AI Generated Summary
Senate Bill 938 is a proposed law in Minnesota focusing on estate taxation. The main change in this bill is to increase the exemption amount for Minnesota's estate tax. This means, starting from the year 2020, the threshold at which estate tax begins to be owed for a deceased person's estate would rise from $3,000,000 to $6,000,000. Essentially, if the total value of the estate at the time of death exceeds this new amount, only then would a Minnesota estate tax return need to be filed. The bill adjusts previously set exemption amounts for earlier years and outlines the requirements for the estate tax return process.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 02, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 02, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill involves amendments to Minnesota Statutes section 289A.10 regarding estate tax return requirements.",
"modified": [
"Adjusts the estate value thresholds for requiring the submission of a Minnesota estate tax return."
]
},
"citation": "289A.10"
}
]