OR HB4007 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 13-4-1)
Status: Failed on March 7 2024 - 100% progression
Action: 2024-03-07 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Spectrum: Slight Partisan Bill (Republican 13-4-1)
Status: Failed on March 7 2024 - 100% progression
Action: 2024-03-07 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Summary
Exempts awards from and legal fees paid in wildfire suits from income tax. (Flesch Readability Score: 76.5). Creates an Oregon tax subtraction for amounts received in settlement of civil actions arising from wildfire. [Allows] Creates an Oregon [itemized deduction] tax subtraction for wildfire-related legal fees paid by plaintiffs. Allows taxpayer to amend return to claim refund for earliest tax year in which a subtraction is allowed. Applies to wildfire emergency declarations and executive orders issued on or after January 1, 2018, and before January 1, 2026, and to amounts received, losses incurred and legal fees paid in all tax years beginning on or after January 1, [2020] 2018. Takes effect on the 91st day following adjournment sine die.
Title
Relating to tax treatment of wildfire litigation; prescribing an effective date.
Sponsors
| Rep. Jami Cate [R] | Rep. Cyrus Javadi [R] | Rep. Bobby Levy [R] | Rep. David Gomberg [D] |
| Rep. Christine Goodwin [R] | Sen. Mark Meek [D] | Sen. David Smith [R] | Rep. Court Boice [R] |
| Rep. Charlie Conrad [I] | Rep. Ed Diehl [R] | Rep. Zach Hudson [D] | Rep. Kevin Mannix [R] |
| Rep. Pam Marsh [D] | Rep. Mark Owens [R] | Rep. Werner Reschke [R] | Rep. Brian Stout [R] |
| Rep. Boomer Wright [R] | Sen. Tim Knopp [R] |
Roll Calls
2024-03-05 - House - House Third Reading (Y: 56 N: 0 NV: 0 Abs: 4) [PASS]
2024-03-04 - House - House Committee Do pass with amendments. (Printed A-Eng.) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-04 - House - House Committee Do pass with amendments. (Printed A-Eng.) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-07 | Senate | In committee upon adjournment. |
| 2024-03-05 | Senate | Referred to Finance and Revenue. |
| 2024-03-05 | Senate | First reading. Referred to President's desk. |
| 2024-03-05 | House | Rules suspended. Third reading. Carried by Cate. Passed. Ayes, 56; Excused, 4--Boshart Davis, Bynum, Cramer, Neron. |
| 2024-03-05 | House | Second reading. |
| 2024-03-04 | House | Recommendation: Do pass with amendments and be printed A-Engrossed. |
| 2024-03-04 | House | Work Session held. |
| 2024-02-27 | House | Informational Meeting held. |
| 2024-02-22 | House | Public Hearing held. |
| 2024-02-05 | House | Referred to Revenue. |
| 2024-02-05 | House | First reading. Referred to Speaker's desk. |
