MN SF3365

Amends Minnesota Statutes section 289A.10 to simplify the federal gross estate thresholds for requiring Minnesota estate tax returns, setting a uniform threshold of $1,000,000 for all estates of decedents dying after December 31, 2005.

Updates the definition of "Internal Revenue Code" in section 291.005 to reference the code as amended through March 31, 2009, while excluding provisions of sections 501 and 901 of Public Law 107-16.

Clarifies that "federal gross estate" is valued and determined for federal estate tax purposes under the Internal Revenue Code.

Creates new statute section 524.2-712 providing rules of construction for wills and trusts of decedents dying between December 31, 2009, and January 1, 2011, that reference federal tax terms or exemptions; deems such references to apply to federal law as it existed on December 31, 2009, unless the governing instrument manifests contrary intent.

Allows personal representatives, trustees, or interested persons to bring proceedings by December 31, 2011, to determine if the decedent intended different treatment under post-2009 federal law.