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Heated testimony on SB 1511: dash‑3 would raise exemption and higher rates for largest estates
Summary
LRO explained dash‑3 to SB 1511 would exempt estates under $2.5M, phase in taxes between $2.5M and $3.0M, and raise rates for larger estates; business groups warned of competitiveness and legal risk while unions and tax‑fairness advocates urged maintaining revenue for services.
The committee heard an extensive public hearing on Senate Bill 1511, which the Legislative Revenue Office presented with a dash‑3 amendment that restructures Oregon’s estate tax. John (LRO) described a three‑segment approach: estates under $2.5 million would owe no tax, estates between $2.5 million and $3.0 million would pay a phased‑in share (20% of the table per $100,000 increment), and estates above $3.0 million would be calculated with higher rates intended to keep the change roughly revenue neutral in initial years. The $2.5 million threshold would be…
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