HB0199ham001 98TH GENERAL ASSEMBLY

Rep. Emily McAsey

Filed: 3/19/2013

09800HB0199ham001 LRB098 00014 HEP 43442 a

AMENDMENT TO HOUSE BILL 199

AMENDMENT NO. ______. Amend House Bill 199 on page 21, by replacing line 6 with the following: "with subsection (b) 5.3(b) of the total return trust provisions of"; and

on page 21, by replacing lines 18 through 21 with the following:

"(c) Representation of charity. If a trust provides a beneficial interest or expectancy"; and

on page 22, by replacing lines 4 through 7 with the following: "accordance with subsection (b) 5.3(b) of the total return trust provisions of Section 5.3 of this Act. A charity that is specifically named as beneficiary of a trust or that otherwise has an express beneficial interest in a trust may act for itself. This subsection (c) shall be construed as being declarative of existing law and not as a new enactment. Notwithstanding any other provision,"; and

on page 22, line 14, after "trust.", by inserting the following: "This subsection (c) shall be construed as being declarative of existing law and not as a new enactment."; and

on page 25, immediately below line 17, by inserting the following:

"(4.5) If a charitable interest or a specifically named charity is a current beneficiary, is a presumptive remainder beneficiary, or has any vested interest in a trust, the parties to any proposed nonjudicial settlement agreement affecting the trust shall deliver to the Attorney General's Charitable Trust Bureau written notice of the proposed agreement at least 60 days prior to its effective date. The Bureau need take no action, but if it objects in a writing delivered to one or more of the parties prior to the proposed effective date, the agreement shall not take effect unless the parties obtain court approval.".