Relating to higher education funding; prescribing an effective date.

Increases threshold for filing of estate tax return and for liability for estate tax. Requires person receiving property from decedent to use decedent's basis in property, not "stepped up" basis. Applies to estates of decedents dying on or after January 1, 2020. Transfers amount equal to estimated increase in revenue attributable to amendments to statutes to Higher Education Coordinating Commission for allocation to public universities and for funding of Oregon Opportunity Grants. Provides for distribution to Public Employees Retirement System for deposit in School Districts Unfunded Liability Fund, in lieu of transfer to university, if university increases resident tuition rates by percentage exceeding inflation plus two percent in either of two immediately preceding academic years. Takes effect on 91st day following adjournment sine die.