Bill Text: OR HB2265 | 2011 | Regular Session | Introduced

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Bill Title: Relating to discontinuation of federal tax expenditures; prescribing an effective date; providing for revenue raising that requires approval by a three-fifths majority.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2011-06-30 - In committee upon adjournment. [HB2265 Detail]

Download: Oregon-2011-HB2265-Introduced.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 2331

                         House Bill 2265

Sponsored by Representative GREENLICK; Representative J SMITH (at
  the request of former Representative Chuck Riley) (Presession
  filed.)

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Creates January 1, 2014, sunset, for purposes of income and
corporate excise taxation, for subtractions from federal taxable
income based upon connection to Internal Revenue Code provision.
  Takes effect on 91st day following adjournment sine die.

                        A BILL FOR AN ACT
Relating to discontinuation of federal tax expenditures;
  prescribing an effective date; and providing for revenue
  raising that requires approval by a three-fifths majority.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Notwithstanding any other provision of law, for
income or corporate excise tax purposes, a subtraction from
federal taxable income based upon a connection to a provision of
the Internal Revenue Code may not be claimed for a tax year
beginning on or after January 1, 2014. This section does not
apply to ORS 317.725 or to any tax deduction, subtraction or
exemption required by the laws or Constitution of the United
States or the Oregon Constitution. + }
  SECTION 2.  { + ORS 316.695 does not apply to tax years
beginning on or after January 1, 2014. + }
  SECTION 3.  { + This 2011 Act takes effect on the 91st day
after the date on which the 2011 session of the Seventy-sixth
Legislative Assembly adjourns sine die. + }
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