would not apply to income from a trust that is liquidated before June 1, 2014. Comments. This proposed legislation reflects recommendations from the Trusts and Estates section of the New York Bar Association that were included in the November 2013 report from the Tax Reform and Fairness Commission. According to the

ture capital companies, hedge funds and other private investment vehicles ° Insurance companies ° Foundations ° Institutions of higher learning ° Trusts and estates e Funds and similar entities that own shares or units of, or other portfolio equity interests in, a foreign related or non-related entity Form SHC i