HB 968 — Modifies the Principal and Income Act to resemble the latest version of the Uniform Fiduciary Income and Principal Act

Bill Text

Compared against the Missouri Revised Statutes as published AI-generated reading aid — verify against the official bill.

This bill amends 35 section(s) of the Missouri Revised Statutes: Section 214.330, RSMo; Section 469.399, RSMo; Section 469.401, RSMo; Section 469.487, RSMo; Section 469.405, RSMo; Section 469.402, RSMo.

• Section 214.330, RSMo

  provisions of section 469.405 shall not apply election is in effect with respect to such trust under the provisions of section 469.411 election made in accordance with the provisions of chapter 469 shall be made by the cemetery operator in the terms of the endowed care trust fund agreement itself, not by the trustee trust fund → bold-face trustee shall have: (a) No power of adjustment under section 469.405; (b) No power of conversion either from an income trust to a unitrust or from a unitrust to an income trust under section 469.475; (No power or discretion to determine or modify the unitrust rate, as established in the terms of the endowed care trust agreement; and (d) No discretion to determine applicable value for purposes of computing the unitrust amount beyond that granted by law and exercised solely for reasons of administrative convenience and not to affect the size of distributions In determining applicable value under section 469.473, values over a three-year period if available, or the duration of the trust if shorter, shall be used. amount is required by the terms of the endowed care trust fund agreement under subdivision (6) of this subsection definition of income under sections 469.471 to 469.487 shall be established by the cemetery operator in the terms of the endowed care trust fund agreement itself, not by the trustee, and shall not provide for a unitrust rate exceeding five percent per annum. The unitrust rate shall be changed only by amendment to the agreement as provided in this section by record trust's fiscal The cemetery operator may instruct by record the trustee to distribute less than all the income distributable for the year if the cemetery operator determines that the money is not needed.

  amended

• Section 469.399, RSMo

  "Missouri Uniform Fiduciary Income and Principal Act".

  amended

• Section 469.401, RSMo

  469.401 469.467 another twelve-month period is selected by portion other twelve-month that , of a decedent's estate, and an income beneficiary and a remainder beneficiary of a trust, including any type of entity that has a beneficial interest in either an estate or a trust , trustee, executor, administrator, successor personal representative, special administrator and any other person performing substantially the same function (4) that a asset, including a portion as 469.449 (5) "Income beneficiary", a person to whom net income of a trust is or may be payable; (6) an it it trustee's an (8) if section 469.411 applies to the trust, the unitrust amount, or if section 469.411 does not apply to the trust, receipts allocated to income made from income during the same period, plus or minus transfers pursuant to sections 469.401 to 469.467 to or from income during the same period → 469.399 469.487 selects another period of twelve calendar months or approximately twelve calendar months part another of twelve calendar months or approximately twelve calendar months that "Asset-backed security", a security that is serviced primarily by the cash flows of a discrete pool of fixed or revolving receivables or other financial assets that by their terms convert into cash within a finite time. The term includes rights or other assets that ensure the servicing or timely distribution of proceeds to the holder of the asset-backed security. The term does not include an asset to which section 469.423, 469.437, or 469.447 applies; (3) includes: (a) For a trust: aA current beneficiary, including a current income beneficiary and a beneficiary that may receive only principal; b. A remainder beneficiary; and c. Any other successor beneficiary; (b) For an estate, , and (c) For a life estate or term interest, a person that holds a life estate, term interest, or remainder or other interest following a life estate or term interest; (4) "Court", any court in this state having jurisdiction relating to a trust, estate, life estate, or other term interest described in subdivision (2) of subsection 1 of section 469.402; ("Current income beneficiary", a beneficiary to which a fiduciary may distribute net income, whether or not the fiduciary also may distribute principal to the beneficiary; (6) "Distribution", a payment or transfer by a fiduciary to a beneficiary in the beneficiary’s capacity as a beneficiary, made under the terms of the trust, without consideration other than the beneficiary’s right to receive the payment or transfer under the terms of the trust. "Distribute", "distributed", and "distributee" have corresponding meanings; (7) "Estate", a decedent’s estate. The term includes the property of the decedent as the estate is originally constituted and the property of the estate as it exists at any time during administration; includes trustee, trust protector determined under section 456.8-808, life tenant, holder of a term interest, and person acting under a delegation from a fiduciary. The term includes a person that holds property for a successor beneficiary whose interest may be affected by an allocation of receipts and expenditures between income and principal. If there are two or more co-fiduciaries, the term includes all co-fiduciaries acting under the terms of the trust and applicable law (9) other . The term includes a part , to the extent 469.450 (10) a current the net income the net income fiduciary's . The term includes the right of a current beneficiary to use property held by a fiduciary (11) "Independent person", a person that is not: (a) For a trust: a. A qualified beneficiary as defined under section 456.1-103; b. A settlor of the trust; or c. An individual whose legal obligation to support a beneficiary may be satisfied by a distribution from the trust; (b) For an estate, a beneficiary; (c) A spouse, parent, brother, sister, or issue of an individual described in paragraph (a) or (b) of this subdivision; (d) A corporation, partnership, limited liability company, or other entity in which persons described in paragraphs (a) to (c) of this subdivision, in the aggregate, have voting control; or (e) An employee of a person described in paragraph (a), (b), (c), or (d) of this subdivision; a current (13) allocations to income under the terms of a trust and sections 469.399 to 469.487 during the period, other than distributions, allocated to income under the terms

  amended

• Section 469.487, RSMo

  sections 469.471 to 469.487, "net income" means the unitrust amount determined thereunder. "Net income" includes an adjustment from principal to income under

