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They are the same thing, except PL is Motorola's name for it (Private Line). It is a tone transmitted below voice frequencies which allows only other radios set to the same tone to receive transmissions (seperates user groups on the same channel, giving the illusion of "privacy", and reduces other types of intereference).
Actually, it's "Continuous Tone Coded Squelch System".
Most manufacturers have their own name for that generic term.
Motorola = Private Line, GE = Channel Guard, Etc.
There is also CDCSS (Continuous Digital Coded Squelch System). Most manufacturers just add a D to the front of their trademarked name - such as Digital Private Line or DPL.