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Committee advances Kansas Community Property Trust Act out of committee
Summary
The Committee on Financial Institutions and Pensions voted to move HB2590, the Kansas Community Property Trust Act, out of committee favorably after Jason Thompson summarized changes to the uniform trust code permitting community property trusts, designated representatives and expanded terms in governing instruments.
The Committee on Financial Institutions and Pensions voted to advance HB2590, the Kansas Community Property Trust Act, out of committee on a voice vote after a short presentation.
Jason Thompson, an adviser to the committee, said the bill would "enact the Kansas Community Property Trust Act," amend the state's uniform trust code to allow trustees to account for certain grantor trust tax treatments, permit designated representatives for trusts where currently not allowed, and permit governing instruments to expand, restrict or eliminate some default rules that apply in trust administration. Committee members indicated they had no questions and no amendments were offered during the hearing.
A member moved to pass HB2590 favorably out of committee and the motion was seconded; the chair declared the motion passed on a voice vote. The transcript records that the motion passed but does not include a roll‑call tally.
The committee did not take further public testimony on HB2590 during this meeting, and the bill was reported out of committee for further action on the House floor.
