OR SB5 | 2023 | Regular Session

Status

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]

Summary

Restores corporate excise tax credit allowed for qualified research activities and sets increased maximum credit amount. Restores corporate excise tax credit allowed for qualified research activities and sets increased maximum credit amount. Limits use of credit to semiconductor or other advanced manufacturing industries. 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. Takes effect on 91st day following adjournment sine die.

Tracking Information

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Title

Relating to tax credits allowed for research and development in the semiconductor industry; prescribing an effective date.

Sponsors


Roll Calls

2023-04-26 - Senate - Senate Committee Do pass and refer to Tax Expenditures by prior reference (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2023-06-25SenateIn committee upon adjournment.
2023-05-23SenateInformational Meeting held.
2023-05-05SenatePublic Hearing held.
2023-04-28SenateReferred to Tax Expenditures by prior reference.
2023-04-28SenateRecommendation: Do pass and be referred to Tax Expenditures by prior reference.
2023-04-26SenateWork Session held.
2023-04-19SenatePublic Hearing held.
2023-04-12SenatePublic Hearing Cancelled.
2023-03-30SenateReferred to Semiconductors, then Tax Expenditures.
2023-03-27SenateIntroduction and first reading. Referred to President's desk.

Oregon State Sources

TypeSource
Summaryhttps://olis.oregonlegislature.gov/liz/2023R1/Measures/Overview/SB5
Texthttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB5/Introduced
Amendmenthttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/ProposedAmendment/24625
Amendmenthttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/ProposedAmendment/24626
Amendmenthttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/ProposedAmendment/24734
Amendmenthttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/ProposedAmendment/24735
Amendmenthttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/ProposedAmendment/24740
Amendmenthttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/ProposedAmendment/24749
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureAnalysisDocument/76657
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/271029
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/271171
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureAnalysisDocument/78753
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/271771
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureAnalysisDocument/78773
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/271872
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/271873
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/271874
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureAnalysisDocument/78846
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/272722
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/272726
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/272756
Supplementhttps://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/274459
Roll Callhttps://olis.oregonlegislature.gov/liz/2023R1/CommitteeReports/MajorityReport/35446

Bill Comments

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