summary
Introduced
02/27/2025
02/27/2025
In Committee
03/04/2025
03/04/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act makes a new exemption against Oregon estate tax. (Flesch Readability Score: 61.3). Provides for an additional exemption against Oregon estate tax in order to account for inflation in the calculation of a taxable estate. Adjusts the amount of an exemption based on inflation. Allows an estate to file an amended return seeking a refund based on the operation of the exemption. Ap- plies to the estates of all decedents who die on or after January 1, 2020. Takes effect on the 91st day following adjournment sine die.
AI Summary
This bill introduces a new annual inflation-based exemption for Oregon estate tax, designed to help taxpayers keep pace with rising costs. Specifically, the Department of Revenue will calculate an additional estate tax exemption each year by comparing the Consumer Price Index (CPI) for the current year with the CPI from August 2025, multiplying $1 million by any percentage increase and then subtracting $1 million to determine the additional exemption amount. The bill allows estates of decedents who died on or after January 1, 2020, to file amended returns to claim this new exemption, with a deadline of July 1, 2026, and notably, these refunds will not accrue interest. The legislation modifies existing Oregon Revised Statutes (ORS) related to estate taxation, particularly ORS 118.010, to incorporate this new inflation-adjusted exemption into the state's tax code. The bill will take effect 91 days after the 2025 regular legislative session adjourns, and it applies retroactively to estates of decedents dying on or after January 1, 2020, providing potential tax relief for families by accounting for the diminishing value of fixed exemption amounts over time.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Referred to Revenue. (on 03/04/2025)
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/HB3844 |
| Open Government Impact Statement for HB3844 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/86810 |
| BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/HB3844/Introduced |
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