HB3630
Modifies exemption from the taxable estate for the value of natural resource property to accommodate interests owned through a trust or business entity.
Bill record
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Official record
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Read the official summary
Digest: The Act would make it so estates would not pay estate tax for farm, forestry or fishing interests that are owned by trusts and businesses. (Flesch Readability Score: 63.0). Modifies exemption from the taxable estate for the value of natural resource property to accommodate interests owned through a trust or business entity. Adds detail to look-back and look-forward provisions as applicable to entities. Allows for replacement property. Applies to estates of decedents dying on or after July 1, 2025. Takes effect on the 91st day following adjournment sine die. Relating to: Relating to estate tax treatment of natural resource property; and prescribing an effective date. Current location: Chapter Number Assigned
Official activity
Bill history
- Chapter 577, (2025 Laws): Effective date September 26, 2025.House
- Governor signed.House
- Speaker signed.House
- President signed.Senate
- Recommendation: Do pass.Senate
- Second reading.Senate
- Rules suspended. Third reading. Carried by Bonham. Passed. Ayes, 19; Nays, 10--Campos, Golden, Manning Jr, Meek, Neron Misslin, Patterson, Pham, Prozanski, Reynolds, Taylor; Excused, 1--Thatcher.Senate
- Work Session held.Senate
- Public Hearing held.Senate
- Third reading. Carried by Mannix. Passed. Ayes, 53; Excused, 6--Boshart Davis, Evans, McIntire, Nguyen H, Owens, Wallan; Excused for Business of the House, 1--Sosa.House
- First reading. Referred to President's desk.Senate
- Referred to Rules.Senate
- Rules suspended. Carried over to June 19, 2025 Calendar.House
- Second reading.House
- Recommendation: Do pass.House
- Work Session held.House
- Public Hearing held.House
- Referred to Revenue.House
- First reading. Referred to Speaker's desk.House