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Bill > SB648
OR SB648
OR SB648Relating 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 match the estate tax exemption to the federal amount. (Flesch Readabil- ity Score: 67.7). 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 $13.61 million. Raises the threshold for the filing of an estate tax return to a gross estate valued at more than $13.61 million. Takes effect on the 91st day following adjournment sine die.
AI Summary
This bill updates Oregon's estate tax laws to align with the federal basic exclusion amount, effectively raising the threshold for estate tax liability. Starting January 1, 2026, estate tax will only be due for estates valued over $13.61 million, which is a significant increase from the previous $1 million threshold. This means that fewer estates will be subject to state estate tax, providing greater tax relief for higher-value estates. The bill also modifies the requirement for filing an estate tax return, stipulating that returns are only necessary for gross estates exceeding $13.61 million. Additionally, the bill specifies that it will take effect 91 days after the adjournment of the 2025 regular session of the Oregon Legislative Assembly. By conforming the state estate tax exemption to the federal level, the legislation aims to reduce the tax burden on larger estates and simplify estate tax compliance for Oregon residents.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
In committee upon adjournment. (on 06/27/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB648 |
| SB 648 (Witness Registration) | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/290572 |
| SB 648 Preliminary SMS | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/289854 |
| Open Government Impact Statement for SB648 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/84842 |
| BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/SB648/Introduced |
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