  amended

• Section 469.405, RSMo

  corporation, business trust, partnership, limited liability company, association, joint venture , public corporation any or commercial a remainder when the trust terminates (11) "Qualified beneficiary", a beneficiary defined in section 456.1-103; (12) "Remainder beneficiary", a person entitled to receive principal when an income interest ends; (13) or decedent's a manner which is as proof , whether by written or spoken words or by conduct (14) (15) "Unitrust amount", net income as defined by section 469.411 → under section 469.405 business or nonprofit entity, public corporation or (15) "Personal representative", an executor, administrator, successor personal representative, special administrator, or person that performs substantially the same function with respect to an estate under the law governing the person’s status; , production of income for, or use by a current or successor (17) "Record", information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; (1"Settlor", a person, including a testator, that creates or contributes property to a trust. If more than one person creates or contributes property to a trust, the term includes each person, to the extent of the trust property attributable to that person’s contribution, except to the extent another person has the power to revoke or withdraw that portion; (19) "Special tax benefit": (a) Exclusion of a transfer to a trust from gifts described in 26 U.S.C. Section 2503(b), as amended, because of the qualification of an income interest in the trust as a present interest in property; (b) Status as a qualified subchapter S trust described in 26 U.S.C. Section 1361 (d)(3), as amended, at a time the trust holds stock of an S corporation described in 26 U.S.C. Section 1361(a)(1), as amended; (c) An estate or gift tax marital deduction for a transfer to a trust under 26 U.S.C. Section 2056 or 2523, as amended, which depends or depended in whole or in part on the right of the settlor’s spouse to receive the net income of the trust; (d) Exemption in whole or in part of a trust from the federal generation-skipping transfer tax imposed by 26 U.S.C. Section 2601, as amended, because the trust was irrevocable on September 25, 1985, if there is any possibility that: a. A taxable distribution, as defined in 26 U.S.C. Section 2612(b), as amended, could be made from the trust; or b. A taxable termination, as defined in 26 U.S.C. Section 2612(a), as amended, could occur with respect to the trust; or (e) An inclusion ratio, as defined in 26 U.S.C. Section 2642(a), as amended, of the trust which is less than one, if there is any possibility that: a. A taxable distribution, as defined in 26 U.S.C. Section 2612(b), as amended, could be made from the trust; or b. A taxable termination, as defined in 26 U.S.C. Section 2612(a), as amended, could occur with respect to the trust; (20) "Successive interest", the interest of a successor beneficiary; (21) "Successor beneficiary", a person entitled to receive income or principal or to use property when an income interest or other current interest ends; (22) : Except as otherwise provided in paragraph (b) of this subdivision regarding a trust's provisions as: a. the trust instrument; or b. Established by other evidence that would be ; (b) The trust’s provisions as established, determined, or amended by: a. A trustee or trust director in accordance with applicable law; b. Court order; or c. A nonjudicial settlement agreement under section 456.1-111; (c) For an estate, a will; or (d) For a life estate or term interest, the corresponding manifestation of the rights of the beneficiaries; (23) "Trust": (a) Includes: a. An express trust, private or charitable, with additions to the trust, wherever and however created; and b. A trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust; and (b) Does not include: a. A constructive trust; A resulting trust, conservatorship, guardianship, multi-party account, custodial arrangement for a minor, business trust, voting trust, security arrangement, liquidation trust, or trust for the primary purpose of paying debts, dividends, interest, salaries, wages, profits, pensions, retirement benefits, or employee benefits of any kind; or c. An arrangement under which a person is a nominee, escrowee, or agent for another (24) a person, other than a personal representative, that owns or ho

  amended

• Section 469.402, RSMo

  The provisions of sections 456.3-301 to 456.3-305 shall apply to sections 469.401 to 469.467 for all purposes. → 1. Except as otherwise provided in the terms of a trust or sections 469.399 to 469.487, sections 469.399 to 469.487 apply to: (1) A trust or estate; and (2) A life estate or other term interest in which the interest of one or more persons will be succeeded by the interest of one or more other persons. 2. Except as otherwise provided in the terms of a trust or sections 469.399 to 469.487, sections 469.399 to 469.487 apply when this state is the principal place of administration of a trust or estate or the situs of property that is not held in a trust or estate and is subject to a life estate or other term interest described in subdivision (2) of subsection 1 of this section. By accepting the trusteeship of a trust having its principal place of administration in this state or by moving the principal place of administration of a trust to this state, the trustee submits to the application of sections 469.399 to 469.487 to any matter within the scope of sections 469.399 to 469.487 involving the trust.

  amended

• Section 469.403, RSMo

  In allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of Shall under the will 469.401 469.467 (2) May a by exercising or the will, even if the 469.401 469.467; (3) Shall administer a trust or estate pursuant sections 469.401 to 469.467 if or the will do not contain a different provision or do not give fiduciary a discretionary power of administration (4) Shall add a receipt or → In making an allocation or determination or exercising discretion under shall Act in good faith, based on what is fair and reasonable to all beneficiaries; (2) impartially, except to the extent manifest an intent that the fiduciary shall may favor one or more beneficiaries; (3) Administer the trust or estate in accordance with the terms of the trust 469.399 469.487 and (4) the in accordance with sections 469.399 to 469.487, except to the extent the terms of the trust provide otherwise or authorize the fiduciary to determine otherwise. A fiduciary's allocation, determination, or exercise of discretion under sections 469.399 to 409.487 is presumed to be fair and reasonable to all beneficiaries. A fiduciary may exercise , and an that 469.399 469.487 does not create an inference that the fiduciary abused the fiduciary's discretion. 3. A fiduciary shall: (1) Add a receipt principal, to the extent neither nor sections 469.399 to 469.487 allocate receipt between income and principal (2) , neither the terms of the trust nor sections 469.399 to 469.487 allocate the disbursement between income and principal 4. A fiduciary may exercise the power to adjust under section 469.405, convert an income trust to a unitrust under subdivision (1) of subsection 1 of section 469.475, change the percentage or method used to calculate a unitrust amount under subdivision (2) of subsection 1 of section 469.475, or convert a unitrust to an income trust under subdivision (3) of subsection 1 of section 469.475, if the fiduciary determines the exercise of the power will assist the fiduciary to administer the trust or estate impartially. Factors the fiduciary shall consider in making the determination under subsection 4 of this section include: (1) The terms of the trust; (2) The nature, distribution standards, and expected duration of the trust; (3) The effect of the allocation rules, including specific adjustments between income and principal, under sections 407.413 to 407.461; (4) The desirability of liquidity and regularity of income; (5) The desirability of the preservation and appreciation of principal; (6) The extent to which an asset is used or may be used by a beneficiary; (The increase or decrease in the value of principal assets, reasonably determined by the fiduciary; (8) Whether and to what extent the terms of the trust give the fiduciary power to accumulate income or invade principal or prohibit the fiduciary from accumulating income or invading principal; (The extent to which the fiduciary has accumulated income or invaded principal in preceding accounting periods; (10) The effect of current and reasonably expected economic conditions; and

