OR SB1502 | 2022 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on April 1 2022 - 100% progression
Action: 2022-04-01 - Effective date, June 3, 2022.
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on April 1 2022 - 100% progression
Action: 2022-04-01 - Effective date, June 3, 2022.
Text: Latest bill text (Enrolled) [PDF]
Summary
Creates income or corporate excise tax credit allowed to small forestland owner that elects to observe riparian timber harvest restriction applicable to large forestland owner, in lieu of using harvest option available to small forestland owner. Creates income or corporate excise tax credit allowed to small forestland owner that elects to observe riparian timber harvest restriction applicable to large forestland owner, in lieu of using harvest option available to small forestland owner. Includes no-harvest dry channel portion of small nonfish perennial stream in forest conservation area eligible for tax credit. Prohibits transfer of credit to successor forestland owner. Provides for allowance of credit and retention of harvest restrictions for 50 years. Applies to all tax years beginning on or after January 1, 2023. Allows credit to be used against estate tax, in the alternative to use as income tax credit. Applies to estates of decedents dying on or after January 1, 2023. Takes effect on 91st day following adjournment sine die.
Title
Relating to tax credits for small forestland owners; and prescribing an effective date.
Sponsors
Roll Calls
2022-03-03 - House - House Third Reading (Y: 57 N: 0 NV: 0 Abs: 3) [PASS]
2022-03-02 - House - House Committee Do Pass the A-Eng bill (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-28 - Senate - Senate Third Reading (Y: 25 N: 0 NV: 0 Abs: 5) [PASS]
2022-02-23 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 5 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-08 - Senate - Senate Committee Do pass and refer to Finance and Revenue by prior reference (Y: 4 N: 0 NV: 0 Abs: 1) [PASS]
2022-03-02 - House - House Committee Do Pass the A-Eng bill (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-28 - Senate - Senate Third Reading (Y: 25 N: 0 NV: 0 Abs: 5) [PASS]
2022-02-23 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 5 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-08 - Senate - Senate Committee Do pass and refer to Finance and Revenue by prior reference (Y: 4 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-04-01 | Senate | Effective date, June 3, 2022. |
| 2022-04-01 | Senate | Chapter 34, 2022 Laws. |
| 2022-03-17 | Senate | Governor signed. |
| 2022-03-08 | House | Speaker signed. |
| 2022-03-04 | Senate | President signed. |
| 2022-03-03 | House | Third reading. Carried by Marsh. Passed. Ayes, 57; Excused, 2--Boshart Davis, Scharf; Excused for Business of the House, 1--Kropf. |
| 2022-03-02 | House | Second reading. |
| 2022-03-02 | House | Recommendation: Do pass. |
| 2022-03-02 | House | Work Session held. |
| 2022-03-01 | House | Public Hearing held. |
| 2022-02-28 | House | Referred to Revenue. |
| 2022-02-28 | House | First reading. Referred to Speaker's desk. |
| 2022-02-28 | Senate | Third reading. Carried by Armitage. Passed. Ayes, 25; Absent, 1--Heard; Excused, 4--Boquist, Frederick, Robinson, Thomsen. |
| 2022-02-25 | Senate | Second reading. |
| 2022-02-24 | Senate | Recommendation: Do pass with amendments. (Printed A-Eng.) |
| 2022-02-23 | Senate | Work Session held. |
| 2022-02-16 | Senate | Public Hearing held. |
| 2022-02-09 | Senate | Referred to Finance and Revenue by prior reference. |
| 2022-02-09 | Senate | Recommendation: Do pass and be referred to Finance and Revenue by prior reference. |
| 2022-02-08 | Senate | Work Session held. |
| 2022-02-03 | Senate | Public Hearing held. |
| 2022-02-01 | Senate | Informational Meeting held. |
| 2022-02-01 | Senate | Referred to Natural Resources and Wildfire Recovery, then Finance and Revenue. |
| 2022-02-01 | Senate | Introduction and first reading. Referred to President's desk. |
