Section

Provision

1

Modifies the look-back period for taxable gifts that must be added to the Minnesota taxable estate.  The look-back period would apply for decedents dying after June 30, 2016 and is retroactive to decedents dying after June 30, 2013. 
 

2

Amends 2014 session law to apply to estates of decedents dying after June 30, 2013.  Under the 2014 law, language requiring the taxable estate to include the amount of taxable gifts made within three years of the decedent's date of death was repealed and added to another section of law.  This section clarifies that the repeal is effective for the look-back period proposed in the bill.  
 

3

Allows estates that have made overpayments of estate tax resulting from the changes allowed under the bill to file an amended return to claim a refund. 
 

4

Appropriates a sufficient amount from the general fund to pay the refunds authorized under section 3.
 

5

Repeals the temporary definition in 2014 session law of “taxable gift” that applied to decedents dying before January 1, 2014.  This language would no longer be necessary given the changes proposed in sections 1 and 2.