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Developed and maintained by the Division of Legislative Automated Systems.
1999 SESSION
HB 842 Principal and Income Act; created.
Introduced by: Whittington W. Clement | all patrons ... notes | add to my profiles
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)
Uniform Principal and Income Act. Replaces the prior uniform act to reflect modern trust investment practices in the allocation of principal and income. The bill provides procedures for trustees administering estates in separating principal from income, and ensuring that the intention of the creator of the trust is the guiding principle for trustees.
The bill is recommended by the Virginia Commissioners to the National Conference of Commissioners on Uniform State Laws.
FULL TEXT
- 01/26/98 House: Presented & ordered printed 983750152 pdf
- 12/22/98 House: Introduced bill reprinted 983750152 pdf
- 12/22/98 House: Committee substitute printed 992015152-H1 pdf
- 01/21/99 House: Printed as engrossed 992015152-EH1 pdf
- 02/24/99 House: Bill text as passed House and Senate (HB842ER) pdf
- 04/07/99 House: Reenrolled bill text (HB842ER2) pdf
- 04/14/99 Governor: Acts of Assembly Chapter text (CHAP0975) pdf
AMENDMENTS
- House amendments
- House amendments rejected
- Senate amendments
- Senate amendments engrossed
- Governor's recommendation
HISTORY
- 01/26/98 House: Presented & ordered printed 983750152
- 01/26/98 House: Referred to Committee for Courts of Justice
- 02/02/98 House: Assigned to C. J. sub-committee: 2
- 02/05/98 House: Continued to 1999 in Courts of Justice (23-Y 0-N)
- 11/23/98 House: Reported from C. J. with substitute (21-Y 3-N)
- 12/22/98 House: Introduced bill reprinted 983750152
- 12/22/98 House: Committee substitute printed 992015152-H1
- 01/14/99 House: Read first time
- 01/15/99 House: Passed by for the day
- 01/18/99 House: Passed by for the day
- 01/19/99 House: Passed by for the day
- 01/20/99 House: Passed by for the day
- 01/21/99 House: Read second time
- 01/21/99 House: Committee substitute agreed to 992015152-H1
- 01/21/99 House: Amendments #1-3 by Mr. Clement agreed to
- 01/21/99 House: Amendments by Mr. Tate rejected
- 01/21/99 House: Amendments #4-8 by Mr. Clement agreed to
- 01/21/99 House: Title replaced
- 01/21/99 House: Engrossed by House - com. sub.w/amds. 992015152-EH1
- 01/21/99 House: Printed as engrossed 992015152-EH1
- 01/22/99 House: Passed by for the day
- 01/25/99 House: Read third time and passed House (92-Y 7-N)
- 01/25/99 House: VOTE: PASSAGE (92-Y 7-N)
- 01/25/99 House: Communicated to Senate
- 01/26/99 Senate: Constitutional reading dispensed
- 01/26/99 Senate: Referred to Committee for Courts of Justice
- 02/09/99 Senate: Assigned to C. J. sub-committee: Civil Law
- 02/10/99 Senate: Reported from Courts of Justice w/amd. (13-Y 1-N)
- 02/11/99 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/11/99 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 02/12/99 Senate: Read third time
- 02/12/99 Senate: Reading of amendment waived
- 02/12/99 Senate: Committee amendment agreed to
- 02/12/99 Senate: Engrossed by Senate as amended
- 02/12/99 Senate: Passed Senate with amendment (39-Y 1-N)
- 02/12/99 Senate: VOTE: PASSAGE (39-Y 1-N)
- 02/15/99 House: Placed on Calendar
- 02/16/99 House: Senate amendments agreed to by House (98-Y 0-N)
- 02/16/99 House: VOTE: ADOPTION (98-Y 0-N)
- 02/24/99 House: Bill text as passed House and Senate (HB842ER)
- 02/26/99 House: Enrolled
- 02/26/99 House: Signed by Speaker
- 02/26/99 Senate: Signed by President
- 03/29/99 House: Governor's recommendation received by House
- 04/07/99 House: Placed on Calendar
- 04/07/99 House: House concurred in Gov. recomm. (Block Vote) (99-Y 0-N)
- 04/07/99 House: VOTE: BLOCK VOTE-ADOPTION (99-Y 0-N)
- 04/07/99 Senate: Senate concurred in Gov's recommendation (40-Y 0-N)
- 04/07/99 Senate: VOTE: (40-Y 0-N)
- 04/07/99 Senate: Rec. of Gov's recommendation agreed to (40-Y 0-N)
- 04/07/99 Senate: VOTE: (40-Y 0-N)
- 04/07/99 Senate: Senate concurred in Gov's recommendation (40-Y 0-N)
- 04/07/99 Senate: VOTE: (40-Y 0-N)
- 04/07/99 Governor: Governor's recommendation adopted
- 04/07/99 House: Reenrolled
- 04/07/99 House: Signed by Speaker as reenrolled
- 04/07/99 Senate: Signed by President as reenrolled
- 04/07/99 House: Enacted, Chapter 975 (effective 1/1/00)
- 04/07/99 House: Reenrolled bill text (HB842ER2)
- 04/14/99 Governor: Acts of Assembly Chapter text (CHAP0975)