IllinoisHB4436104th General Assembly (2025–2026)House

TRUST CD-VIRTUOUS TRUSTS

Sponsored By: Sponsor information unavailable

In Committee

Summary

Amends the Illinois Trust Code. Allows a virtuous trust to be created for a business or other noncharitable purpose without a definite or definitely ascertainable beneficiary. Requires a virtuous trust to be created by a written instrument. Allows a virtuous trust to hold an ownership interest of any corporation, partnership, limited partnership, cooperative, limited liability company, limited liability partnership, or joint venture. Provides that a trustee of a virtuous trust or a virtuous trust shall not be deemed to violate the trustee's duties by virtue of the trustee investing and managing the trust's assets pursuant to the terms and the purposes of the trust. Exempts a virtuous trust from the common law rule against perpetuities. Allows a virtuous trust to be enforced by one or more trust enforcers appointed in the trust instruction, and allows a virtuous trust instrument to provide for appointing successor trust enforcers. Requires a virtuous trust to have a trust purpose committee with at least 3 persons as members. Includes provisions related to the trust purpose committee, including appointment procedures, voting procedures, powers of the committee, resignation procedures, and reporting requirements. Provides that property of a virtuous trust may be applied only to its intended use. Allows the trust purpose committee and the trust enforcers to modify or terminate a virtuous trust by unanimous agreement. Prohibits a person serving as a trustee from serving as a trust enforcer or as a member of the trust purpose committee. Makes conforming changes.

judiciary - civilassignments

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

  • John F. Curran

    Affiliation unavailable

  • Kam Buckner

    Affiliation unavailable

Roll Call Votes

All Roll Calls

Yes: 126 • No: 0

House vote 4/14/2026

Third Reading - Short Debate - Passed

Yes: 108 • No: 0

House vote 3/25/2026

Do Pass / Short Debate Judiciary - Civil Committee;

Yes: 18 • No: 0

Actions Timeline

  1. Referred to Assignments

    4/28/2026Senate
  2. First Reading

    4/28/2026Senate
  3. Chief Senate Sponsor Sen. John F. Curran

    4/28/2026Senate
  4. Placed on Calendar Order of First Reading April 16, 2026

    4/15/2026Senate
  5. Arrive in Senate

    4/15/2026Senate
  6. Third Reading - Short Debate - Passed 108-000-000

    4/14/2026House
  7. Placed on Calendar Order of 3rd Reading - Short Debate

    4/7/2026House
  8. Second Reading - Short Debate

    4/7/2026House
  9. Placed on Calendar 2nd Reading - Short Debate

    3/25/2026House
  10. Do Pass / Short Debate Judiciary - Civil Committee; 018-000-000

    3/25/2026House
  11. Assigned to Judiciary - Civil Committee

    3/4/2026House
  12. Referred to Rules Committee

    1/20/2026House
  13. First Reading

    1/20/2026House
  14. Filed with the Clerk by Rep. Kam Buckner

    1/14/2026House

Bill Text

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