Public Act 148 of 2008

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• Introduced by Rep. Andy Meisner (D) on March 18, 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.
  • Referred to the House Judiciary Committee on March 18, 2008.
    • Reported in the House on March 19, 2008, with the recommendation that the amendment be adopted and that the bill then pass.
  • Amendment offered in the House on April 8, 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 amendment passed by voice vote in the House on April 8, 2008.
• Passed 106 to 0 in the House on April 8, 2008.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on April 15, 2008.
  • Referred to the Senate Judiciary Committee on April 15, 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.