# Illinois SB0264: TRUST CD-VIRTUOUS TRUSTS

Illinois SB0264, TRUST CD-VIRTUOUS TRUSTS, is a 104th General Assembly (2025–2026) Senate bill sponsored by Robert Peters (Democratic); status in committee, last action 2025-04-11 (Rule 3-9(a) / Re-referred to Assignments) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB0264-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB0264
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: TRUST CD-VIRTUOUS TRUSTS
- Status: in committee
- Chamber: Senate
- Introduced: 2025-01-24
- Last action: 2025-04-11, Rule 3-9(a) / Re-referred to Assignments
- Sponsor: Robert Peters (Democratic)
- Cosponsors: 0
- Subjects: assignments, judiciary
- Touches household money: no
- Economic provisions PRIA read: 0

## 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.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Robert Peters (Democratic), Senate

## Actions (7)

- 2025-04-11: Rule 3-9(a) / Re-referred to Assignments (Senate)
- 2025-04-04: Rule 2-10 Committee Deadline Established As April 11, 2025 (Senate)
- 2025-03-21: Rule 2-10 Committee Deadline Established As April 4, 2025 (Senate)
- 2025-02-04: Assigned to Judiciary (Senate)
- 2025-01-24: Referred to Assignments (Senate)
- 2025-01-24: First Reading (Senate)
- 2025-01-24: Filed with Secretary by Sen. Robert Peters (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0264.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0264.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-SB0264-2025-2026 (as of 2026-11-01).