  amended

• Section 469.404, RSMo

  (1A fiduciary’s allocation between income and principal or other determination regarding income and principal required or authorized by the terms of the trust or sections 469.399 to 469.487; (2) The fiduciary’s exercise or nonexercise of a discretionary power regarding income and principal granted by the terms of the trust or sections 469.399 to 469.487, including the power to adjust under section 469.405, convert an income trust to a unitrust under subdivision (1) of subsection 1 of section 469.475, change the percentage or method used to calculate a unitrust amount under subdivision (2) of subsection 1 of section 469.475, or convert a unitrust to an income trust under subdivision (3) of subsection 1 section 469.475; or (3) The fiduciary’s implementation of a decision described in subdivision (1) or (2) of this subsection. 2. The court shall not order a fiduciary to change a fiduciary decision unless the court determines that the fiduciary decision was an abuse of the fiduciary’s discretion. If the court determines that a fiduciary decision was an abuse of the fiduciary’s discretion, the court may order a remedy authorized by law, including under section 456.10-1001. To place the beneficiaries in the positions the beneficiaries would have occupied if there had not been an abuse of the fiduciary’s discretion, the court may order: (1) The fiduciary to exercise or refrain from exercising the power to adjust under section 469.405; (2) The fiduciary to exercise or refrain from exercising the power to convert an income trust to a unitrust under subdivision (1) of subsection 1 of section 469.475, change the percentage or method used to calculate a unitrust amount under subdivision (2) of subsection 1 of section 469.475, or convert a unitrust to an income trust under subdivision (3) of subsection 1 of section 469.475; (3) The fiduciary to distribute an amount to a beneficiary; (4) A beneficiary to return some or all of a distribution; or (5) The fiduciary to withhold an amount from one or more future distributions to a beneficiary. 4. On petition by a fiduciary for instruction, the court may determine whether a proposed fiduciary decision will result in an abuse of the fiduciary’s discretion. If the petition describes the proposed decision, contains sufficient information to inform the beneficiary of the reasons for making the proposed decision and the facts on which the fiduciary relies, and explains how the beneficiary will be affected by the proposed decision, a beneficiary that opposes the proposed decision has the burden to establish that it will result in an abuse of the fiduciary’s discretion.

  amended

• Section 469.405, RSMo

  A trustee may adjust between principal and income to the extent the trustee considers necessary if the trustee invests and manages trust assets as a prudent investor, the terms of the trust describe the amount that may or shall be distributed to a beneficiary by referring to the trust's income, and the trustee determines, after applying subsection 1 of section 469.403, that the trustee is unable to comply with subsection 2 of section 469.403. 2. conferred by of this section, a trustee to the trust and its beneficiaries the following to the extent relevant: trustee may That diminishes the income interest in a trust which requires all of the income to be paid at least annually to a spouse and for which an estate tax or gift tax marital deduction would be allowed, in whole or in part, if the trustee did not have the power to make the adjustment; (2) That reduces the actuarial value of the income interest in a trust to which a person transfers property with the intent to qualify for a gift tax exclusion; (3) That changes beneficiary (4) From any purposes a will or a to the extent that the existence of the power to adjust would change the character of HCS HB 968 15 the amount federal income, gift or estate tax purposes (5) If to make an adjustment causes an individual income tax purposes, and the individual would not be treated as the owner if the trustee did not possess the power to make an adjustment (6) If to make an adjustment causes for estate tax purposes who has to remove or appoint a trustee, or both, the assets would not be included in the estate of the individual if the trustee did not possess to make an adjustment (7) If the trustee is a beneficiary of the trust; or (8) If the trustee is not a beneficiary, but the adjustment would benefit the trustee directly or indirectly 4. subdivision (5), (6), (7) or (8) of 3 trustee and there is more than one trustee, a cotrustee to whom the provision does make adjustment trustee or trustees 5. trustee the entire power conferred by subsection 1 of this section, or may release only the power to adjust from income to principal or the power to adjust from principal to income if the trustee is uncertain about whether possessing or exercising the power will 3 , if the trustee determines that possessing or exercising the power will or may 3 may be or for 6. of a trustee make an adjustment and income it is clear from that the terms are intended to the trustee of adjustment conferred by → Except as otherwise provided in the terms of a trust or this section, a fiduciary, in a record, without court approval, may adjust between income and principal if the fiduciary determines the exercise of the power to adjust will assist the fiduciary to administer the trust or estate impartially. 2. This section does not create a duty to exercise or consider the power to adjust under subsection 1 of this section or to inform a beneficiary about the applicability of this section. 3. A fiduciary that in good faith exercises or fails to exercise the power to adjust under subsection 1 of this section is not liable to a person affected by the exercise or failure to exercise. 4. to adjust under , a fiduciary the fiduciary considers relevant in subsection 5 of section 469.403 and the application of sections 469.423, 469.435, and 469.445. 5. fiduciary shall exercise the power under subsection 1 of this section to or under section 469.435 to make a determination that an allocation is insubstantial if The adjustment or determination would reduce current income beneficiary from a trust that qualifies for a special tax benefit, except to the extent the adjustment is made to provide for a reasonable apportionment of the total return of the trust between the current income beneficiary and successor beneficiaries; (2) The adjustment or determination would change the amount payable to a beneficiary, , under the terms of the trust (3) The adjustment or determination would reduce an a purpose the , unless both income and principal are the charitable purpose (4) would cause a person federal income tax purposes (5) would cause value of the gross for federal estate tax purposes; (6) Possessing or exercising would cause an individual to be treated as making a gift for federal gift tax purposes; (7) The fiduciary is not an independent person; (8) The trust is irrevocable provides for income to be paid to the settlor and possessing or exercising would cause the adjusted principal or income to be considered an available resource or available income under a public-benefit program or (9) The trust is a unitrust under sections 469.471 to 469.487 6. 5 fiduciary: (1) A co-fiduciary to which subdivisions (4) to (7) of subsection 5 of this section do exercise power to adjust co-fiduciary or co-fiduciaries or law other than sections 469.399 to 469.487; and (2) If there is no co-fiduciary to which subdivisions (4) to (7) of subsection 5 of this section do not apply, the fiduciary may appoint a co-fiduciary to which subdivisions (4) to (7) of subsection 5 of this section do not apply, which may be a special fiduciary with limited powers, and the appointed co-fiduciary may exercise the power to adjust under subsection 1 of this section, unless the appointment of a co-fiduciary or the exercise of the power by a co-fiduciary is not permitted by the terms of the trust or law other than under sections 469.399 to 469.487 7. fiduciary or delegate to a co-fiduciary the power to adjust under subsection 1 of this section if the fiduciary determines that the fiduciary's possession or exercise of the power will or may: (1) 5 ; (2) subdivisions (1) to (6) of 5 8. A fiduciary's release or delegation to a co-fiduciary under subsection 7 of this section of the power to adjust under subsection 1 of this section: (1) Shall be in a record; (Applies to the entire power, unless or delegation provides a limitation, which may be a limitation to the power to adjust: (a) From income to principal; (b) From principal to income; (c) For specified property; or (d) In specified circumstances; (3) For a delegation, may be modified by a re-delegation under this subsection by the co-fiduciary to which the delegation is made; and (4) Subject to subdivision (3) of this subsection, is unless the release or delegation provides or the lives of more than one individual 9. deny or adjust income and expressly or limit to adjust under 10. The exercise of the power to adjust under subsection 1 of this se

