OR SB727 | 2021 | Regular Session
Status
Completed Legislative Action
Spectrum: Committee Bill
Status: Passed on August 20 2021 - 100% progression
Action: 2021-08-20 - Effective date, September 25, 2021.
Text: Latest bill text (Engrossed) [PDF]
Spectrum: Committee Bill
Status: Passed on August 20 2021 - 100% progression
Action: 2021-08-20 - Effective date, September 25, 2021.
Text: Latest bill text (Engrossed) [PDF]
Summary
Establishes elective entity-level, pass-through business alternative income tax. Establishes elective entity-level, pass-through business alternative income tax. Imposes tax based on sum of members' shares of distributive proceeds. Transfers proceeds of tax to General Fund. Creates refundable personal income tax credit allowable to members of pass-through entity that elects to pay entity level tax. Allows credit in amount of member's pro rata share of entity-level tax paid. Applies to tax years beginning on or after January 1, 2022, and before January 1, 2024. Repeals entity-level tax and related personal income tax credit. Becomes operative upon repeal of federal provision limiting personal income tax deduction for state and local taxes paid. Takes effect on 91st day following adjournment sine die.
Title
Relating to taxation; and prescribing an effective date.
Sponsors
Roll Calls
2021-06-25 - Senate - Senate Third Reading in Concurrence (Y: 26 N: 1 NV: 0 Abs: 3) [PASS]
2021-06-25 - House - House Third Reading (Y: 48 N: 7 NV: 0 Abs: 4) [PASS]
2021-06-24 - House - House Committee Do pass with amendments. (Printed B-Eng.) (Y: 5 N: 2 NV: 0 Abs: 0) [PASS]
2021-06-17 - Senate - Senate Third Reading (Y: 22 N: 7 NV: 0 Abs: 1) [PASS]
2021-06-14 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 4 N: 1 NV: 0 Abs: 0) [PASS]
2021-06-25 - House - House Third Reading (Y: 48 N: 7 NV: 0 Abs: 4) [PASS]
2021-06-24 - House - House Committee Do pass with amendments. (Printed B-Eng.) (Y: 5 N: 2 NV: 0 Abs: 0) [PASS]
2021-06-17 - Senate - Senate Third Reading (Y: 22 N: 7 NV: 0 Abs: 1) [PASS]
2021-06-14 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 4 N: 1 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2021-08-20 | Senate | Effective date, September 25, 2021. |
| 2021-08-20 | Senate | Chapter 589, 2021 Laws. |
| 2021-07-19 | Senate | Governor signed. |
| 2021-06-26 | House | Speaker signed. |
| 2021-06-26 | Senate | President signed. |
| 2021-06-25 | Senate | Rules suspended. Senate concurred in House amendments and repassed bill. Ayes, 26; Nays, 1--Thomsen; Excused, 3--Heard, Manning Jr, Thatcher. |
| 2021-06-25 | House | Rules suspended. Third reading. Carried by Nathanson. Passed. Ayes, 48; Nays, 7--Levy, Morgan, Owens, Pham, Post, Reschke, Speaker Kotek; Excused, 4--Dexter, Smith G, Smith Warner, Wilde. |
| 2021-06-25 | House | Second reading. |
| 2021-06-24 | House | Recommendation: Do pass with amendments and be printed B-Engrossed. |
| 2021-06-24 | House | Public Hearing and Work Session held. |
| 2021-06-17 | House | Referred to Revenue. |
| 2021-06-17 | House | First reading. Referred to Speaker's desk. |
| 2021-06-17 | Senate | Vote explanation(s) filed by Heard. |
| 2021-06-17 | Senate | Third reading. Carried by Boquist, Burdick. Passed. Ayes, 22; Nays, 7--Anderson, Findley, Girod, Heard, Kennemer, Linthicum, Thomsen; Excused, 1--Manning Jr. |
| 2021-06-16 | Senate | Second reading. |
| 2021-06-15 | Senate | Recommendation: Do pass with amendments. (Printed A-Eng.) |
| 2021-06-14 | Senate | Work Session held. |
| 2021-05-05 | Senate | Public Hearing held. |
| 2021-03-29 | Senate | Public Hearing held. |
| 2021-03-17 | Senate | Public Hearing held. |
| 2021-02-10 | Senate | Referred to Finance and Revenue. |
| 2021-02-04 | Senate | Introduction and first reading. Referred to President's desk. |
