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SB485 • 2025

Modifies the exemption from taxable estate for the value of natural resource property as applicable to forestland.

Modifies the exemption from taxable estate for the value of natural resource property as applicable to forestland.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Senator Smith DB,, Meek,, Representative Edwards,, Osborne, Senator Hayden,, Representative Diehl,, Harbick,, Levy B,, Mannix,, Reschke,, Scharf,
Last action
2025-08-08
Official status
Chapter Number Assigned
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2025-08-08 Senate

    Chapter 595, 2025 Laws.

  2. 2025-08-08 Senate

    Effective date, September 26, 2025.

  3. 2025-07-24 Senate

    Governor signed.

  4. 2025-06-20 Senate

    President signed.

  5. 2025-06-20 House

    Speaker signed.

  6. 2025-06-19 House

    Potential conflict(s) of interest declared by Edwards.

  7. 2025-06-19 House

    Third reading. Carried by Osborne. Passed. Ayes, 52; Excused, 5--Boshart Davis, Evans, Nguyen H, Owens, Wallan; Excused for Business of the House, 3--Diehl, Yunker, Speaker Fahey.

  8. 2025-06-18 House

    Rules suspended. Carried over to June 19, 2025 Calendar.

  9. 2025-06-17 House

    Second reading.

  10. 2025-06-16 House

    Recommendation: Do pass.

  11. 2025-06-13 House

    Work Session held.

  12. 2025-06-04 House

    Public Hearing held.

  13. 2025-05-22 House

    Referred to Revenue.

  14. 2025-05-21 House

    First reading. Referred to Speaker's desk.

  15. 2025-05-20 Senate

    Third reading. Carried by Smith DB. Passed. Ayes, 29; Excused, 1--Anderson.

  16. 2025-05-19 Senate

    Second reading.

  17. 2025-05-16 Senate

    Recommendation: Do pass with amendments. (Printed A-Eng.)

  18. 2025-05-12 Senate

    Work Session held.

  19. 2025-05-07 Senate

    Public Hearing held.

  20. 2025-01-17 Senate

    Referred to Finance and Revenue.

  21. 2025-01-13 Senate

    Introduction and first reading. Referred to President's desk.

Official Summary Text

<b>Digest: The Act would expand the conditions under which small forestlands are exempt from estate tax. (Flesch Readability Score: 61.8).</b>
[<i>Digest: The Act would repeal the estate tax. (Flesch Readability Score: 90.9).</i>]
[<i>Provides that the Oregon estate tax is imposed only on the estates of decedents dying on or before January 1, 2025.</i>]
<b>Modifies the exemption from taxable estate for the value of natural resource property as applicable to forestland. Limits the exemption to small forestland owners and allows an exemption based on active management appropriate for the current phase of the forest management cycle.
Applies to estates of decedents dying on or after January 1, 2026.</b>
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to estate tax; and prescribing an effective date.
Current location: Chapter Number Assigned