reglab/housing_qa huggingface dataset:
DC Code § 28-4803.02 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter III - Apportionment And End Of Income Interest|§ 28-4803.02. Apportionment of receipts and disbursements when decedent dies or income interest begins

(a) A trustee shall allocate an income receipt or disbursement other than one to which § 28-4802.01(1) applies to principal if its due date occurs before a decedent dies in the case of an estate or before an income interest begins in the case of a trust or successive income interest. (b) A trustee shall allocate an income receipt or disbursement to income if its due date occurs on or after the date on which a decedent dies or an income interest begins and it is a periodic due date. An income receipt or disbursement shall be treated as accruing from day to day if its due date is not periodic or it has no due date. The portion of the receipt or disbursement accruing before the date on which a decedent dies or an income interest begins shall be allocated to principal and the balance must be allocated to income. (c) An item of income or an obligation is due on the date the payer is required to make a payment. If a payment date is not stated, there is no due date for the purposes of this chapter. Distributions to shareholders or other owners from an entity to which § 28-4804.01 applies are deemed to be due on the date fixed by the entity for determining who is entitled to receive the distribution or, if no date is fixed, on the declaration date for the distribution. A due date is periodic for receipts or disbursements that must be paid at regular intervals under a lease or an obligation to pay interest or if an entity customarily makes distributions at regular intervals.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Editor's Notes Uniform Law: This section is based upon § 302 of the Uniform Principal and Income Act ((1997 Act).
DC Code § 28-4803.03 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter III - Apportionment And End Of Income Interest|§ 28-4803.03. Apportionment when income interest ends

(a) For the purposes of this section, the term “undistributed income” means net income received before the date on which an income interest ends. The term “undistributed income” does not include an item of income or expense that is due or accrued or net income that has been added or is required to be added to principal under the terms of the trust. (b) When a mandatory income interest ends, the trustee shall pay to a mandatory income beneficiary who survives that date, or the estate of a deceased mandatory income beneficiary whose death causes the interest to end, the beneficiary’s share of the undistributed income that is not disposed of under the terms of the trust unless the beneficiary has an unqualified power to revoke more than 5 percent of the trust immediately before the income interest ends. In the latter case, the undistributed income from the portion of the trust that may be revoked shall be added to principal. (c) When a trustee’s obligation to pay a fixed annuity or a fixed fraction of the value of the trust’s assets ends, the trustee shall prorate the final payment if and to the extent required by applicable law to accomplish a purpose of the trust or its settlor relating to income, gift, estate, or other tax requirements.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Editor's Notes Uniform Law: This section is based upon § 303 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4805.01 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter V - Allocation Of Disbursements During Administration Of Trust|§ 28-4805.01. Disbursements from income

A trustee shall make the following disbursements from income to the extent that they are not disbursements to which § 28-4802.01(2)(B) or (C) applies: (1) One-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee; (2) One-half of all expenses for accountings, judicial proceedings, or other matters that involve both the income and remainder interests; (3) All of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income interest; and (4) Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Section References This section is referenced in § 28-4802.01 and § 28-4805.02. Editor's Notes Uniform Law: This section is based upon § 501 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4805.02 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter V - Allocation Of Disbursements During Administration Of Trust|§ 28-4805.02. Disbursements from principal

(a) A trustee shall make the following disbursements from principal: (1) The remaining one-half of the disbursements described in § 28-4805.01(1) and (2); (2) All of the trustee’s compensation calculated on principal as a fee for acceptance, distribution, or termination, and disbursements made to prepare property for sale; (3) Payments on the principal of a trust debt; (4) Expenses of a proceeding that concerns primarily principal, including a proceeding to construe the trust or to protect the trust or its property; (5) Premiums paid on a policy of insurance not described in § 28-4805.01(4) of which the trust is the owner and beneficiary; (6) Estate, inheritance, and other transfer taxes, including penalties, apportioned to the trust; and (7) Disbursements related to environmental matters, including reclamation, assessing environmental conditions, remedying and removing environmental contamination, monitoring remedial activities and the release of substances, preventing future releases of substances, collecting amounts from persons liable or potentially liable for the costs of those activities, penalties imposed under environmental laws or regulations and other payments made to comply with those laws or regulations, statutory or common law claims by third parties, and defending claims based on environmental matters. (b) If a principal asset is encumbered with an obligation that requires income from that asset to be paid directly to the creditor, the trustee shall transfer from principal to income an amount equal to the income paid to the creditor in reduction of the principal balance of the obligation.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Section References This section is referenced in § 28-4802.01, § 28-4804.04, and § 28-4805.04. Editor's Notes Uniform Law: This section is based upon § 502 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4805.03 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter V - Allocation Of Disbursements During Administration Of Trust|§ 28-4805.03. Transfers from income to principal for depreciation

