Bill
Bill > HB2058
OR HB2058
OR HB2058Relating to conforming estate tax to federal basic exclusion amount; prescribing an effective date.
summary
Introduced
01/13/2025
01/13/2025
In Committee
01/17/2025
01/17/2025
Crossed Over
Passed
Dead
06/27/2025
06/27/2025
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act would set a static, permanent match for the estate tax exemption, tied to the federal exempt amount for 2025 deaths. The Act would become law on the 91st day after sine die. (Flesch Readability Score: 65.1). Provides that, for the estates of decedents dying on or after January 1, 2026, Oregon estate tax is not due unless the value of the Oregon taxable estate exceeds $13.99 million. Raises the threshold for the filing of an estate tax return to a gross estate valued at more than $13.99 million. Takes effect on the 91st day following adjournment sine die.
AI Summary
This bill modifies Oregon's estate tax laws by establishing a static, permanent estate tax exemption of $13.99 million for decedents dying on or after January 1, 2026. Currently, estate tax is required for estates valued at $1 million or more, but this bill raises the threshold significantly. The term "sine die" refers to the final adjournment of a legislative session, and in this case, the bill will take effect 91 days after the 2025 regular session of the Oregon Legislative Assembly concludes. The bill amends Oregon Revised Statutes (ORS) 118.160 to reflect this new exemption amount and requires estate executors to continue filing returns with the Department of Revenue, providing details about property transfers, even if no tax is due. By setting the exemption at $13.99 million, the bill effectively aligns Oregon's estate tax threshold with the federal estate tax exemption for 2025, which will protect more estates from state-level taxation and provide clarity for estate planning purposes.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
In committee upon adjournment. (on 06/27/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2058 |
| Open Government Impact Statement for HB2058 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/83048 |
| BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/HB2058/Introduced |
Loading...