Bill > SF1221

This bill proposes to establish portability of the deceased spousal unused estate tax exclusion amount in Minnesota. It amends several sections of the Minnesota Statutes to allow a decedent's surviving spouse to take into account the decedent's deceased spousal unused exclusion amount when computing the Minnesota taxable estate. The bill also increases the estate tax exclusion amount to $3 million and makes other changes to the estate tax calculation. The provisions of this bill would be effective for estates of decedents dying after June 30, 2022.