Date: 02/12/2009

Final
BILL SUMMARY for HB09-1241

HOUSE COMMITTEE ON JUDICIARY

Votes: View--> Action Taken:
Adopt prepared amendment L.001 (Attachment I). Th
Adopt prepared amendment L.002 (Attachment J). Th
Refer House Bill 09-1241, as amended, to the Commi		Pass Without Objection
Pass Without Objection
PASS



03:53 PM -- House Bill 09-1241

Representative Roberts, prime sponsor, presented House Bill 09-1241 concerning Title 15 of the Colorado Revised Statutes. The bill enacts the Uniform Principal and Income Act of 1955 as it existed at the time of the adoption of the Uniform Principal and Income Act of 2000. The bill limits the applicability of the 1955 act to trusts and other interests that are not subject to the 2000 act. The 1955 act is applied retroactively for life estates for which there is no applicable law for the interim from the adoption of the 2000 act to the present. Further, the bill allows the holders of life estates to elect against the applicability of the 1955 act. Representative Roberts distributed prepared amendments L.001 (Attachment I) and L.002 (Attachment J).

09HouseJud0212AttachI.pdf 09HouseJud0212AttachJ.pdf

03:58 PM -- Eugene Zuspann, Colorado Bar Association, spoke in support of the bill. Mr. Zuspann explained the Uniform Principal and Income Act and how it differs from current Colorado law.

04:02 PM -- Bob Steenrod, Colorado Bar Association, spoke in support of the bill. Mr. Steenrod discussed the procedures for handling an estate in Colorado and how the bill improves those procedures.

04:08 PM -- Kevin Millard, Colorado Bar Association, spoke in support of the bill. He spoke in favor of Section 7 of the bill dealing with how a parent appoints a guardian for their children. The bill strikes the requirement for witnesses and a notary, essentially making it easier for parents to appoint guardians for their children.


04:09 PM

Representative Roberts wrapped up her presentation of the bill and asked for a favorable recommendation.
BILL:HB09-1241
TIME: 04:10:05 PM
MOVED:Gardner B.
MOTION:Adopt prepared amendment L.001 (Attachment I). The motion passed without objection.
SECONDED:Roberts
VOTE
Apuan
Court
Gardner B.
King
Miklosi
Pace
Roberts
Ryden
Waller
McCann
Levy
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB09-1241
TIME: 04:10:19 PM
MOVED:Roberts
MOTION:Adopt prepared amendment L.002 (Attachment J). The motion passed without objection.
SECONDED:Waller
VOTE
Apuan
Court
Gardner B.
King
Miklosi
Pace
Roberts
Ryden
Waller
McCann
Levy
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB09-1241
TIME: 04:10:32 PM
MOVED:Roberts
MOTION:Refer House Bill 09-1241, as amended, to the Committee of the Whole with a favorable recommendation. The motion passed on a vote of 9-0, with 2 excused.
SECONDED:Court
VOTE
Apuan
Yes
Court
Yes
Gardner B.
Yes
King
Yes
Miklosi
Excused
Pace
Excused
Roberts
Yes
Ryden
Yes
Waller
Yes
McCann
Yes
Levy
Yes
Final YES: 9 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS