[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6210277,"mediaKeyId","3720479-71af5920930265b849170749a722781c","parentId",3720479,"title","Treasury seeks new authority for real and digital unclaimed property in SB 146A","audioSeconds",384,"startMs",1075070,"endMs",1459360,"viewUrl","/Search/View?dp=1&key=3720479-71af5920930265b849170749a722781c&start=1075&end=1459","thumbnailUrl","https://assets.pipeline.soar.com/3720479-71af5920930265b849170749a722781c/thumbnail_1075070.jpg","articleUrl","/articles/6210277/Oregon/Treasury-seeks-new-authority-for-real-and-digital-unclaimed-property-in-SB-146A","mediaUrl","https://secure.pipeline.soar.com/6210277-166fc858d2ce9fde89796b0f4ee6a032/orig.mp4?Expires=1771215005&Signature=Q9sF5~dEfAPmXmDY0b5W~-2~qEkQtu-SvqgWwwR-T3BhisGEUWEWVstbrZP-FYZ26kIyf2s~WdXrnpfTU3pbhcrlllkFvY2w8Xz4wW88ghPCMqHtUQ2sPzkoleX5Se69j5alwJNXXasOFbTSYrPQE4lxFDRSUXkh~ysz2tyADtwN8WSONfeI7p8wpnp6bgChb2kVBM4ltrTIdeLSez8894Lb0wZnyKhutxfhC7HFMcwOhMwC78U~Ary5pX10c5YacoHEZHoKwxQuafy-FKJzEiNEhyGQL5vpPTRzWwUxtrN34KcVoaqMLtUUovbhsjPiVP~mdwklfdPFMbh04eQQhw__&Key-Pair-Id=KUT5TJCACFTXG","author","Oregon State Legislature","date","2025-06-04T13:30:00Z","article","Salem — Oregon State Treasury officials told the House Committee on Revenue Wednesday that Senate Bill 146A would modernize the state’s unclaimed property and issued-estates statutes to address real estate and digital assets that come into state custody.

Jessica Howell, director of government affairs for Oregon State Treasury, said the trust property program transferred to Treasury in 2021 and that the agency has seen rapid growth: ‘‘The program has brought in a total of $441,000,000 in unclaimed property since its moved to treasury. Last year alone we received more than $210,000,000.’’ Howell also said Treasury has returned $186,000,000 to owners since taking over the program and doubled annual claims from about $30,000,000 to $60,000,000.

Claudia Chobano, identified as Trust Property Director at Oregon State Treasury, said the bill addresses a statutory gap the agency discovered after receiving noncash assets, including real estate, as part of issued estates. ‘‘The issued statutes do not specifically address the treasurer’s ability to sell tangible or other real property,’’ she said, and SB 146A would clarify notice requirements, methods for delivering escheated real property to the treasurer, and the treasury’s ability to liquidate property that was not previously sold.

On the unclaimed-property side, Chobano said the bill updates definitions to ensure assets due to Oregon are reported and to narrow owner-contact definitions so only truly unclaimed assets are remitted. The bill would also define and create custody rules for digital assets. ‘‘We are gonna treat them the way we treat securities and follow the same process to take them into custody, keep them for a while, look for owners, and only sell them after a certain period of time and when it makes sense to maximize the value, for those owners,’’ Chobano said.

Chobano also explained a reporting change: the bill would remove the reporting aggregation option for items valued under $50, a practice that had helped businesses when recordkeeping was paper-based. Removing aggregation would require underlying data — names, last known addresses, and amounts — that Treasury says is necessary to reunite owners with property.

Committee members and one lawmaker praised the agency’s work. Representative [name not specified in transcript] noted proactive returns and encouraged colleagues to work with Treasury to locate constituents’ unclaimed funds. The committee closed the public hearing on SB 146A after the scheduled witnesses testified; no committee vote or amendment was recorded at that time.

Background: Treasury staff said the trust property program moved from the Department of State Lands in 2021 and that the bill is intended to align statute with current practice, national trends, and digital-asset developments.

