An act relating to stewardship trusts

This bill creates a new type of business trust called a "stewardship trust" in Vermont, allowing owners to establish trusts for ongoing business purposes without needing a specific beneficiary. It permits these trusts to hold ownership in corporations, LLCs, and other business entities while requiring a three-member "trust stewardship committee" to manage operations, make decisions by majority vote, and report annually. The trust must pursue both economic and non-economic business goals, with the committee having authority to appoint trustees, remove officers, and direct distributions. This affects Vermont business owners seeking long-term succession planning, as it modifies trust law to provide a structured framework for business continuity beyond traditional charitable or beneficiary-based trusts.