Senate Sponsors: WALSH,T. Short description: PRINCIPAL & INC-CREDIT-EXPENSE Synopsis of Bill as introduced: Amends the Principal and Income Act. Provides that, under specified circumstances, a trust is administered with due regard to the respective interests of income beneficiaries and remaindermen if a receipt is credited or an expense is charged to income or principal or partly to each in accordance with what the trustee believes is reasonable and equitable (rather than in accordance with what is reasonable and equitable) in view of the interests of those entitled to income as well as those entitled to principal. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status