Oregon House Bill 3253 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on June 25 2023 - 100% progression
Action: 2023-06-25 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Creates income and corporate excise tax credits for investments in facilities used for manufacturing, siting of headquarters or research. Creates income and corporate excise tax credits for investments in facilities used for manufacturing, siting of headquarters or research. Enhances credit amount for facility that provides environmental benefit. Creates income tax credit for adding net full-time employment positions. Restores corporate excise tax credit allowed for qualified research activities and sets increased maximum credit amount. Uses tiered credit percentages based on amount of increase in qualified research expenses. Provides for refundability of credit for taxpayer with fewer than 150 employees. Increases maximum amount of alternative qualified research credit allowed to taxpayer with insufficient increase in research expenses to claim standard credit. Exempts from commercial activity subject to corporate activity tax amount of qualified research credit allowed against corporate excise tax. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2030. Extends sunsets of certain programs providing economic incentives. Appropriates moneys for deposit in Small Business Expansion Loan Fund. Takes effect on 91st day following adjournment sine die.

Relating to economic incentives; prescribing an effective date.

Rep. Janelle Bynum [D]

Date	Chamber	Action
2023-06-25	House	In committee upon adjournment.
2023-02-28	House	Referred to Economic Development and Small Business with subsequent referral to Tax Expenditures.
2023-02-21	House	First reading. Referred to Speaker's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2023R1/Measures/Overview/HB3253
Text	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/HB3253/Introduced
Supplement	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureAnalysisDocument/74346