WALSH,T. 760 ILCS 15/3 from Ch. 30, par. 503 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. FEB-07-2002 S FIRST READING FEB-07-2002 S REFERRED TO SENATE RULES COMMITTEE RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary