Relating to the repeal of the common law rule against perpetuities by extending it to 1,000 years for all trusts

The effective date for private trust company trusts was changed from July 1, 2025 to July 1, 2023 2025 (likely a clerical error that needs correction), which would significantly alter when the 1,000-year rule applies to these trusts.

Minor formatting and header changes reflecting the document's progression from enrolled to committee substitute stage, including removal of certification signatures and addition of navigation elements.

The bill title description was slightly modified to clarify that it repeals the common law rule against perpetuities by extending it to 1,000 years for all trusts.

Minor text corrections and formatting adjustments were made throughout the document, including fixing date references and removing navigation elements.

Standard legislative certification language, signatures for clerks and officers, and effective date notation were added to the final enrolled version.

Navigation links, website footer content, and committee markup indicators were removed as they were not part of the final bill text.

The effective date for private trust company trusts was changed from July 1, 2025 to July 1, 2023, making the 1,000-year rule apply to more trusts.

The maximum duration for nonvested property interests in private trust company trusts was extended from 90 years to 1,000 years.

Minor formatting and navigation elements were removed or replaced with website interface text.