SENATOR TAYLOR brought HB 316 RULE (AGAINST PERPETUITIES) before the committee as the final order of business. TIM BENINTENDI, staff to Representative Carl Moses, explained this law deals with issues relating to the inheritance of property and identifying persons who may eventually have an interest in that property. It is also designed to prevent unreasonably long lasting restrictions on the disposal of property. Alaska's current statute was last updated in 1983, and passage of HB 316 will simplify the administration of estates and trusts, as well as reducing perpetuity litigation. Number 435 ART PETERSON, a Uniform Law Commissioner for the State of Alaska, stated his support for HB 316. He said the legislation offers the "third generation" of statutory attempts to improve the common law of rule. Alaska has on the books the "second generation" version, and it has created its own kinds of problems. Number 530 SENATOR JACKO moved that HB 316 be passed out of committee with individual recommendations. Hearing no objection, it was so ordered.