  amended

• Section 469.413, RSMo

  After a decedent dies, in the case , or after ends, the following rules apply: (1) of a terminating pursuant to the rules in sections 469.417 to 469.461 which apply to trustees and the rules in subdivision (5) of this section who ; (2) remaining a decedent's a terminating pursuant to the rules in 469.461 which apply to trustees (a) (b) death those an that those and all a decedent's a terminating , and death taxes terminating by the will, the terms of the trust, or applicable law; (3) A fiduciary shall distribute to a beneficiary who receives a pecuniary amount outright the interest or any other amount provided by the will, the terms of the trust, or in the absence of any such provisions, the provisions of section 473.633, from net income determined pursuant to subdivision (2) of this section or from principal to the extent that net income is insufficient. other amount distribute other amount ; (4) the distributions subdivision (3) who ; (5) may subdivision (1) that that are all of with respect to those amounts a decedent's by amounts that the fiduciary believes terminating → 1. This section applies when: (1) The death of an individual results in the creation or trust; or (2) terminates, whether the trust continues or is distributed. 2. trust with an that terminates , under subsection 7 of this section and sections 469.417 to 469.462, that . 3. income and an in a trust that terminates, other than the amount of net income determined under subsection 2 of this section, under 469.462 (1) or sold (2) , estate and inheritance and other taxes imposed because of the decedent's death the a federal : (a) the or (b) The fiduciary makes an adjustment under subsection 2 of section 469.462; and the an that terminates, : (a) To the extent authorized by the decedent's will, the terms of the trust, or applicable law, estate and inheritance taxes, and other taxes imposed because of the decedent's death; (b) , by the decedent's will, the terms of the trust, or applicable law, that terminates. 4. If a decedent's will, the terms of a trust, or applicable law provides for the payment of interest or the equivalent of interest to a beneficiary that receives a pecuniary amount outright, the fiduciary shall make the payment from net income determined under subsection 3 of this section or from principal to the extent net income is insufficient. 5. because of an income beneficiary's death, payment of the equivalent of interest pay the equivalent of interest . 6. payments subsections 4 and 5 that . 7. shall subsection 2 decedent's shall be regarding the amount , the decedent's an amount

  amended

• Section 469.415, RSMo

  Each (4) portion whom one who has date of or earlier date but has not distributed as of the current distribution date portion , including assets that later may be sold to meet principal obligations in the undistributed principal assets shall without regard to property specifically given to a beneficiary and property required to pay pecuniary amounts not in trust; (3) The beneficiary's fractional interest in the undistributed principal assets shall be calculated basis of the those (4) for purposes of this section actually If of person appropriate that , to the extent that the fiduciary considers it appropriate, date of death or earlier date from the disposition of a principal asset if this section applies to the income from the asset → Except to the extent sections 469.471 to 469.487 apply for a that is a trust, each beneficiary (6) share which a beneficiary that a share of decedent's , an income interest's other , the preceding by the fiduciary under subsection 1 of this section share under subdivision (1) shall : (a) the and (b) Without regard to: a. Property specifically given to a beneficiary under the decedent's will or the terms of the trust; and b. Property required to pay pecuniary amounts not in trust; and (3) under subdivision (1) of this subsection the To the extent under this section beneficiary the If this section applies to income from an asset, from the disposition of the asset decedent's death, an income interest's , the preceding by the fiduciary

  amended

• Section 469.417, RSMo

  on which the An a trust or successive income interest On the date it is transferred to the trust in the case of a transferor's On the date of a testator's death in the case of a by reason will testator's On the date of an individual's death in the case of the individual's income pursuant to , whom trustee → in accordance with the terms of the trust an The : (1) The trust for the current income beneficiary; or (2) A successive interest for a successor beneficiary under subdivision (1) of subsection 1 of this section For the settlor's , on the date the asset is transferred For the because decedent's death, on the date of the decedent's death decedent's For a decedent's , on the date of the decedent's death under subdivision (2) of subsection 1 of this section under which fiduciary or shall

  amended

• Section 469.419, RSMo

  trustee one subdivision (1) a decedent dies in the case of before in the case of a trust or successive income interest A trustee shall allocate an income receipt or disbursement to income if its dies begins and it is a periodic due date. An income be treated if its due date is not periodic or it has no due date dies begins shall be allocated to principal shall be allocated to income 3. an a payment for the purposes of sections 469.401 to 469.467 deemed to be who is or, declaration for . A due date is periodic for receipts or disbursements that shall be paid at regular intervals under a lease or an obligation to pay interest or if an entity customarily makes distributions at regular intervals → fiduciary , a receipt subsection 2 , the date on which: (1) For , the decedent died; (2) For a trust or successive interest, If the of a periodic income receipt or disbursement died began, a fiduciary shall allocate the to income. 3. If an income receipt or disbursement is not periodic or has no due date, a fiduciary treat the receipt or disbursement under this section fiduciary shall allocate to principal the died began, to income 4. A receipt or disbursement is periodic under subsections 2 and 3 of this section if: (1) The receipt or disbursement shall be paid at regular intervals under an obligation to make payments; or (2) The payer customarily makes payments at regular intervals. 5. under this section the payer to make a payment 6. : (1) or on behalf of the persons ; (2) of the decision by or on behalf of the entity to make ; or (3) If no date is fixed and the fiduciary does not know the date of the decision by or on behalf of the entity to make the distribution, on the date the fiduciary learns of the decision

