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2003 SESSION
SB 1261 Preneed funeral contracts through irrevocable trusts.
Introduced by: Charles R. Hawkins | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Preneed funeral contracts through irrevocable trusts. Clarifies that preneed funeral contracts executed through an irrevocable trust are not revocable and, therefore, qualify as a resource exclusion under Medicaid or other federal or state needs-based assistance programs. The bill creates an exception to the law that preneed funeral contracts shall be subject to termination if a person establishes an irrevocable burial trust, or an amount in an irrevocable trust that is specifically identified as available for burial expenses, where (i) a person irrevocably contracts for funeral goods and services, such person funds the contract by prepaying for the goods and service, and the funeral provider residing or doing business within the Commonwealth subsequently places the funds in a trust; or (ii) a person establishes an irrevocable trust naming the funeral provider as the beneficiary; however, such person shall have the right to change the beneficiary to another funeral provider. This bill is identical to HB 2418.
FULL TEXT
- 01/13/03 Senate: Presented & ordered printed 034330436 pdf
- 01/23/03 Senate: Committee substitute printed 033160436-S1 pdf
- 02/06/03 House: Committee substitute printed 033174436-H1 pdf
- 02/26/03 Senate: Bill text as passed Senate and House (SB1261ER) pdf
- 03/27/03 Governor: Acts of Assembly Chapter text (CHAP0673) pdf
HISTORY
- 01/13/03 Senate: Presented & ordered printed 034330436
- 01/13/03 Senate: Referred to Committee on General Laws
- 01/22/03 Senate: Reported from General Laws with sub (14-Y 0-N)
- 01/23/03 Senate: Committee substitute printed 033160436-S1
- 01/24/03 Senate: Constitutional reading dispensed (38-Y 0-N)
- 01/24/03 Senate: VOTE: CONST. RDG. DISPENSED R (38-Y 0-N)
- 01/27/03 Senate: Read second time
- 01/27/03 Senate: Reading of substitute waived
- 01/27/03 Senate: Committee substitute agreed to 033160436-S1
- 01/27/03 Senate: Engrossed by Senate - committee substitute 033160436-S1
- 01/28/03 Senate: Read third time and passed Senate (38-Y 0-N)
- 01/28/03 Senate: VOTE: PASSAGE R (38-Y 0-N)
- 01/28/03 Senate: Communicated to House
- 01/30/03 House: Placed on Calendar
- 01/30/03 House: Read first time
- 01/30/03 House: Referred to Committee on Health, Welfare and Institutions
- 02/06/03 House: Reported from H. W. I. w/substitute (22-Y 0-N)
- 02/06/03 House: Committee substitute printed 033174436-H1
- 02/07/03 House: Read second time
- 02/10/03 House: Read third time
- 02/10/03 House: Committee substitute agreed to 033174436-H1
- 02/10/03 House: Engrossed by House - committee substitute 033174436-H1
- 02/10/03 House: Passed House with substitute BLOCK VOTE (99-Y 0-N)
- 02/10/03 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/12/03 Senate: House substitute agreed to by Senate (40-Y 0-N)
- 02/12/03 Senate: VOTE: CONCUR HOUSE AMENDMENT (40-Y 0-N)
- 02/26/03 Senate: Bill text as passed Senate and House (SB1261ER)
- 03/05/03 Senate: Enrolled
- 03/05/03 House: Signed by Speaker
- 03/06/03 Senate: Signed by President
- 03/19/03 Governor: Approved by Governor-Chapter 673 (effective 7/1/03)
- 03/27/03 Governor: Acts of Assembly Chapter text (CHAP0673)