Permits the following offenses to be prosecuted at any time after their commission: (1) Rape in the first or second degree if the victim is under the age of sixteen;

(2) Rape of a child in the first, second, or third degree;

(3) Sexual misconduct with a minor in the first degree;

(4) Custodial sexual misconduct in the first degree;

(5) Child molestation in the first, second, or third degree; and

(6) Sexual exploitation of a minor.

Prohibits the following offenses from being prosecuted more than twenty years after its commission: (1) Rape in the first or second degree; and

(2) Indecent liberties.

Prohibits the offense of rape in the third degree from being prosecuted more than ten years after its commission.

Prohibits the offense of incest from being prosecuted up to ten years after its commission or, if committed against a victim under the age of eighteen, up to the victim's thirtieth birthday, whichever is later.

Revises the offense of rape in the third degree regarding the lack of consent.