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HB1491: relative to trust fund interest.

Citation
2016 HB1491
Official source

Bill details

Version history, amendments, and roll-call votes were not present in the imported local bill data.

House status
Inexpedient to Legislate
Committee
HOUSE Commerce and Consumer Affairs
Hearing
02/03/2016 at 11:30 AM
Selected version
Current official bill text

Sponsors

Topics

Commerce and Consumer Affairs Public finance

Official links

HB 1491 - AS INTRODUCED

2016 SESSION

16-2607

01/09

HOUSE BILL 1491

AN ACT relative to trust fund interest.

SPONSORS: Rep. Kurk, Hills. 2

COMMITTEE: Commerce and Consumer Affairs

ANALYSIS

This bill requires all interest earned on a charitable trust to be paid to the trust fund or the beneficiary of the trust.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

16-2607

01/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Sixteen

AN ACT relative to trust fund interest.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Section; Trust Fund Interest. Amend RSA 7 by inserting after section 28-f the following new section:

7:28-g Trust Fund Interest. All interest earned on a charitable trust fund shall be paid to the trust fund or to the beneficiary of the trust unless the beneficiary otherwise directs in writing. No such interest shall be diverted to any other purpose.

2 Effective Date. This act shall take effect January 1, 2017.