","mediaType","Video","parentTitle","House Committee On Revenue 06/04/2025 1:30 PM","oneSentenceSummary","Salem — Oregon State Treasury officials told the House Committee on Revenue Wednesday that Senate Bill 146A would modernize the state’s unclaimed property and issued-estates statutes to address real estate and digital assets that come into state custody.","taxTitle","Revenue, House of Representatives, Committees, Legislative, Oregon","taxId",18093,"location","Oregon","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6210281,"Committee hears bill to adjust estate-tax exemption for small forest land owners",995,52115,1047750,"/Search/View?dp=1&key=3720479-71af5920930265b849170749a722781c&start=52&end=1047","https://assets.pipeline.soar.com/3720479-71af5920930265b849170749a722781c/thumbnail_52115.jpg","/articles/6210281/Oregon/Committee-hears-bill-to-adjust-estate-tax-exemption-for-small-forest-land-owners","https://secure.pipeline.soar.com/6210281-4a10875f7166cacda3ae61fcc7cea0df/orig.mp4?Expires=1771215005&Signature=JS-D0qhbNkpW5e36rujQfQtSz5Hrthbg8KeULsBgTkDRXqjjW~Mr1gNUt-xpWgitZWTZEPWkQlU~W5GnwM~t~GHQhoLETc-kYnuMNIODQahe3Y4I2hmjwxz057XFx8jv0RYPL7SHtHMxwbgMP5LZY4lQ9NviZw9Wg2kadg4IncPutOcBPWHxYNN8fKqidvvpzZRAxGG23cq4iuoMWAmNO~ONotc8ujCq18I9iF76-U6~2MhgeB9rnl3VTDW62BpGzS6pis7J7TLfsBlUo1304pnM-cS7bOCJ2ZSsCYrnON83w3C1pCzW4KO0698HHLQJSzEkFiw4joOUVX~Uj43xug__&Key-Pair-Id=KUT5TJCACFTXG","Salem — The House Committee on Revenue opened a public hearing Wednesday on Senate Bill 485A, which would revise the natural resource estate tax exemption to clarify how small family forest owners document and qualify their land for the exemption.

The bill, which sponsors described as a technical fix to 2023 changes, would limit the exemption to forest land parcels between 10 and 5,000 acres that were held and managed by the decedent or a family member for at least five years before the decedent’s death and held and managed by a family member for five years after the date of death. It would require documentation ‘‘of management activities that are appropriate or customary for qualified forest land parcels’’ and apply to estates of decedents who die on or after Jan. 1, 2026.

Supporters said the change is meant to reflect the long, cyclical nature of forestry and to prevent forced sales of family forests to cover estate taxes. Representative Darcy Edwards, who testified in support, said the bill ‘‘fixes that’’ gap in current law and urged the committee to support family forest owners. Senator David Brock Smith, who helped lead the 2023 legislation, described SB 485A as a needed technical correction: ‘‘this bill came off the floor unanimously because we needed some technical fixes, which is what this bill does to the forestry side of things.’’

Gordon Culbertson, president of the Oregon Small Woodlands Association, said family forests face unique management cycles and added that ‘‘language defining the requirement for material participation is a difficult hurdle for small forest owners.’’ Nicole Mann, also testifying for the association, explained the change to the material-participation standard and said the bill replaces the 75%-of-days test with a standard that recognizes ‘‘actively managing the land appropriate or customary with silviculture management activities.’’

Clint Bence, a certified public accountant who worked on the natural resource credit rules, said the existing 75%-of-days or day-by-day documentation requirement is administratively difficult for woodland owners and that the bill aligns the standard with how participation is treated for income-tax purposes. ‘‘This one says, we’re gonna materially participate for the year,’’ Bence said, explaining the intended change in documentation and administration.

Not all testimony supported the bill as drafted. Jody Weiser, testifying for Tax Fairness of Oregon, questioned why the 75% provision existed at all and urged removing it rather than redefining it. He also raised concerns about the size threshold for qualifying forest land and suggested the current lower bound of 10 acres is ‘‘unreasonably small’’ to constitute a forest business.

