Estate tax; general subtraction amount increased.

HF 147 increases Minnesota's estate tax general subtraction amount from $3 million to $6 million for estates of decedents dying after June 30, 2025. This change directly affects estates where the federal gross estate and adjusted taxable gifts exceed $6 million, reducing or eliminating Minnesota estate tax liability for many families. The bill amends Minnesota Statutes sections 289A.10 and 291.016 to set this new $6 million threshold, replacing the previous $3 million amount that applied to estates dying in 2020 and later. The policy change takes effect for deaths occurring after June 30, 2025.