(a) For the purposes of this section, the term “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one year. (b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation: (1) Of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; (2) During the administration of a decedent’s estate; or (3) Under this section if the trustee is accounting under § 28-4804.03 for the business or activity in which the asset is used. (c) An amount transferred to principal need not be held as a separate fund.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Section References This section is referenced in § 28-4804.10. Editor's Notes Uniform Law: This section is based upon § 503 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4805.04 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter V - Allocation Of Disbursements During Administration Of Trust|§ 28-4805.04. Transfers from income to reimburse principal

(a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements. (b) Principal disbursements to which subsection (a) of this section applies include the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a third party: (1) An amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs; (2) A capital improvement to a principal asset, whether in the form of changes to an existing asset or the construction of a new asset, including special assessments; (3) Disbursements made to prepare property for rental, including tenant allowances, leasehold improvements, and broker’s commissions; (4) Periodic payments on an obligation secured by a principal asset to the extent that the amount transferred from income to principal for depreciation is less than the periodic payments; and (5) Disbursements described in § 28-4805.02(a)(7). (c) If the asset whose ownership gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a trustee may continue to transfer amounts from income to principal as provided in subsection (a) of this section.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Editor's Notes Uniform Law: This section is based upon § 504 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4805.05 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter V - Allocation Of Disbursements During Administration Of Trust|§ 28-4805.05. Income taxes

(a) A tax required to be paid by a trustee based on receipts allocated to income shall be paid from income. (b) A tax required to be paid by a trustee based on receipts allocated to principal shall be paid from principal, even if the tax is called an income tax by the taxing authority. (c) A tax required to be paid by a trustee on the trust’s share of an entity’s taxable income shall be paid: (1) From income to the extent that receipts from the entity are allocated only to income; (2) From principal to the extent that receipts from the entity are allocated only to principal; (3) Proportionately from principal and income to the extent that receipts from the entity are allocated to both income and principal; and (4) From principal to the extent that the tax exceeds the total receipts from the entity. (d) After applying subsections (a) through (c) of this section, the trustee shall adjust income or principal receipts to the extent that the trust’s taxes are reduced because the trust receives a deduction for payments made to a beneficiary.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087; July 23, 2010, D.C. Law 18-197, § 2(c), 57 DCR 4524.)  Effect of Amendments D.C. Law 18-197 rewrote subsecs. (c) and (d). Editor's Notes Uniform Law: This section is based upon § 505 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4805.06 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter V - Allocation Of Disbursements During Administration Of Trust|§ 28-4805.06. Adjustments between principal and income because of taxes

(a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (1) Elections and decisions, other than those described in subsection (b) of this section, that the fiduciary makes from time to time regarding tax matters; (2) An income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or trust; or (3) The ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary. (b) If the amount of an estate tax marital or domestic partnership deduction or charitable contribution deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes, and as a result estate taxes paid from principal are increased and income taxes paid by an estate, trust, or beneficiary are decreased, each estate, trust, or beneficiary that benefits from the decrease in income tax shall reimburse the principal from which the increase in estate tax is paid. The total reimbursement shall equal the increase in the estate tax to the extent that the principal used to pay the increase would have qualified for a marital or domestic partnership deduction or charitable contribution deduction but for the payment. The proportionate share of the reimbursement for each estate, trust, or beneficiary whose income taxes are reduced shall be the same as its proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087; Sept. 12, 2008, D.C. Law 17-231, § 26(e), 55 DCR 6758.)  Effect of Amendments D.C. Law 17-231, in subsec. (b), substituted “marital or domestic partnership” for “marital”. Editor's Notes Uniform Law: This section is based upon § 506 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4806.01 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter VI - Miscellaneous Provisions|§ 28-4806.01. Uniformity of application and construction

In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Editor's Notes Uniform Law: This section is based upon § 601 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4806.02 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter VI - Miscellaneous Provisions|§ 28-4806.02. Application of chapter to existing trusts and estates

This chapter applies to every trust or decedent’s estate existing on the effective date of this chapter [April 27, 2001] except as otherwise expressly provided in the will or terms of the trust or in this chapter.  (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)  Editor's Notes Uniform Law: This section is based upon § 605 of the Uniform Principal and Income Act (1997 Act).
DC Code § 28-4806.03 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Chapter 48 - Principal and Income; Uniform Law|Subchapter VI - Miscellaneous Provisions|§ 28-4806.03. Transitional matters

Section 28-4804.09 applies to a trust described in § 28-4804.09(d) on and after the following dates: (1) If the trust is not funded as of [July 23, 2010], the date of the decedent’s death; (2) If the trust is initially funded in the calendar year beginning January 1, 2010, the date of the decedent’s death; or (3) If the trust is not described in paragraph (1) or (2) of this section, January 1, 2010.  (July 23, 2010, D.C. Law 18-197, § 2(d), 57 DCR 4524.)
DC Code § 28A-101 (2021)
2021 District of Columbia Code|Title 28A - Other Consumer Protections|Chapter 1 - Structured Settlements Protection|Subchapter I - General|§ 28A-101. Short title

