CO SB124

Amends Colorado Revised Statutes 15-16-919(2)(j)(I) to correct language regarding decanting power limitations for grantor trusts.

Changes the phrase "the second trust" to "the FIRST trust" in the provision describing when a fiduciary cannot exercise decanting power if a settlor objects.

Applies to situations where both the first and second trusts are grantor trusts and one trust grants power to cause the other to cease being a grantor trust without equivalent power in the second trust.

Takes effect on August 9, 2017 (ninety days after adjournment), unless a referendum petition is filed, in which case it requires approval by voters at the November 2018 general election.