Committee members limited public testimony to two minutes and closed the public hearing on SB 485A after the scheduled speakers finished. No formal committee action on the bill was taken at the hearing; further committee consideration and any amendments would occur in later business.

Background: testifiers referenced changes made by the 2023 Legislature to natural resource exemptions and identified SB 485A as addressing implementation and documentation issues that emerged after that law.

","The House Committee on Revenue held a public hearing June 4 on Senate Bill 485A, which would revise qualification rules for the natural resource estate tax exemption for small family forest owners, clarifying documentation and participation requirements and setting effective dates.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6210271,"Committee adopts amendment removing taxation from nicotine bill and advances measure to the floor",373,1528595,1902260,"/Search/View?dp=1&key=3720479-71af5920930265b849170749a722781c&start=1528&end=1902","https://assets.pipeline.soar.com/3720479-71af5920930265b849170749a722781c/thumbnail_1528595.jpg","/articles/6210271/Oregon/Committee-adopts-amendment-removing-taxation-from-nicotine-bill-and-advances-measure-to-the-floor","https://secure.pipeline.soar.com/6210271-c532a5c4b8624e42d6a6b5c67f5bfa2e/orig.mp4?Expires=1771215005&Signature=RyOY-q8eseTXjYJisNCxA17PuI8FByEn0FQ1-lbLEfvFYJULJFSt8MKhhgc0PyFRs7~6lPwobBHXxixqraHGqdoOGX4O1C~kU9Sec75c0Oul06CBtHEdIiV9FLLXecM6~frVKf5~mcowapwROrNbvlv05NMmQtb5KfZicrZuUxWao7I0Mq4SMJROyKWKwLm034U15waS4v0qRLS-vjPzrIyFS4O6g~sGzPKe1T40gGfOH32qK-35VcyA~TpdWqktmMj6a8dGxMpNNv09LCN5pmiDdW3BQjo5YTv5ztUB9skdssLYovsrNZ-FKAqrJl2~gklp19h5zQYkQAfVKtq1NA__&Key-Pair-Id=KUT5TJCACFTXG","Salem — The House Committee on Revenue on Wednesday advanced House Bill 2528A after adopting an amendment that removed taxation provisions and retained regulatory language covering nicotine derived from any source.

A committee staff presenter summarized the measure and the posted amendments, explaining that the bill ‘‘adds nicotine derived from any source to the definition of tobacco products for both regulation and taxation purposes’’ but that the dash-3 amendment ‘‘removed, retains the regulation components of 2528A, but removes the taxation component.’’ The amendment was moved by Vice Chair Walters and the committee adopted it without recorded opposition.

The bill also had other posted amendments: an A4 related to Oregon Health Authority rulemaking authority; an A5 replacing penalties in rule with a statutory schedule; and an A6 clarifying that tobacco products do not include foods containing trace amounts of naturally occurring nicotine. Representative Reschke said he had dropped an A7 amendment proposing container taxes on nicotine pouches and said he would vote no on the bill in its present form, arguing he preferred additional amendments limiting rulemaking authority and specifying penalties.

After adopting the dash-3 amendment, Vice Chair Walters moved the bill as amended to the House floor with a due-pass recommendation and to rescind the subsequent referral to the Joint Committee on Ways and Means. The committee conducted a roll-call vote and the motion passed. The transcript recorded these votes: Rep. Marsh — Aye; Rep. Smith — Aye; Rep. Rushdie — No; Judge Walters — Aye; Chair Nathanson — Aye. Rep. Heade was recorded as excused.

Representative Hudson was assigned as the bill carrier to carry the measure to the floor. The committee closed the work session on HB 2528A and adjourned for the day.

","During a June 4 work session, the House Committee on Revenue adopted a dash-3 amendment to House Bill 2528A that keeps regulation of nicotine-derived products but removes taxation provisions; the committee then voted to send the bill as amended to the floor with a due-pass recommendation and rescinded subsequent referral to Ways and Means.","actionData","errors"]

Article not found

Treasury seeks new authority for real and digital unclaimed property in SB 146A

Committee hears bill to adjust estate-tax exemption for small forest land owners

Committee adopts amendment removing taxation from nicotine bill and advances measure to the floor