VA HB836 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on March 8 2024 - 100% progression
Action: 2024-03-08 - Governor: Acts of Assembly Chapter text (CHAP0052)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on March 8 2024 - 100% progression
Action: 2024-03-08 - Governor: Acts of Assembly Chapter text (CHAP0052)
Text: Latest bill text (Chaptered) [HTML]
Summary
Uniform Statutory Rule Against Perpetuities; trusts; certain nonvested property interests or powers of appointment over property or property interests. Extends from 90 years to 1,000 years the period for which a nonvested property interest held in trust may vest or terminate, or for which a power of appointment over property or property interests may be exercised. The bill clarifies that such extension applies only to such interests or powers that were created on or after July 1, 2024, and that such extension does not apply to real property held in trust or a power of appointment over real property granted under a trust. The bill also provides that the current law that allows the terms of a trust instrument to provide an exception to the Uniform Statutory Rule Against Perpetuities shall apply only to a nonvested interest in or power of appointment over personal property held in trust, or a power of appointment over personal property granted under a trust, if such interest or power was created between July 1, 2000, and June 30, 2024, but shall not apply to such interests or powers created on or after July 1, 2024.
Title
Uniform Statutory Rule Against Perpetuities; trusts, certain nonvested property interests.
Sponsors
Roll Calls
2024-02-19 - Senate - Senate: Passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-16 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 2) [PASS]
2024-02-14 - Senate - Senate: Reported from Courts of Justice (9-Y 0-N) (Y: 9 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-01 - House - House: VOTE: Block Vote Passage (99-Y 0-N) (Y: 99 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-26 - House - House: Reported from Courts of Justice (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-24 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-16 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 2) [PASS]
2024-02-14 - Senate - Senate: Reported from Courts of Justice (9-Y 0-N) (Y: 9 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-01 - House - House: VOTE: Block Vote Passage (99-Y 0-N) (Y: 99 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-26 - House - House: Reported from Courts of Justice (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-24 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-08 | Governor: Acts of Assembly Chapter text (CHAP0052) | |
| 2024-03-08 | Governor: Approved by Governor-Chapter 52 (effective 7/1/24) | |
| 2024-03-01 | Governor: Governor's Action Deadline 11:59 p.m., March 8, 2024 | |
| 2024-03-01 | House | Enrolled Bill communicated to Governor on March 1, 2024 |
| 2024-02-25 | Senate | Signed by President |
| 2024-02-22 | House | Signed by Speaker |
| 2024-02-22 | House | Bill text as passed House and Senate (HB836ER) |
| 2024-02-22 | House | Enrolled |
| 2024-02-19 | Senate | Passed Senate (39-Y 0-N) |
| 2024-02-19 | Senate | Read third time |
| 2024-02-16 | Senate | Constitutional reading dispensed (38-Y 0-N) |
| 2024-02-14 | Senate | Reported from Courts of Justice (9-Y 0-N) |
| 2024-02-02 | Senate | Referred to Committee for Courts of Justice |
| 2024-02-02 | Senate | Constitutional reading dispensed |
| 2024-02-01 | House | VOTE: Block Vote Passage (99-Y 0-N) |
| 2024-02-01 | House | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
| 2024-01-31 | House | Read second time and engrossed |
| 2024-01-30 | House | Read first time |
| 2024-01-26 | House | Reported from Courts of Justice (21-Y 0-N) |
| 2024-01-24 | House | Subcommittee recommends reporting (8-Y 0-N) |
| 2024-01-23 | House | Assigned Courts sub: Civil |
| 2024-01-09 | House | Referred to Committee for Courts of Justice |
| 2024-01-09 | House | Prefiled and ordered printed; offered 01/10/24 24102441D |
Same As/Similar To
SB470 (Similar To) 2024-03-20 - Governor: Acts of Assembly Chapter text (CHAP0123)
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 55 | 1 | 124 | (n/a) | See Bill Text |
| 55 | 1 | 125 | (n/a) | See Bill Text |
| 55 | 1 | 127 | (n/a) | See Bill Text |
| 55 | 1 | 128 | (n/a) | See Bill Text |
