Bill Text: PA HB2285 | 2011-2012 | Regular Session | Amended

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Bill Title: In Pennsylvania Uniform Transfers to Minors Act, further providing for court authorization of a transfer and, in trusts, further providing for pooled trusts for persons with disabilities.

Spectrum: Moderate Partisan Bill (Republican 14-2)

Status: (Engrossed - Dead) 2012-10-15 - Re-referred to APPROPRIATIONS [HB2285 Detail]

Download: Pennsylvania-2011-HB2285-Amended.html

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SENATE AMENDED
PRIOR PRINTER'S NO. 3287 PRINTER'S NO. 4167
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2285 Session of2012
INTRODUCED BY DELOZIER, GABLER, DeLUCA, GIBBONS, GINGRICH, GODSHALL, HESS, KILLION, QUIGLEY, GROVE, HARPER, MILNE, RAPP, GEIST, MURT AND DENLINGER, MARCH 27, 2012
SENATOR GREENLEAF, JUDICIARY, IN SENATE, AS AMENDED, OCTOBER 2, 2012
AN ACT
Amending Title 20 (Decedents, Estates and Fiduciaries) of the
Pennsylvania Consolidated Statutes, in Pennsylvania Uniform
Transfers to Minors Act, further providing for court
authorization of a transfer and, in trusts, further providing <--
for pooled trusts for persons with disabilities.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 5306(c)(3) of Title 20 of the <--
Pennsylvania Consolidated Statutes is amended to read:
Section 1. Sections 5306(c)(3) and 7799.3 heading and <--
subsections (f) and (h) of Title 20 of the Pennsylvania
Consolidated Statutes are amended to read:
§ 5306. Other transfer by fiduciary.
* * *
(c) Additional requirements for transfer.--A transfer under
subsection (a) or (b) may be made only if:
* * *
(3) the transfer is authorized by the court if it
exceeds [$25,000] $50,000 in value.
§ 7799.3. Pooled trusts for [persons] individuals with <--
disabilities.
* * *
(f) Notice.--The Office of Attorney General and the
Department of Public Welfare shall make available information on
the treatment of pooled trusts for the [persons] individuals
with disabilities in the medical assistance program.
* * *
(h) Definitions.--As used in this section, the following
words and phrases shall have the meanings given to them in this
subsection:
"Beneficiary." An individual with a disability who has the
right to receive services and benefits of a pooled trust.
"Board." A group of persons vested with the management of
the business affairs of a trustee.
"Disability." A physical or mental impairment as defined in
section 1614 of the Social Security Act (49 Stat. 620, 42 U.S.C.
§ 1382c).
"Pooled trust." A trust which meets all of the following:
(1) The trust contains assets of more than one
beneficiary.
(2) Each beneficiary [has] is an individual with a
disability.
(3) The trust is managed by a nonprofit corporation.
(4) A separate account is maintained for each
beneficiary of the trust, but, for purposes of investment and
management of funds, the trust pools these accounts. Accounts
in the trust may be established by the parent, grandparent or
legal guardian of the individual with a disability, by the
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individual with a disability or by a court.
(5) Upon the death of a beneficiary or upon the earlier
termination of the trust, amounts remaining in the
beneficiary's account must be distributed in accordance with
one of the following:
(i) The trust may retain up to 50% of the remaining
balance for the benefit of other beneficiaries or other
individuals with disabilities. The remaining 50% of the
balance must be reimbursed to the Commonwealth and any
other state that provided medical assistance up to an
amount equal to the total amount of medical assistance
paid on behalf of the beneficiary.
(ii) The amounts must be used to reimburse the
Commonwealth and any other state that provided medical
assistance up to an amount equal to the total amount of
medical assistance paid on behalf of the beneficiary.
"Trustee." A nonprofit organization that manages a pooled
trust.
Section 2. The amendment of 20 Pa.C.S. § 5306(c)(3) shall
apply to transfers initiated on or after the effective date of
this act section. <--
Section 3. This act shall take effect in 60 days.
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