They had previously attempted to pass a budget that included raising the exemption to the federal estate tax level, but that budget was vetoed by the Democratic governor.

The new budget does not go quite that far in raising the exemption. However, the governor still has objections to it, which he expressed in a letter.

Nevertheless, he declined to veto the bill and signed it into law.

The governor is still asking the legislature to undo the exemption raise in an upcoming special session.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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