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79R8547 AJA-D

By:  Eiland                                                     H.J.R. No. 75 



A JOINT RESOLUTION

proposing a constitutional amendment allowing the legislature to 
authorize the creation of perpetual trusts.
	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:                       
	SECTION 1.  Section 26, Article I, Texas Constitution, is 
amended to read as follows:
	Sec. 26.  (a) Perpetuities, other than perpetuities 
authorized as provided by Subsection (b) of this section, and 
monopolies are contrary to the genius of a free government, and 
shall never be allowed, nor shall the law of primogeniture or 
entailments ever be in force in this State.  
	(b)  The legislature may enact a law providing that the rule 
against perpetuities does not apply to a trust.
	SECTION 2.  This proposed constitutional amendment shall be 
submitted to the voters at an election to be held November 8, 2005.  
The ballot shall be printed to permit voting for or against the 
proposition:  "A constitutional amendment to allow the legislature 
to enact laws authorizing the creation of perpetual trusts."