This bill amends various sections of the Minnesota Statutes related to estate taxation, specifically addressing the portability of the deceased spousal unused exclusion amount. It introduces new provisions allowing personal representatives of decedents' estates to elect portability, enabling surviving spouses to utilize the deceased spouse's unused exclusion amount. The election is irrevocable and is deemed to occur unless explicitly stated otherwise on the estate tax return. Additionally, the bill includes technical changes and removes obsolete provisions, ensuring that the estate tax return requirements are clear and up-to-date.

Key amendments include the addition of a new subdivision in section 289A.10, which outlines the election process for portability, and a new subdivision in section 289A.12 that allows personal representatives to file returns even when not required, to enable portability. The bill also modifies section 291.016 to clarify the subtraction amounts allowed in computing the Minnesota taxable estate, particularly for surviving spouses. The effective dates for these changes are set for estates of decedents dying after December 31, 2024, with some provisions taking effect the day following final enactment.

Statutes affected:
Introduction: 289A.10, 289A.12, 291.016, 291.03