The Trustees enacted Resolution 2009-20 to alleviate concerns expressed by the RNC Deputy Chief Counsel.   The attorney expressed concerns that the annual “basis” required to be distributed annually by the Trustees to all beneficiaries under the Internal Revenue Code, 26 U.S.C. § 643(e),  would be bumped up from the estimated $48 per year based on the total 404,890 beneficiaries, to an untold amount based on actual users of the Trust Property, thus exposing the basis’ risk as an in-kind contribution to exceed the FECA’s current $2,400 contribution limit.  (Of course, the illogical conclusion of such reasoning is tha only 16,000 precinct committee people or 3.9% of all Republicans, would use Republican All in One).  However, to fully provide what is a restatement of Pennsylvania law, the Trustees modified the Trust Agreement’s definition of “Republican Committee” at Art. II, ¶ 29(C) and “elected member” at Art. II, ¶ 29(I) to fully assure that the equitable interests attach to the office and not any individual, as is clearly expressed by the wording “members chosen by the electorate in a primary, election or by caucus or convention by popular vote for a term definite and tenure certain; and of which said powers, duties, and emoluments become vested in a successor when the office becomes vacant.”  To read the full text click here for Resolution 2009-20.  As a result, the Trustees are now confident that the RNC Deputy Chief Counsel has exhausted all legitimate concerns.