  amended

• Section 469.421, RSMo

  For purposes of the phrase phrase , trustee to a mandatory income beneficiary who survives that date, or the estate of a deceased mandatory income beneficiary whose death causes the interest to end, unless the revoke the . In the latter case, revoked shall be added to principal 3. trustee's the trust's trustee if and to the extent by applicable law to accomplish a purpose of the trust or its settlor relating requirements → In on or term Except as otherwise provided in subsection 3 of this section, of a beneficiary fiduciary to the beneficiary or, if the beneficiary does not survive the date the interest ends, to the beneficiary’s estate. 3. If a withdraw value of a an : (1) The fiduciary shall allocate to principal withdrawn; and (2) Subsection 2 of this section applies only to the balance of the undistributed income 4. fiduciary's fiduciary as preserve an tax tax tax, benefit

  amended

• Section 469.423, RSMo

  For purposes of , the term in which a trustee has an interest, other than a trust or estate to which section 469.425 applies, a business or activity to which section 469.427 applies, or an asset-backed security to which section 469.449 applies. 2. this section trustee from . 3. A trustee shall allocate the following receipts from an entity to principal: (1) Property other than money; HCS HB 968 23 (2) Money received in one distribution or a series of related distributions in exchange for part or all of a trust's interest in the entity; (3) Money received in total or partial liquidation of the entity; and (4) Money received from an entity that is a distributed . 4. Money is received in partial liquidation: (1) To the extent that the entity, at or near the time of a distribution, indicates that such money is a distribution in partial liquidation; or (2) If a → In : (1) "Capital distribution" means an entity distribution of money that is a: (a) Return of capital; or (b) Distribution in total or partial liquidation of the entity; (2) : (a) or arrangement in which a fiduciary owns or holds an interest, whether or not the entity is a taxpayer for federal income tax purposes; and (b) Does not include: a. A trust or estate to which section 469.425 applies; b. A business or other activity to which section 469.427 applies that is not conducted by an entity described in paragraph (a) of this subdivision; c. An asset-backed security; or d. An instrument or arrangement to which section 469.450 applies; (3) "Entity distribution" means a payment or transfer by an entity made to a person in the person’s capacity as an owner or holder of an interest in the entity. 2. In this section, an attribute or action of an entity includes an attribute or action of any other entity in which the entity owns or holds an interest, including an interest owned or held indirectly through another entity. 3. subdivisions (2) to (4) of subsection 4 of this section fiduciary : (1) in distribution; and (2) Tangible personal property of nominal value received from the entity. 4. A fiduciary shall allocate to principal: (1) Property received in an entity distribution that is not: (a) Money; or (b) Tangible personal property of nominal value; (2) Money received in an entity distribution in an exchange for part or all of the fiduciary’s interest in the entity, to the extent the entity distribution reduces the fiduciary’s interest in the entity relative to the interests of other persons that own or hold interests in the entity; (3) Money received in an entity distribution that the fiduciary determines or estimates is a capital distribution; and (4) Money received in an entity distribution from an entity that is: (a) received ; or (Treated for federal income tax purposes comparably to the treatment described in paragraph (a) of this subdivision. 5. A fiduciary may determine or estimate that money received in an entity distribution is a capital distribution: (1) By relying, without inquiry or investigation, on a characterization of the entity distribution provided by or on behalf of the entity unless the fiduciary: (a) Determines, on the basis of information known to the fiduciary, that the characterization is or may be incorrect; or (b) Owns or holds more than fifty percent of the voting interest in the entity; (2) By determining or estimating, on the basis of information known to the fiduciary or provided to the fiduciary by or on behalf of the entity, that by the fiduciary the entity a entity or will be fair market value of the fiduciary’s interest in the entity; or (3) If neither subdivision (1) nor (2) of this subsection applies, by considering the factors in subsection 6 of this section and the information known to the fiduciary or provided to the fiduciary by or on behalf of the entity. 6. In making a determination or estimate under subdivision (3) of subsection 5 of this section, a fiduciary may consider: (1) A characterization of an entity distribution provided by or on behalf of the entity; (2) The amount of money or property received in: (a) The entity distribution; or (What the fiduciary determines is or will be a series of related entity distributions; (3) The amount described in subdivision (2) of this subsection compared to the amount the fiduciary determines or estimates is, during the current or preceding accounting periods: (a) The entity’s operating income; (b) The proceeds of the entity’s sale or other disposition of: a. All or part of the business or other activity conducted by the entity; b. One or more business assets that are not sold to customers in the ordinary course of the business or other activity conducted by the entity; or c. One or more assets other than business assets, unless the entity’s primary activity is to invest in assets to realize gain on the disposition of all or some of the assets;

  amended

• Section 469.425, RSMo

  trustee an trust a interest such a trustee or a decedent or donor transfers an interest in such a trust to a trustee, or shall apply → fiduciary , including a unitrust distribution under sections 469.471 to 469.487, fiduciary , an interest the fiduciary in a trust that is an investment entity the fiduciary , or receives from a settlor, , , or 469.450 applies

  amended

• Section 469.427, RSMo

  If a trustee who conducts best interest all it trust's , trustee maintain separate accounting records its its trust 2. trustee who shall , , , trust's . If a trustee sells assets of the business or other activity, other than in the ordinary course of the business or activity, the trustee trust's trustee 3. trustee may maintain separate accounting records Management of Extraction of operations and Activities . → This section applies to conducted by a fiduciary if the fiduciary interests other : (Accounting for ⟦INS⟧ the business or other activity fiduciary's ; or (2) Conducting business or other activity through an entity described in paragraph (a) of subdivision (2) of subsection 1 of section 469.423. 2. A fiduciary account separately under this section the of a business or other activity of the business or other activity held by the fiduciary 3. fiduciary that under this section : (1) : (a) the of the business or other activity shall : a. ; b. ; c. other ; (b) fiduciary's for the trust; (2May make a determination under subdivision (1) of this subsection separately and differently from the fiduciary’s decisions concerning distributions of income or principal; and (3) from the sale of an asset of the business or other activity, other than a sale in the ordinary course of the business or other activity, fiduciary's for the trust, fiduciary net or other activity 4. fiduciary may account separately under this section , Managing Extracting , water, Growing and cutting An activity , 469.449, or 469.450 ; and (8) Any other business conducted by the fiduciary.

