Bill > HF896

This bill makes several changes to Minnesota's estate tax provisions. It raises the estate tax exemption amount to $3 million, up from the previous ranges of $1.2 million to $3 million depending on the year. It also allows a surviving spouse to take into account the deceased spouse's "unused exclusion amount" when computing the estate tax, providing additional tax relief. The bill also modifies the estate tax rate schedule and makes the portability election for the deceased spousal unused exclusion amount irrevocable. These changes are effective for estates of decedents dying after June 30, 2022.