Bill Text: OR HB2478 | 2013 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to tax credits for qualified scholarship payments; prescribing an effective date.

Spectrum: Committee Bill

Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB2478 Detail]

Download: Oregon-2013-HB2478-Amended.html

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     77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session

HA to HB 2478

LC 1352/HB 2478-1

                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2478

               By COMMITTEE ON BUSINESS AND LABOR

                            March 14

  In line 2 of the printed bill, delete 'amending' and insert '
creating new provisions; amending ORS 315.237 and'.
  In line 3, before the period insert '; and prescribing an
effective date'.
  After line 7, insert:
  '  { +  SECTION 2. + } ORS 315.237 is amended to read:
  ' 315.237. (1) As used in this section, 'qualified scholarship'
means a scholarship  { + that is used to pay expenses of
attending a program or institution located in this state and + }
that meets the criteria set forth or incorporated into the letter
of employee and dependent scholarship program certification
issued by the Oregon Student Access Commission under ORS 348.618.
  ' (2) A credit against the taxes otherwise due under ORS
chapter 316 is allowed to a resident employer (or, if the
taxpayer is a corporation that is an employer, under ORS chapter
317 or 318) that has received:
  ' (a) Program certification from the commission under ORS
348.618; and
  ' (b) Tax credit certification under ORS 348.621 for the
calendar year in which the tax year of the taxpayer begins.
  ' (3) The amount of the credit allowed to a taxpayer under this
section shall equal 50 percent of the amount of qualified
scholarship funds actually paid to or on behalf of qualified
scholarship recipients during the tax year.
  ' (4) The credit allowed under this section may not exceed the
tax liability of the taxpayer for the tax year.
  ' (5) The credit allowed to a taxpayer for a tax year under
this section may not exceed $50,000.
  ' (6) Any tax credit otherwise allowable under this section
that is not used by the taxpayer in a particular year may be
carried forward and offset against the taxpayer's tax liability
for the next succeeding tax year. Any credit remaining unused in
the next succeeding tax year may be carried forward and used in
the second succeeding tax year, and likewise any credit not used
in that second succeeding tax year may be carried forward and
used in the third succeeding tax year, and any credit not used in
that third succeeding tax year may be carried forward and used in
the fourth succeeding tax year, and any credit not used in that
fourth succeeding tax year may be carried forward and used in the
fifth succeeding tax year, but may not be carried forward for any
tax year thereafter.
  ' (7) In the case of a credit allowed under this section for
purposes of ORS chapter 316:
  ' (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.
  ' (8) The credit shall be claimed on the form and in the time
and manner in which the department shall prescribe. If the
taxpayer is required to do so by the department, the taxpayer
shall file a copy of the letter of tax credit certification
issued by the commission with the taxpayer's return for the tax
year in which a credit under this section is claimed.
  '  { +  SECTION 3. + }  { + The amendments to ORS 315.237 by
section 2 of this 2013 Act apply to tax years beginning on or
after January 1, 2014. + }
  '  { +  SECTION 4. + }  { + This 2013 Act takes effect on the
91st day after the date on which the 2013 regular session of the
Seventy-seventh Legislative Assembly adjourns sine die. + } ' .
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