The Legacy Standard Bible (LSB), published in 2022, is a literal, formal-equivalent translation that traces its history to 1942 with the founding of The Lockman Foundation, a nonprofit corporation that promoted Christian evangelism, education, and benevolence. The Lockman Foundation published the New American Standard Version (NASB) in 1959 (a literal translation modeled after the 1901 American Standard Version) and then updated it in 1995 to remove archaic language like "thee" and "thou."
Leaders from The Lockman Foundation, Three Sixteen Publishing, and The John MacArthur Charitable Trust met in 2020 to explore the idea of revising the NASB '95 to update some of the NASB language while preserving the accuracy and trustworthiness of the translation for future generations. This would become the Legacy Standard Bible (LSB). The LSB was completed in 2021 by a team of scholars from The Master's Seminary and The Master's University, under the direction of Master's University President Abner Chau. The team worked directly from the original Hebrew, Aramaic, and Greek to modernize the NASB '95 text while preserving and honoring the LSB's predecessors. Because the Legacy Standard Bible is an update to the New American Standard Bible (1995), it is not considered a completely original translation.
Scholars worked to uphold the style and translational choices of the NASB as much as possible by making textual connections through the consistent translation of words within their various nuances, highlighting literary artistry (like alliteration), and tightening grammatical structure. This new level of precision will make what was happening in the original Hebrew, Aramaic, and Greek text clearer than ever before. If no update was needed for the LSB, scholars retained the NASB '95 text.
John MacArthur, pastor of Grace Community Church and the Christian radio and television program Grace to You teacher, watched as Bible translation trends shifted toward the reader and "away from the Author." For example, some translations were changing vocabulary to keep up with modern, colloquial expressions—and he was concerned. For MacArthur, this shift would potentially draw readers further away from the original intent of Scripture.
So MacArthur, along with Master's University President Abner Chau directing the project, alongside scholars from Master's Seminary and Master's University skilled in Greek and Hebrew who could do the translation work, the Legacy Standard Bible (LSB) translation team set to work.
Rather than assigning scholars individual sections, the team worked collectively on the entire Bible and were like-minded in the task. Then a global team tested the readability of the text with scholars, pastors, and everyday NASB readers from around the world, which helped ensure that no matter a person's age or walk of life, they would be able to engage and interact with the text with ease.
The result is a more modern translation of the NASB '95 that maintains its readability and is accurate to the original languages.
To see how this translation reads, compare Psalm 62:9–10 in the King James Version, New International Version, and English Standard Version with the Legacy Study Bible:
Psalm 62:9–10 (KJV)
Surely men of low degree are vanity, and men of high degree are a lie: to be laid in the balance, they are altogether lighter than vanity. Trust not in oppression, and become not vain in robbery: if riches increase, set not your heart upon them.
Psalm 62:9–10 (NIV)
Surely the lowborn are but a breath, the highborn are but a lie. If weighed on a balance, they are nothing; together they are only a breath. Do not trust in extortion or put vain hope in stolen goods; though your riches increase, do not set your heart on them.
Psalm 62:9–10 (ESV)
Those of low estate are but a breath; those of high estate are a delusion;in the balances they go up; they are together lighter than a breath. Put no trust in extortion; set no vain hopes on robbery; if riches increase, set not your heart on them.
Psalm 62:9–10 (LSB)
Surely men of low degree are merely vanity and men of rank are a lie; in the balances they go up; They are together lighter than a breath of vanity. Do not trust in oppression and do not put vain hope in robbery; if riches increase, do not set your heart upon them.
For more examples see here