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• Introduced by Rep. Tonya Schuitmaker (R) on October 15, 2008, to exempt real 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 had the effect of causing trusts to be set up in other states.
  • Referred to the House Judiciary Committee on October 15, 2008.
    • Reported in the House on December 2, 2008, with the recommendation that the substitute (H-3) be adopted and that the bill then pass.
    • Substitute offered in the House on December 3, 2008, to replace the previous version of the bill with one that revises details of the perpetual trust law passed several months earlier, but which does not expand the scope of that law to include real property. This version was subsequently superseded by another substitute with more changes . The substitute failed in the House by voice vote on December 3, 2008.
    • Substitute offered by Rep. Tonya Schuitmaker (R) on December 3, 2008, to replace the previous version of the bill with one that revises details of the perpetual trust law passed several months earlier, but which does not expand the scope of that law to include real property. The substitute passed in the House by voice vote on December 3, 2008.
    • Amendment offered by Rep. Tonya Schuitmaker (R) on December 3, 2008, to establish a new date on which the bill will go into effect. The amendment passed in the House by voice vote on December 3, 2008.
• Passed in the House (103 to 3) on December 3, 2008, to refine a detail of the new law that allowed for the creation of perpetual trusts involving personal property, so that the new law does what was intended. See House Fiscal Agency analysis for details. [Vote Details and Comments]
• Received in the Senate on December 4, 2008.
  • Referred to the Senate Judiciary Committee on December 4, 2008.
    • Reported in the Senate on December 19, 2008, with the recommendation that the bill pass.