  amended

• Section 469.429, RSMo

  trustee pursuant to 469.401 469.467 assets a transferor transferor's , a decedent's , with a terminating , trust or its trustee , including realized profit, subject to sections 469.423 to 469.467 Amounts parties trust disbursements subdivision (7) of other reasons the but a separate award made the with respect to during which is income whom trustee 469.449 → fiduciary under 469.399 469.487 an asset : (a) An individual individual's ; (b) An ; (c) on termination of an ; (d) fiduciary Except as otherwise provided in sections 469.423 to 469.450, , An amount a party fiduciary a disbursement another reason except that proceeds awarded in are income if during the period which fiduciary 469.450

  amended

• Section 469.431, RSMo

  that a trustee accounts receipts from pursuant to this section trustee , shall be added to principal and held subject to the terms of the lease and is not available for distribution to a beneficiary until the trustee's contractual obligations have been satisfied with respect to that amount. → a fiduciary does not account the management of as a business under section 469.427 fiduciary : (1) Shall be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than sections 469.399 to 469.487; and (2) Is not allocated to income or available for distribution to a beneficiary until the fiduciary’s contractual obligations have been satisfied with respect to that amount.

  amended

• Section 469.432, RSMo

  , whether determined at a fixed, variable or floating rate, trustee , shall be allocated to income without any provision for amortization of premium 2. trustee trustee more than one year after it is purchased or acquired by the trustee, including an obligation whose purchase price or value when it is acquired is less than its value at maturity. If the obligation matures within one year after it is purchased or acquired by the trustee, an amount received in excess of its purchase price or its value when acquired by the trust shall be allocated to income 3. This section does not apply to an obligation to which section 469.437, 469.439, 469.441, 469.443, 469.447 or 469.449 applies. → This section does not apply to an obligation to which section 469.437, 469.439, 469.441, 469.443, 469.447, 469.449, or 469.450 applies. 2. A fiduciary shall allocate to income, without provision for amortization of premium, fiduciary 3. fiduciary , fiduciary. A fiduciary shall allocate to income the increment in value of a bond or other obligation for the payment of money bearing no stated interest but payable or redeemable, at maturity or another future time, in an amount that exceeds the amount in consideration of which it was issued

  amended

• Section 469.433, RSMo

  2 trustee in which the trust or its trustee is named the trust or its trustee loss for a trust trustee if , if 2. trustee trustee an income beneficiary, loss of , , loss of 3. This section does not apply to a contract to which section 469.437 applies. → This section does not apply to a contract to which section 469.437 applies. 2. 3 fiduciary received by the fiduciary an fiduciary to extent to extent on the policy 3. fiduciary fiduciary : (1) a current beneficiary; (2) Income; (3)

  amended

• Section 469.435, RSMo

  trustee and income trustee one of the circumstances described in 3 This power be exercised by a cotrustee in the circumstances described in subsection 4 of section 469.405 and may be released for the reasons and in the manner described in subsection 5 of section 469.405. presumed to be or The value of for which the allocation would made is trust's → 1. fiduciary income and fiduciary , 5 2. A fiduciary presume under subsection 1 of this section and to allocated has a fair market value fair market owned or held by the fiduciary 3. The power to make a determination under subsection 1 of this section may be: (1) Exercised by a co-fiduciary in the manner described in subsection 6 of section 469.405; or (2) Released or delegated for a reason described in subsection 7 of section 469.405 and in the manner described in subsection 8 of section 469.405.

  amended

• Section 469.467, RSMo

  "Internal income of a separate fund", the amount determined under subsection 2 of this section; (2) "Marital trust", a trust: (a) Of which the settlor’s surviving spouse is the only current income beneficiary and is entitled to a distribution of all the current net income of the trust; and (b) That qualifies for a marital deduction with respect to the settlor’s estate under 26 U.S.C. Section 2056, as amended, because: a. An election to qualify for a marital deduction under 26 U.S.C. Section 2056(b) (7), as amended, has been made; or b. The trust qualifies for a marital deduction under 26 U.S.C. Section 2056(b)(5), as amended; (3) "Payment", an amount a fiduciary may receive over a fixed number of years or during the life of one or more individuals because of services rendered or property transferred to the payer in exchange for future amounts the fiduciary may receive. The term includes an amount received in money or property from the payer’s general assets or from a separate fund created by the payer; (4) "Separate fund" includes a private or commercial annuity, an individual retirement account, and a pension, profit-sharing, stock bonus, or stock ownership plan. 2. For each accounting period, the following rules apply to a separate fund: (1) The fiduciary shall determine the internal income of the separate fund as if the separate fund was a trust subject to sections 469.399 to 469.487; (2) If the fiduciary cannot determine the internal income of the separate fund under subdivision (1) of this subsection, the internal income of the separate fund is deemed to equal three percent of the value of the separate fund, according to the most recent statement of value preceding the beginning of the accounting period; and (3) If the fiduciary cannot determine the value of the separate fund under subdivision (2) of this subsection, the value of the separate fund is deemed to equal the present value of the expected future payments, as determined under 26 U.S.C. Section 7520, as amended, for the month preceding the beginning of the accounting period for which the computation is made. 3. A fiduciary shall allocate a payment received from a separate fund during an accounting period to income, to the extent of the internal income of the separate fund during the period, and the balance to principal. 4. The fiduciary of a marital trust shall: (1) Withdraw from a separate fund the amount the current income beneficiary of the trust requests the fiduciary to withdraw, not greater than the amount by which the internal income of the separate fund during the accounting period exceeds the amount the fiduciary otherwise receives from the separate fund during the period; (Transfer from principal to income the amount the current income beneficiary requests the fiduciary to transfer, not greater than the amount by which the internal income of the separate fund during the period exceeds the amount the fiduciary receives from the separate fund during the period after the application of subdivision (1) of this subsection; and (3) Distribute to the current income beneficiary as income: (The amount of the internal income of the separate fund received or withdrawn during the period; and (b) The amount transferred from principal to income under subdivision (2) of this subsection. 5. For a trust, other than a marital trust, of which one or more current income beneficiaries are entitled to a distribution of all the current net income, the fiduciary shall transfer from principal to income the amount by which the internal income of a separate fund during the accounting period exceeds the amount the fiduciary receives from the separate fund during the period.

