Sec. 2. 18-B MRSA §103, sub-§1-A is enacted to read:

1-A.__Ascertainable standard.__"Ascertainable standard" means an ascertainable standard relating to an individual's health, education, support or maintenance within the meaning of Section 2041(b)(1)(A) or Section 2514(c)(1) of the federal Internal Revenue Code of 1986, as in effect on July 1, 2005.

Sec. 3. 18-B MRSA §103, sub-§10, as enacted by PL 2003, c. 618, Pt. A, §1 and affected by §2, is amended to read:

10. Power of withdrawal. "Power of withdrawal" means a presently exercisable general power of appointment other than a power exercisable by a trustee that is limited by an ascertainable standard, or exercisable by another person only upon consent of the trustee or a person holding an adverse interest.

Sec. 4. 18-B MRSA §103, sub-§12, as enacted by PL 2003, c. 618, Pt. A, §1 and affected by §2, is amended to read:

12. Qualified beneficiary. "Qualified beneficiary" means a living beneficiary who on the date the beneficiary's qualification is determined:

A. Is a distributee or permissible distributee of trust income or principal;

B. Would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in paragraph A terminated on that date, but the termination of those interests would not cause the trust to terminate; or

C. Would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

"Qualified beneficiary" does not include a contingent distributee or a contingent permissible distributee of trust income or principal whose interest in the trust is not reasonably expected to vest.

Sec. 5. 18-B MRSA §105, sub-§2, ¶¶H and I, as enacted by PL 2003, c. 618, Pt. A, §1 and affected by §2, are amended to read: