---
type: "Bill"
title: "Relating to estate tax treatment of natural resource property; and prescribing an effective date."
description: "Allows exclusion from taxable estate for value of interest in farm, forestry or fishing business. Applies to estates of decedents dying on or after July 1, 2023."
jurisdiction: "us/states/or"
legislature: "Oregon Legislative Assembly"
session: "2023R1"
identifier: "SB 498"
citation: "Oregon SB 498 (2023R1)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Bill Hansell", "Bobby Levy", "David Brock Smith", "Kevin Mannix", "Lynn Findley"]
version_count: 5
action_count: 24
vote_count: 4
first_action: "2023-01-09T18:53:53+00:00"
last_action: "2023-07-21T18:21:19+00:00"
source: "openstates"
source_identifier: "ocd-bill/75f16a7b-229e-4e59-ac90-153d0e17ead2"
source_url: "https://olis.oregonlegislature.gov/liz/2023R1/Measures/Overview/SB498"
source_hash: "1663a0b06fefb6e210d8591376233617c488fa8512a162f5fd242fb08afd15a7"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-or"]
---

# Oregon SB 498 (2023R1) — Relating to estate tax treatment of natural resource property; and prescribing an effective date.

Allows exclusion from taxable estate for value of interest in farm, forestry or fishing business. Applies to estates of decedents dying on or after July 1, 2023.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB498/Introduced)
2. **Senate Amendments to Introduced** (filed) — [source](https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB498/Senate%20Amendments%20to%20Introduced)
3. **A-Engrossed** (committee substitute) — [source](https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB498/A-Engrossed)
4. **SFR Amendment -4** (committee substitute) — [source](https://olis.oregonlegislature.gov/liz/2023R1/Downloads/ProposedAmendment/25201)
5. **Enrolled** (enrolled) — [source](https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB498/Enrolled)

## Votes

- Third reading. Carried by Hansell. Passed. — **16–9** (pass) · upper
- Heard and Reported Out — **4–2** (pass) · lower
- Rules suspended. Third reading. Carried by Levy B, Mannix. Passed. — **35–20** (pass) · lower
- Heard and Reported Out — **4–1** (pass) · upper

## Sponsors

- Bill Hansell — primary (person)
- Bobby Levy — primary (person)
- David Brock Smith — primary (person)
- Kevin Mannix — primary (person)
- Lynn Findley — primary (person)
- Boomer Wright — cosponsor (person)
- Cedric Hayden — cosponsor (person)
- E. Werner Reschke — cosponsor (person)
- Ed Diehl — cosponsor (person)
- Fred Girod — cosponsor (person)
- Greg Smith — cosponsor (person)
- James Hieb — cosponsor (person)
- Jami Cate — cosponsor (person)
- Mark Meek — cosponsor (person)
- Shelly Boshart Davis — cosponsor (person)
- Suzanne Weber — cosponsor (person)
- Tracy Cramer — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-01-09T18:53:53+00:00** Introduction and first reading. Referred to President's desk. `introduction, reading-1, referral-committee`
- **2023-01-14T22:09:55+00:00** Referred to Finance and Revenue. `referral-committee`
- **2023-01-25T23:01:00+00:00** Public Hearing held.
- **2023-04-18T22:01:00+00:00** Public Hearing held.
- **2023-05-09T22:01:00+00:00** Informational Meeting held.
- **2023-05-31T22:02:00+00:00** Work Session held.
- **2023-06-02T21:15:24+00:00** Recommendation: Do pass with amendments. (Printed A-Eng.) `committee-passage-favorable`
- **2023-06-15T21:55:03+00:00** Second reading. `reading-2`
- **2023-06-16T19:18:31+00:00** Carried over to 06-20 by unanimous consent.
- **2023-06-20T19:19:55+00:00** Third reading. Carried by Hansell. Passed. `passage, reading-3`
- **2023-06-20T21:15:51+00:00** First reading. Referred to Speaker's desk. `introduction, reading-1, referral-committee`
- **2023-06-20T19:20:55+00:00** Vote explanation(s) filed by Anderson, Steiner.
- **2023-06-20T23:02:59+00:00** Referred to Revenue. `referral-committee`
- **2023-06-22T15:01:00+00:00** Public Hearing held.
- **2023-06-23T19:47:00+00:00** Work Session held.
- **2023-06-23T22:26:09+00:00** Recommendation: Do pass. `committee-passage-favorable`
- **2023-06-23T22:44:56+00:00** Second reading. `reading-2`
- **2023-06-23T22:53:41+00:00** Rules suspended. Third reading. Carried by Levy B, Mannix. Passed. `passage, reading-3`
- **2023-06-23T22:54:41+00:00** Vote explanation(s) filed by Andersen, Nathanson.
- **2023-06-27T18:54:47+00:00** President signed. `passage`
- **2023-06-29T18:11:08+00:00** Speaker signed. `passage`
- **2023-07-13T19:18:45+00:00** Governor signed. `executive-signature`
- **2023-07-21T18:15:41+00:00** Chapter 286, 2023 Laws.
- **2023-07-21T18:21:19+00:00** Effective date, September 24, 2023.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/75f16a7b-229e-4e59-ac90-153d0e17ead2`. Confidence: reported (aggregated from official Oregon legislature records).