  amended

• Section 469.439, RSMo

  As used the phrase period of phrase The phrase include a payment resources subject to section timber subject to section an activity subject to section an asset subject to section any asset for which the trustee establishes a reserve for depreciation pursuant to section → The ⟦INS⟧ term 2. This section apply to a receipt 469.423, 469.450,

  amended

• Section 469.455, RSMo

  2. trustee ten percent of the receipts from and the balance → 3. fiduciary : (1) : (a) A receipt produced by , to the extent the receipt does not exceed three percent of the value of the asset; or (b) If the fiduciary cannot determine the value of the asset, ten percent of the receipt; and (2) , the balance of the receipt

  amended

• Section 469.441, RSMo

  that a trustee accounts for receipts pursuant to this section trustee them as follows If nominal nominal , a receipt shall be allocated to income a receipt shall be allocated to income if and to the extent that the agreement creating the production payment provides a HCS HB 968 33 factor for interest or its equivalent. The balance shall be allocated to principal; If an amount received or delay rental is more than nominal, ninety percent shall be allocated to principal and the balance to income (4) If an amount is received , or (3) , ninety percent of the net amount received shall be allocated to principal and the balance to income An amount received on account of in water that is renewable shall be allocated to income. If the water is not renewable, ninety percent of the amount shall be allocated to principal and the balance to income. 3. Sections 469.401 to 469.467 apply decedent or donor became subject to the trust trust on 2001 trustee sections 469.401 to 469.467 trustee 2001 trust 2001 trustee sections 469.401 to 469.467 → a fiduciary does not account for a receipt , water, as a business under section 469.427 fiduciary the receipt To income, to the extent : (a) (b) As a factor for interest or the equivalent of interest under an agreement creating a production payment; or (c) On account of an interest in renewable water; To principal, to the extent paragraph (b) of subdivision (1) of this subsection does not apply; or Between income and principal equitably, to the extent received: (a) On account of an interest in nonrenewable water; (b) or or (c) or or paragraph (a) or (b) of this subdivision This section applies to owned or held by a fiduciary settlor , fiduciary owned or held the 3. An allocation of a receipt under subdivision (3) of subsection 1 of this section is presumed to be equitable if the amount allocated to principal is equal to the amount allowed by 26 U.S.C., as amended, as a deduction for depletion of the interest. fiduciary or holds , before 2023 fiduciary this section fiduciary 2023 fiduciary , on or 2023 fiduciary this section

  amended

• Section 469.443, RSMo

  that a trustee accounts pursuant to this section trustee that removed during the accounting periods in which a beneficiary has a mandatory income interest that removed To or timberland owned by a trust removed that pursuant to either pursuant to trustee Sections 469.401 to 469.467 apply decedent or transferor harvesting before it became subject to the trust trust timberland on 2001 trustee sections 469.401 to 469.467 trustee 2001 trust timberland 2001 trustee sections 469.401 to 469.467 → a fiduciary does not account as a business under section 469.427 fiduciary , cut , cut land used for growing and cutting timber cut , , under , under fiduciary This section applies to land owned or held by a fiduciary settlor cutting land before the fiduciary owned or held the fiduciary or holds land used for growing and cutting timber before 2023 fiduciary this section fiduciary 2023 fiduciary land used for growing and cutting timber on or 2023 fiduciary this section

  amended

• Section 469.445, RSMo

  is allowed for all or part of a trust whose consist substantially of property that does , and if the amounts that the trustee transfers from principal to income pursuant to section 469.405 and distributes to the spouse from principal pursuant to the terms of the trust are insufficient to provide the spouse with the beneficial enjoyment required to obtain the marital the spouse may require the trustee , , conferred by subsection 1 of → trust received property for which a gift or estate tax was allowed and the settlor’s spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust otherwise do to qualify for the : (1) ; (2) to property productive of income ; (3) to adjust under

  amended

• Section 469.405, RSMo

  2. In cases not governed by subsection 1 of this section, proceeds from the sale or other disposition of an asset are principal without regard to the amount of income the asset produces during any accounting period. → 2. in subsection 1 of this section

  amended

• Section 469.447, RSMo

  As used the term or financial and financial gives a trust the right or obligation to participate in some or all changes in the price of a or group of assets, or changes in a rate, an index of prices or or other market indicator for an asset or a group of assets that a trustee pursuant to section 469.427 for transactions , the trustee to principal those transactions trustee the , , , trustee , shall be allocated to principal. shall be paid from principal. A upon of an option, including an option granted to a settlor trust for services rendered, shall be allocated to principal → , , other arrangement, , , or other arrangements, the value, rights, and obligations of are, in whole or in part, dependent on or derived from an underlying , group of tangible or intangible assets, index, or occurrence of an event. The term includes stocks, fixed income securities, and financial instruments and arrangements based on indices, commodities, interest weather-related events, and credit default events a fiduciary for a transaction as a business under section 469.427, the fiduciary ten percent of the transaction ten percent of the transaction to income and the balance to principal Subsection 4 of this section applies : (1) fiduciary: (a) a ; (b) ; (c) ; (2) fiduciary . 4. If this subsection applies, the fiduciary shall allocate ten percent to income and the balance to principal of the following amounts: (1) ; (2) ; and (3) on , exchange, settlement, offset, closing, or expiration option

  amended

• Section 469.449, RSMo

  the portion of payment which the shall allocate payment to principal 3. trust trust's entire in one accounting period, the trustee shall allocate the payments to principal. If a payment is one of a series of payments that will result in the trust's over more than one accounting period, trustee ten payment to income the balance to principal → Except as otherwise provided in subsection 2 of this section, a fiduciary a receipt from or related to an asset-backed security, to the extent the payment , to principal receipt 2. fiduciary part or all of fiduciary's , including a or redemption fiduciary's fiduciary to income ten receipts from transaction ten percent of disbursements made in connection with the transaction, and to principal the balance of the receipts and disbursements 469.450.A fiduciary shall allocate receipts from or related to a financial

  amended

• Section 469.487, RSMo

  allocation shall be consistent with sections 469.447 and 469.449.

