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Senate amends estate‑tax exemption to better include small woodland owners, supporters say
Summary
Senate Bill 485 dash‑2 would change the natural resource estate‑tax exemption’s participation requirement so small forest owners can qualify without daily activity records, supporters told the Finance and Revenue Committee on May 7.
Senator David Brock Smith, representing Southwest Oregon, told the Senate Committee on Finance and Revenue on May 7 that the dash‑2 amendment to Senate Bill 485 creates a separate qualification path so small woodland owners can access the natural resource estate‑tax exemption enacted in 2023.
The amendment would preserve the existing five‑year pre‑ and post‑death ownership and management continuity tests but replace a "material participation 75% of days" documentation requirement with a standard that landowners "actively manage the land with customary silvicultural activities appropriate for the age in the forest management cycle." Senator Brock Smith said the…
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