Illinois Compiled Statutes > 760 ILCS 60 – Charitable Trust Tax Law Conformance Act
Current as of: 2024 | Check for updates
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| § 760 ILCS 60/0.01 | Short title |
| § 760 ILCS 60/1 | Charitable trusts-Federal tax laws. (1) Notwithstanding any provision … |
| § 760 ILCS 60/2 | Severability |
Terms Used In Illinois Compiled Statutes > 760 ILCS 60 - Charitable Trust Tax Law Conformance Act
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.