Relating to exclusions from estate tax; prescribing an effective date.

HB 3737 creates a new $4 million exclusion for Oregon's estate tax, in addition to existing exclusions. It applies to estates of decedents dying on or after January 1, 2026, directly affecting Oregon residents and non-residents owning property in Oregon. The exclusion amount will automatically adjust annually for inflation starting January 1, 2027, based on the U.S. Consumer Price Index. The bill takes effect 91 days after the 2025 legislative session concludes, modifying how Oregon calculates taxable estate for tax purposes.