This chapter may be cited as the "Structured Settlements Protection Act of 2018".  (Mar. 13, 2019, D.C. Law 22-235, § 101, 66 DCR 580.)
DC Code § 28A-103 (2021)
2021 District of Columbia Code|Title 28A - Other Consumer Protections|Chapter 1 - Structured Settlements Protection|Subchapter I - General|§ 28A-103. Required disclosures to payee

Not fewer than 10 days before the date on which the payee signs a transfer agreement, the transferee shall provide to the payee a separate disclosure statement, in bold type no smaller than 14 points, setting forth: (1) The amounts and due dates of the structured settlement payments to .be transferred; (2) The aggregate amount of such payments; (3) The discounted present value of the payments to be transferred, which shall be identified as the "calculation of the current value of the transferred structured settlement payments under federal standards for valuing annuities", and the amount of the applicable federal rate used in calculating the discounted present value; (4) The gross advance amount; (5) An itemized listing of all applicable transfer expenses, other than attorney's fees and related disbursements payable in connection with the transferee's application for approval of the transfer, and the transferee's best estimate of the amount of any such fees and disbursements; (6) The net advance amount; (7) The effective annual interest rate, which shall be disclosed in a statement in the following form: "On the basis of the net amount that you will receive from us and the amounts and timing of the structured settlement payments that you are transferring to us, you will, in effect, be paying interest to us at a rate of ______ percent per year"; (8) The amount of any penalties or liquidated damages payable by the payee in the event of a breach of the transfer agreement by the payee; (9) That the payee has the right to cancel the transfer agreement, without penalty or further obligation, at any time before entry of a final court order approving the transfer; (10) That the purchase price offered by the transferee to the payee in return for the transfer of structured settlement payment rights is negotiable, that the payee may ask the transferee to pay an amount greater than the offered amount, and that the payee may request competing quotes from other potential transferees; and (11) That the payee has the right to seek and receive independent professional advice regarding the proposed transfer and should consider doing so before agreeing to transfer any structured settlement payment rights.  (Mar. 13, 2019, D.C. Law 22-235, § 103, 66 DCR 580.)
DC Code § 28A-104 (2021)
2021 District of Columbia Code|Title 28A - Other Consumer Protections|Chapter 1 - Structured Settlements Protection|Subchapter I - General|§ 28A-104. Procedure for approval of transfers

(a) An application for approval of a transfer shall be made by the transferee and shall be brought in the Superior Court of the District of Columbia or in another court that approved the structured settlement agreement. (b) The court shall hold a timely hearing on an application for approval of a transfer. The payee shall appear in person at the hearing unless the court determines that good cause exists to excuse the payee from appearing in person. (c)(1) Any interested party is entitled to support, oppose, or otherwise respond to the transferee's application, either in person or by counsel, by submitting written comments to the court or by participating in the hearing. (2) The deadline for interested parties to file written comments shall not be fewer than 15 days after service of the transferee's notice to that interested party. (d) Not fewer than 20 days before the scheduled hearing on any application for approval of a transfer, the transferee shall file with the court and serve on all interested parties a notice of the proposed transfer, and the application for the transfer's approval, including: (1) A copy of the transferee's application; (2) A copy of the transfer agreement; (3) A copy of the disclosure statement required by § 28A-103; (4) The payee's name, age, place of domicile and the number and ages of the payee's dependents; (5) A summary of: (A) Any prior transfers by the payee to the transferee or an affiliate, or through the transferee or an affiliate to an assignee; (B) Any proposed transfers by the payee to the transferee or an affiliate, or through the transferee or an affiliate to an assignee, for which the applications for approval were denied; and (C) To the extent that such transfers or proposed transfers have been disclosed to the transferee by the payee or otherwise are actually known to the transferee: (i) Any prior transfers by the payee to any person or entity other than the transferee or an affiliate or an assignee of the transferee or an affiliate; and (ii) Any proposed transfers by the payee to any person or entity other than the transferee or an affiliate or an assignee of a transferee or affiliate, applications for approval of which were denied; (6) A statement describing what the transferee has done to identify and obtain information, disclosure of which is required by paragraph (5)(C) of this subsection; (7) Notification that any interested party is entitled to support, oppose, or otherwise respond to the transferee's application, either in person or by counsel, by submitting written comments to the court or by participating in the hearing; and (8) Notification of the time and place of the hearing and notification of the manner in which and the time by which written comments must be filed. (e) For the purposes of this section, the term "affiliate" shall have the same meaning as provided in § 31-5601.01(2).  (Mar. 13, 2019, D.C. Law 22-235, § 104, 66 DCR 580.)