Committee Hears Targeted Fixes to 2023 Natural-Resource Estate Exemption
House Bill 3,630 would clarify and broaden the natural-resource exemption enacted in 2023 (SB 498) by allowing trusts and family businesses to qualify, adjusting look-back/look-forward rules, allowing replacement property in exchanges, and excluding qualified property from certain tax-ratio calculations.
The full story
The House Committee on Revenue opened testimony April 3 on House Bill 3,630, which proposes technical and substantive clarifications to Oregon’s natural-resource estate exemption created by Senate Bill 498 in 2023. Sponsors and witnesses described the measure as a "shakedown cruise" fix to address implementation gaps and uncertainty that emerged after SB 498 took effect.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.