House Sponsors: SCHOENBERG. Short description: UNIFORM PRINCIPAL & INCOME ACT Synopsis of Bill as introduced: Creates the Uniform Principal and Income Act (1997). Contains provisions regarding: how income earned during the probate of an estate is distributed to trusts and to persons; when an income interest in a trust begins, what property is principal and what is income; when an income interest ends, who gets the income that has not been distributed or collected, or that is not yet due; and how an income interest's receipts and disbursements should be allocated between principal and income. Repeals the Principal and Income Act. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status