The civic record
Read. Follow. Verify.Vermont authorizes stewardship trusts for business purposes with up to 500-year duration
Last action · January 17, 2025: Read 1st time & referred to Committee on JudiciarySponsor: Thomas Chittenden
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What This Bill Would Do
This bill authorizes the creation of s in Vermont for business purposes seeking economic and noneconomic benefits, extending the maximum duration of certain noncharitable trusts from 21 years to 500 years. The measure establishes governance structures including s and a trust stewardship committee with fiduciary duties to oversee the trust, direct distributions, and manage trustees.
Business owners and settlors in Vermont gain a new legal structure to hold ownership interests in corporations, partnerships, and limited liability companies for perpetual or long-term stewardship purposes without traditional ascertainable beneficiaries, altering trustee removal powers and fiduciary oversight mechanisms.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Trust settlors
Settlors gain the ability to establish long-term stewardship trusts for business purposes lasting up to 500 years.
Trustees
Trustees are subject to directions from the trust stewardship committee and are limited in liability to cases of willful misconduct.
Trust enforcers
Trust enforcers are appointed as fiduciaries to enforce the purpose and terms of stewardship trusts.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is a stewardship trust?
Who oversees a stewardship trust?
Can a trustee also serve on the stewardship committee?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
1 action- Jan 17, 2025SenateIntroducedRead 1st time & referred to Committee on Judiciary
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Connected Entities
Sources
legislature.vermont.gov
Analysis Score
0–100- Significance65How much this matters to a regular citizen
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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