Bill Text: OR HB2304 | 2013 | Regular Session | Introduced
Bill Title: Relating to tax credits for tuition.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB2304 Detail]
Download: Oregon-2013-HB2304-Introduced.html
77th OREGON LEGISLATIVE ASSEMBLY--2013 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 1902 House Bill 2304 Sponsored by Representative READ (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. Establishes credit against personal income tax for amounts paid by eligible taxpayer who paid for and received instruction leading to degree or recognized certificate from post-secondary institution. Applies to amounts paid in tax years beginning on or after January 1, 2015, and before January 1, 2024. A BILL FOR AN ACT Relating to tax credits for tuition. Be It Enacted by the People of the State of Oregon: SECTION 1. { + Section 2 of this 2013 Act is added to and made a part of ORS chapter 315. + } SECTION 2. { + (1) As used in this section, 'eligible taxpayer ' means a taxpayer who graduated from an Oregon high school on or after July 1, 2013, or received a General Educational Development (GED) certificate in Oregon on or after July 1, 2013, and who: (a) Received a degree or recognized certificate from a community college within three years after graduating from high school or receiving a General Educational Development (GED) certificate; (b) Received a degree or recognized certificate from an eligible post-secondary institution, as defined in ORS 348.180, that is not a community college within five years after graduating from high school or receiving a General Educational Development (GED) certificate; or (c)(A) Received a degree or recognized certificate from a community college within three years after graduating from high school or receiving a General Educational Development (GED) certificate; and (B) Received a degree or recognized certificate from an eligible post-secondary institution, as defined in ORS 348.180, that is not a community college within three years after receiving the degree or recognized certificate from a community college. (2)(a) If an eligible taxpayer received a degree or recognized certificate from a community college, a credit against the taxes otherwise due under ORS chapter 316 is allowed to the eligible taxpayer in the amount of $125. A taxpayer may receive a credit under this paragraph for two tax years. (b) If an eligible taxpayer received a degree or recognized certificate from an eligible post-secondary institution that is not a community college and has not received a degree or recognized certificate from a community college within the period specified in subsection (1) of this section, a credit against the taxes otherwise due under ORS chapter 316 is allowed to the eligible taxpayer in the amount of $250. A taxpayer may receive a credit under this paragraph for four tax years. (c) If an eligible taxpayer received a degree or recognized certificate from an eligible post-secondary institution that is not a community college and has previously received a degree or recognized certificate from a community college within the period specified in subsection (1) of this section, a credit against the taxes otherwise due under ORS chapter 316 is allowed to the eligible taxpayer in the amount of $250. A taxpayer may receive a credit under this paragraph for two tax years. (3) An eligible taxpayer may not receive credits under subsection (2)(a) and (c) of this section in the same tax year. (4) The credit allowed under this section is available only to a taxpayer who paid tuition, fees or related expenses and received the instruction leading to a degree or recognized certificate that qualified the taxpayer for a credit under this section. (5) The credit allowed under this section may not exceed the tax liability of the taxpayer for the tax year in which the credit is claimed and may not be carried forward to succeeding tax years. (6)(a) A nonresident shall be allowed the credit under this section in the proportion provided in ORS 316.117. (b) If a change in the status of a taxpayer from resident to nonresident or from nonresident to resident occurs, the credit allowed by this section shall be determined in a manner consistent with ORS 316.117. (c) If a change in the taxable year of a taxpayer occurs as described in ORS 314.085, or if the Department of Revenue terminates the taxpayer's taxable year under ORS 314.440, the credit allowed under this section shall be prorated or computed in a manner consistent with ORS 314.085. + } SECTION 3. { + Section 2 of this 2013 Act applies to tax years beginning on or after January 1, 2015, and before January 1, 2024. + } ----------