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2010 Senate Bill 2842: Relating to the permitted transfers in trust act
Public Act 182 of 2010
Introduced by Sen. Robert Bunda D- on January 27, 2010
To allow the establishment of perpetual trusts that are protected against some provisions of federal estate taxes and are protected against the claims of certain creditors. Official Text and Analysis.
Received in the House on March 2, 2010
To offer incentives to individuals with high net worth throughout the world to transfer a portion of their liquid net worth into Hawaii for asset and trust management; to create the Permitted Transfers in Trust Act to govern transfers of currency, bonds, and securities from a transferor to a trustee by means of an irrevocable trust instrument.
Received in the Senate on April 7, 2010
Failed by voice vote in the Senate on April 8, 2010
Received in the House on April 23, 2010
To offer incentives to individuals with high net worth throughout the world to transfer a portion of their liquid net worth into Hawaii for asset and trust management; to create the Permitted Transfers in Trust Act to govern transfers of currency, bonds, and securities from a transferor to a trustee by means of an irrevocable trust instrument; and to set a one percent excise tax on the fair market value of all permitted transfers, among other changes, as amended in conference committee.
Received in the Senate on April 23, 2010
Signed by Gov. Linda Lingle on June 28, 2010