republic-os/legislation/us/states/va/2024/sb-470.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	Uniform Statutory Rule Against Perpetuities; trusts, certain nonvested property interests.	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. This bill is identical to HB 836.	us/states/va	Virginia General Assembly	2024	SB 470	Virginia SB 470 (2024)	bill		enacted	Mark D. Obenshain	3	23	6	2024-01-09	2024-03-20	openstates	ocd-bill/9558589f-ac01-48ee-9820-5714a092cc9e	https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+SB470	3d8b5242e16c24d2a7c8ad7607e3bba0b83a8c0d13c452a6c32fb9a778018158	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-va

Virginia SB 470 (2024) — Uniform Statutory Rule Against Perpetuities; trusts, certain nonvested property interests.

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. This bill is identical to HB 836.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. CHAP0123 (committee substitute) — source
2. Prefiled and ordered printed; offered 01/10/24 24102486D (committee substitute) — source
3. SB470ER (committee substitute) — source

Votes

• Reported from Courts of Justice (15-Y 0-N) — 15–0 (pass) · upper
• Constitutional reading dispensed (40-Y 0-N) — 40–0 (pass) · upper
• Constitutional reading dispensed (39-Y 0-N) — 39–0 (pass) · upper
• Passed Senate (40-Y 0-N) — 40–0 (pass) · upper
• VOTE: Block Vote Passage (100-Y 0-N) — 99–0 (pass) · lower
• Reported from Courts of Justice (22-Y 0-N) — 22–0 (pass) · lower

Sponsors

• Mark D. Obenshain — primary (person)

Timeline

The legislative action history — every referral, reading, and vote.

• 2024-01-09 Prefiled and ordered printed; offered 01/10/24 24102486D filing, introduction
• 2024-01-09 Referred to Committee for Courts of Justice referral-committee
• 2024-02-05 Reported from Courts of Justice (15-Y 0-N) committee-passage
• 2024-02-06 Constitutional reading dispensed (39-Y 0-N)
• 2024-02-07 Read second time and engrossed reading-2
• 2024-02-07 Constitutional reading dispensed (40-Y 0-N)
• 2024-02-07 Passed Senate (40-Y 0-N) passage
• 2024-02-13 Placed on Calendar
• 2024-02-13 Read first time reading-1
• 2024-02-13 Referred to Committee for Courts of Justice referral-committee
• 2024-02-16 Reported from Courts of Justice (22-Y 0-N) committee-passage
• 2024-02-20 Read second time reading-2
• 2024-02-21 Read third time reading-3
• 2024-02-21 Passed House BLOCK VOTE (100-Y 0-N) passage
• 2024-02-21 VOTE: Block Vote Passage (100-Y 0-N) passage
• 2024-02-26 Enrolled enrolled
• 2024-02-26 Bill text as passed Senate and House (SB470ER) passage
• 2024-02-26 Signed by Speaker passage
• 2024-02-28 Signed by President passage
• 2024-03-11 Enrolled Bill Communicated to Governor on March 11, 2024 enrolled
• 2024-03-11 Governor's Action Deadline 11:59 p.m., April 8, 2024 executive-receipt
• 2024-03-20 Approved by Governor-Chapter 123 (effective 7/1/24) executive-signature
• 2024-03-20 Acts of Assembly Chapter text (CHAP0123)

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/9558589f-ac01-48ee-9820-5714a092cc9e. Confidence: reported (aggregated from official Virginia legislature records).