An act to allow certain fiduciaries to convert income trusts to unitrusts, convert express unitrusts to income trusts, and change the percentage or method used to calculate unitrust amounts.
House Bills 4033 and 4034 amend the "Uniform Statutory Rule Against Perpetuities" to extend the period for determining certain property interests from 90 to 360 years and clarifies exceptions to the rule.
Co-sponsored by Reps.
Referred to the Committee on Judiciary
Reported without amendment
Substitute H-1 offered
by
The substitute passed by voice vote
Passed in the House 106 to 0 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
