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 1352
A-Engrossed
House Bill 2478
Ordered by the House March 14
Including House Amendments dated March 14
Introduced and printed pursuant to House Rule 12.00. Presession
filed (at the request of House Interim Committee on Revenue)
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.
Extends sunset for tax credit for payments to employee and
dependent scholarship programs. { + Modifies definition of
'qualified scholarship' for purposes of tax credit.
Applies to tax years beginning on or after January 1, 2014.
Takes effect on 91st day following adjournment sine die. + }
A BILL FOR AN ACT
Relating to tax credits for qualified scholarship payments;
creating new provisions; amending ORS 315.237 and section 24,
chapter 913, Oregon Laws 2009; and prescribing an effective
date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. Section 24, chapter 913, Oregon Laws 2009, is
amended to read:
{ + Sec. 24. + } Except as provided in ORS 315.237 (6), a
credit may not be claimed under ORS 315.237 for tax years
beginning on or after January 1, { - 2014 - } { + 2020 + }.
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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