribution percentage. Authorizes a court to order a trustee to pay an appropriate amount from the trustee's own funds to a trust or the beneficiaries if the court finds that the trustee did not act reasonably and in good faith. Amends the Principal and Income Act to provide for a trustee's power to adjust between principal and income.
Who sponsors SB 77?
SB 77 is sponsored by John J. Cullerton.
What is the current status of SB 77?
This bill died with 93rd Regular Session. It reached “Passed Senate” 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 SB 77?
Track SB 77 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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