Relates to the computation and allocation of the commissions of trustees of charitable trusts; repealer

This bill (A 8300) modifies how trustees of charitable trusts are paid commissions. It requires commissions for trusts serving public, religious, charitable, scientific, literary, educational, or fraternal purposes to be paid from trust principal (not income) after certain amounts are set aside for annuity or unitrust payments. It limits commissions to 80% of standard rates, with a reduced 50% rate for trust principal exceeding $20 million. The bill repeals one existing provision and applies to all such trusts existing after its effective date.