Bill > HF3507

This bill modifies the Minnesota estate tax in several ways: 1. It increases the estate tax exemption amount from $3 million to a flat $3 million for all estates, regardless of the year of the decedent's death. 2. It allows a surviving spouse to claim the deceased spouse's unused estate tax exemption (known as "spousal portability"). This allows the surviving spouse to effectively double the exemption amount. 3. It makes various conforming and technical changes to the estate tax statutes, including provisions related to filing estate tax returns and the calculation of the estate tax. The effective dates for these changes range from the day following final enactment to estates of decedents dying after June 30, 2022.