Illinois HB 4436: IDPH-HOSPITALS-TEMP WORKERS

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HB4436 EngrossedLRB104 17445 JRC 30871 b

1 AN ACT concerning civil law.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Trust Code is amended by changing 

5Sections 103, 110, 402, and 407 and by adding Section 409.5 as 

6follows:

7 (760 ILCS 3/103)

8 Sec. 103. Definitions. In this Code:

9 (1) "Action", with respect to an act of a trustee, 

10includes a failure to act. 

11 (1.5) "Appointive property" means the property or property 

12interest subject to a power of appointment. 

13 (2) "Ascertainable standard" means a standard relating to 

14an individual's health, education, support, or maintenance 

15within the meaning of Section 2041(b)(1)(A) or 2514(c)(1) of 

16the Internal Revenue Code and any applicable regulations. 

17 (3) "Beneficiary" means a person that: 

18 (A) has a present or future beneficial interest in a 

19 trust, vested or contingent, assuming nonexercise of 

20 powers of appointment, excluding the right of a settlor to 

21 be reimbursed for tax obligations as provided in paragraph 

22 (3) of subsection (a) of Section 505; 

23 (B) in a capacity other than that of trustee, holds a 

HB4436 Engrossed- 2 -LRB104 17445 JRC 30871 b

1 power of appointment over trust property; or 

2 (C) is an identified charitable organization that will 

3 or may receive distributions under the terms of the trust. 

4"Beneficiary" does not include a permissible appointee of 

5power of appointment, other than the holder of a presently 

6exercisable general power of appointment, until the power is 

7exercised in favor of such appointee. 

8 (4) "Charitable interest" means an interest in a trust 

9that: 

10 (A) is he