Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Hearing on HB 2,362 Seeks $1.5 Million Additional Estate Exemption Phased Out by $8.5M
Summary
House Bill 2,362 would add a $1.5 million additional exemption to Oregon's estate tax for estates under $4.5 million and then phase that additional exemption down to zero for estates of $8.5 million or more; proponents said the change would protect family farms and small businesses from forced sales.
The House Committee on Revenue heard testimony April 3 on House Bill 2,362, which would add a supplemental estate-tax exemption of $1,500,000 for estates with taxable value up to $4,500,000 and then phase that additional exemption down to zero for estates with taxable value at $8,500,000 or more. The bill would leave Oregon’s current base exclusion ($1,000,000) in place.
Representative Bobby Levy (R-House District 58) testified in strong support, saying many rural households and family businesses are…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
