This bill updates the inflation adjustment for the estate tax exclusion amount in Washington State by amending RCW 83.100.020. The applicable exclusion amount is set at $2,193,000 for estates of decedents dying before January 1, 2026. For estates of decedents dying in calendar year 2026 and each subsequent year, the exclusion amount will be adjusted annually based on the consumer price index, specifically the October index for the Seattle metropolitan area. The bill also clarifies that no adjustment will be made if it results in the same or a lesser exclusion amount than the previous year.

Additionally, the bill includes a new section stating that RCW 82.32.805 and 82.32.808 do not apply to this act, indicating that certain existing laws regarding tax administration will not affect the implementation of this updated estate tax exclusion. The bill aims to ensure that the estate tax exclusion remains relevant and reflective of inflationary changes over time.