Oregon Senate Bill 852

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Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on March 17 2021 - 25% progression
Action: 2021-05-03 - Public Hearing Cancelled.
Pending: Senate Finance and Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Disallows, for purposes of personal income taxation, mortgage interest deduction for residence other than taxpayer's principal residence, unless taxpayer sells residence or actively markets residence for sale. Disallows, for purposes of personal income taxation, mortgage interest deduction for residence other than taxpayer's principal residence, unless taxpayer sells residence or actively markets residence for sale. Phases out allowable deduction for interest for principal residence based upon income. Disallows deduction for principal residence above threshold income amount. Establishes Oregon Housing Opportunity Account. Transfers amount equal to estimated increase in revenue attributable to restrictions on deduction of mortgage interest to account. Applies to tax years beginning on or after January 1, 2022. Takes effect on 91st day following adjournment sine die.

Relating to tax treatment of mortgage interest; prescribing an effective date.

Sen. Kayse Jama [D]	Rep. Khanh Pham [D]	Rep. Julianne Fahey [D]	Sen. Michael Dembrow [D]
Sen. Jeffrey Golden [D]

2021-04-08 - Senate - Senate Committee Do pass and refer to Finance and Revenue by prior reference (Y: 3 N: 2 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2021-05-03	Senate	Public Hearing Cancelled.
2021-04-16	Senate	Referred to Finance and Revenue by prior reference.
2021-04-16	Senate	Recommendation: Do pass and be referred to Finance and Revenue by prior reference.
2021-04-08	Senate	Work Session held.
2021-04-01	Senate	Public Hearing held.
2021-03-17	Senate	Referred to Housing and Development, then Finance and Revenue.
2021-03-17	Senate	Introduction and first reading. Referred to President's desk.

Type	Source
Summary	https://olis.leg.state.or.us/liz/2021R1/Measures/Overview/SB852
Text	https://olis.leg.state.or.us/liz/2021R1/Downloads/MeasureDocument/SB852/Introduced
Roll Call	https://olis.leg.state.or.us/liz/2021R1/CommitteeReports/MajorityReport/31891