HB 1491 - AS INTRODUCED
2016 SESSION
\t16-2607
\t01/09
HOUSE BILL\t1491
AN ACT\trelative to trust fund interest.
SPONSORS:\tRep. Kurk, Hills. 2
COMMITTEE:\tCommerce and Consumer Affairs
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ANALYSIS
\tThis 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:\tMatter added to current law appears in bold italics.
\t\tMatter removed from current law appears [in brackets and struckthrough.]
\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.
\t16-2607
\t01/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Sixteen
AN ACT\trelative to trust fund interest.
Be it Enacted by the Senate and House of Representatives in General Court convened:
\t1 New Section; Trust Fund Interest. Amend RSA 7 by inserting after section 28-f the following new section:
\t7:28-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.
\t2 Effective Date. This act shall take effect January 1, 2017.