HF170

HF170 (Legislative Session 94 (2025-2026))

Ten-year phaseout of the estate tax provided.

Related bill: SF953

AI Generated Summary

This bill proposes the gradual elimination of Minnesota's estate tax over a ten-year period. It adjusts the tax rates and brackets applying to estates starting in 2025, with annual reductions in both tax rates and bracket amounts until all rates are zeroed out by 2034. Essentially, if the bill is passed, the estate tax in Minnesota will decrease each year until it is completely phased out.

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
February 09, 2025	House	Floor	Action	Introduction and first reading, referred to	Taxes
February 09, 2025	House	Floor	Action	Introduction and first reading, referred to	Taxes
February 12, 2025	House	Floor	Action	Author added
February 16, 2025	House	Floor	Action	Author added
March 02, 2025	House	Floor	Action	Author added

Citations

[
  {
    "analysis": {
      "added": [
        "A new provision for rate reduction starting July 1, 2025."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill modifies the estate tax for estates under section 291.03.",
      "modified": [
        "Adjusts the tax schedule for estates of decedents dying in 2017 and thereafter."
      ]
    },
    "citation": "291.03",
    "subdivision": "subdivision 1"
  },
  {
    "analysis": {
      "added": [
        ""
      ],
      "removed": [
        ""
      ],
      "summary": "This references changes related to the computation of the Minnesota taxable estate under section 291.016.",
      "modified": [
        "Incorporates value of gifts into numerator and denominator calculations for tax computation."
      ]
    },
    "citation": "291.016",
    "subdivision": "subdivision 2"
  }
]