OR SB93 | 2025 | Regular Session
Status
Completed Legislative Action
Sponsorship: Slight Partisan Bill (Republican 3-1)
Status: Failed on June 27 2025 - 100% progression
Action: 2025-06-27 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]
Sponsorship: Slight Partisan Bill (Republican 3-1)
Status: Failed on June 27 2025 - 100% progression
Action: 2025-06-27 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]
Summary
The Act makes a new tax subtraction for banks that loan for rural farms, houses or boats. (Flesch Readability Score: 72.3). Creates an Oregon tax subtraction for interest received by financial institutions from loans made for the purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Exempts from commercial activity subject to the corporate activity tax interest received by financial institutions from loans made for the purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Takes effect on the 91st day following adjournment sine die.
Title
Relating to tax incentives for financial institution lending in rural areas; prescribing an effective date.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-06-27 | Senate | In committee upon adjournment. |
| 2025-03-17 | Senate | Public Hearing held. |
| 2025-01-17 | Senate | Referred to Finance and Revenue. |
| 2025-01-13 | Senate | Introduction and first reading. Referred to President's desk. |
