Public Act 149 of 2008

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• Introduced by Rep. Tonya Schuitmaker (R) on April 17, 2007, to exempt personal property held in certain trusts from the law against "perpetuities.” "Perpetuities" is a legal doctrine intended to prevent assets from being tied-up in long-term family or "dynasty" trusts. However, the law has the effect of causing trusts to be set up in other states.
  • Referred to the House Judiciary Committee on April 17, 2007.
    • Reported in the House on March 19, 2008, with the recommendation that the substitute (H-2) be adopted and that the bill then pass.
  • Substitute offered in the House on March 20, 2008, to replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. The substitute passed by voice vote in the House on March 20, 2008.
• Passed 104 to 4 in the House on March 20, 2008.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on March 25, 2008.
  • Referred to the Senate Judiciary Committee on March 25, 2008.
    • Reported in the Senate on May 7, 2008, with the recommendation that the bill pass.
• Passed 38 to 0 in the Senate on May 15, 2008, to exempt personal property held in certain trusts from the law against "perpetuities.” "Perpetuities" is a legal doctrine intended to prevent assets from being tied-up in long-term family or "dynasty" trusts. However, the law has the effect of causing trusts to be set up in other states.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on May 28, 2008.