  amended

• Section 469.451, RSMo

  A trustee shall make the following disbursements from income to the extent that they are not disbursements to which paragraph (b) or (c) of applies trustee of or trustee (2) One-half of all expenses accountings proceedings matters involve the remainder (3) All of the other expenses the trust the repairs taxes expenses a concerns the Recurring premiums the the loss of → Subject to section 469.456, and except as otherwise provided in or (3) of subsection 3 , a fiduciary shall disburse from income : (a) fiduciary , , or other fiduciary, to the extent income is sufficient and (b) An expense an accounting or nonjudicial proceeding matter involves successive , to the extent income is sufficient The balance of the disbursements described in subdivision (1) of this section, to the extent a fiduciary that is an independent person determines that making those disbursements from income would be in the interests of the beneficiaries; (3)Another expense , an repair tax an expense an accounting, judicial or nonjudicial , involves an , to the extent income is sufficient A premium

  amended

• Section 469.453, RSMo

  A trustee shall make the following disbursements remaining one-half subdivisions (1) and (2) All of trustee's , and disbursements made to prepare property for sale Payments (4) Expenses of a concerns an interest in (5) Premiums paid on a policy of trust (6) , and other transfer taxes ⟦/Extraordinary expenses incurred in connection with the management and preservation of trust property; HCS HB 968 38 (8) Expenses for a capital improvement to a principal asset, whether in the form of changes to an existing asset or the construction of a new asset, including special assessments; and (9) Disbursements , , , , , those , and payments made those , , . that the trustee → Subject to section 469.457, and except as otherwise provided in subdivision (2) of subsection 3 of section 469.413, a fiduciary shall disburse balance subsections 1 and 3 of section 469.451, after application of subsection 2 fiduciary's , A payment of an expense to prepare for or execute a sale or other disposition of property; (4) A payment (5) A payment of an expense of an accounting, judicial or nonjudicial , involves , including a proceeding to construe the terms of the trust or protect property (6) A payment of a premium for insurance, including title , fiduciary (7) A payment of an or tax or other tax imposed because of the death of a decedent (8) A payment: (a) : a. ; b. ; c. ; d. ; e. ; f. described in subparagraphs a. to e. of this paragraph; g. ; h. actions environmental ; i. ; j. ; and (b) For a premium for insurance for matters described in paragraph (a) of this subdivision. the a fiduciary

  amended

• Section 469.455, RSMo

  As used the term fixed trustee may that portion or (2) During the administration of a decedent's estate; or Pursuant to if the trustee is accounting pursuant to section 469.427 as a separate fund → , tangible fiduciary shall the part ; (2) or Under , to the extent the fiduciary accounts: (a) Under section 469.439 for the asset; or (b) Under section 469.427 other under this section separately

  amended

• Section 469.456, RSMo

  described in subsection 2 of this section, the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income. 2. To the extent the fiduciary has not been and does not expect to be reimbursed by a third party, income disbursements to which subsection 1 of this section applies include: (1) An amount chargeable to principal but paid from income because principal is illiquid; (2) A disbursement made to prepare property for sale, including improvements and commissions; and (3) A disbursement described in subsection 1 of section 469.453. 3. If an asset whose ownership gives rise to an income disbursement becomes subject to a successive interest after an income interest ends, the fiduciary may continue to make transfers under subsection 1 of this section.

  amended

• Section 469.457, RSMo

  trustee trustee to the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a third party it unusually large, including extraordinary repairs Disbursements broker's (3) payments that payments (4) Disbursements subdivision (7) of → fiduciary subsection 2 of fiduciary To the extent a fiduciary has not been and does not expect to be reimbursed by a third party, income not sufficient The cost of an improvement to principal, whether a change to an existing asset or the construction of a new asset, including a special assessment; (3) A disbursement (4) A payment , payment (5) A disbursement

  amended

• Section 469.453, RSMo

  the the disbursements income a trustee transfer amounts from income to principal as provided in → an a principal disbursement the fiduciary make transfers under

  amended

• Section 469.459, RSMo

  trustee trustee trustee the trust's From extent that are allocated to income From that are allocated only to principal the trustee that trust's the trust receives → fiduciary that is fiduciary that is Subject to subsection 4 of this section and sections 469.456, 469.457, and 469.462, fiduciary a in an accounting period from and principal proportionately allocation between income and principal of in the period the tax exceeds the in the period a fiduciary , the fiduciary pays of a

  amended

• Section 469.462, RSMo

  to offset the shifting of economic interests or tax benefits between current income beneficiaries and successor beneficiaries that arises from: (1) An election or decision the fiduciary makes regarding a tax matter, other than a decision to claim an income tax deduction to which subsection 2 of this section applies; (2) An income tax or other tax imposed on the fiduciary or a beneficiary as a result of a transaction involving the fiduciary or a distribution by the fiduciary; or (3) Ownership by the fiduciary of an interest in an entity, a part of whose taxable income, whether or not distributed, is includable in the taxable income of the fiduciary or a beneficiary. 2. If the amount of an estate tax marital or charitable deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes and, as a result, estate taxes paid from principal are increased and income taxes paid by the fiduciary or a beneficiary are decreased, the fiduciary shall charge each beneficiary that benefits from the decrease in income tax to reimburse the principal from which the increase in estate tax is paid. The total reimbursement shall equal the increase in the estate tax, to the extent the principal used to pay the increase would have qualified for a marital or charitable deduction but for the payment. The share of the reimbursement for each fiduciary or beneficiary whose income taxes are reduced shall be the same as its share of the total decrease in income tax. 3. A fiduciary that charges a beneficiary under subsection 2 of this section may offset the charge by obtaining payment from the beneficiary, withholding an amount from future distributions to the beneficiary, or adopting another method or combination of methods.

  amended

Action History

1. May 10, 2023

   Dropped from Calendar - Pursuant to House Rules (H)

2. April 25, 2023

   Placed on the Informal Perfection Calendar (H)

3. April 17, 2023

   Reported Do Pass (H) - AYES: 9 NOES: 0 PRESENT: 0

4. April 17, 2023

   Voted Do Pass (H)

5. April 17, 2023

   Executive Session Completed (H)

6. April 12, 2023

   Referred: Rules - Administrative Oversight(H)

7. April 11, 2023

   HCS Reported Do Pass (H) - AYES: 10 NOES: 0 PRESENT: 0

8. April 11, 2023

   HCS Voted Do Pass (H)

9. April 11, 2023

   Executive Session Completed (H)

10. April 04, 2023

    Public Hearing Completed (H)

11. February 15, 2023

    Referred: Financial Institutions(H)

12. January 30, 2023

    Read Second Time (H)

13. January 26, 2023

    Introduced and Read First Time (H)

Sponsors

• Terry Thompson · Primary

Votes

Subjects