Bill Text: OR HB2505 | 2013 | Regular Session | Engrossed

Oregon House Bill 2505 (Prior Session Legislation)

Bill Title: Relating to tax expenditures.

Spectrum: Committee Bill

Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB2505 Detail]

Download: Oregon-2013-HB2505-Engrossed.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 2027

                           A-Engrossed

                         House Bill 2505
                   Ordered by the House May 9
             Including House Amendments dated May 9

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.

  Requires that revenue impact statement prepared on measure that
would create tax expenditure include revenue impact for  { + at
least + } three consecutive biennia, beginning with current
biennium.   { +  Requires that revenue impact statement prepared
on measure that would create or extend tax expenditure include
description of public policy purpose of tax expenditure. + }
Requires future tax expenditures to sunset within six tax years
of initial tax year in which tax expenditure is applicable.

                        A BILL FOR AN ACT
Relating to tax expenditures; amending ORS 173.025 and 315.050.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 173.025 is amended to read:
  173.025. (1) The Legislative Fiscal Officer, with the aid of
the Oregon Department of Administrative Services, Legislative
Revenue Officer, state agencies and affected local governmental
units, including school districts, shall prepare a fiscal impact
statement on each measure reported out of a committee of the
Legislative Assembly that could have an effect on expenditures of
local governmental units, including school districts.
  (2) The Legislative Revenue Officer, with aid of the
Legislative Fiscal Officer, the Department of Revenue, state
agencies and affected local governmental units, including school
districts, shall prepare a revenue impact statement on each
measure reported out of a committee of the Legislative Assembly
that could have any effect on revenues of local governmental
units, including school districts.
   { +  (3)(a) As used in this subsection, 'tax expenditure' has
the meaning given that term in ORS 291.201.
  (b) If a revenue impact statement is prepared pursuant to
subsection (2) of this section on a measure that creates a tax
expenditure, the revenue impact statement must include the
revenue impact of the measure for at least three consecutive
biennia, beginning with the current biennium.
  (c) If a revenue impact statement is prepared pursuant to
subsection (2) of this section on a measure that creates or
extends a tax expenditure, the revenue impact statement must
include a statement describing the public policy purpose of the
tax expenditure. The public policy purpose statement is subject
to review by the committee recommending passage of the bill. + }
  SECTION 2. ORS 315.050 is amended to read:
  315.050.  { + (1) As used in this section, 'tax expenditure'
has the meaning given that term in ORS 291.201.
  (2)  + }Any tax credit enacted by the Legislative Assembly on
or after January 1, 2010, shall apply for a maximum of six tax
years beginning with the initial tax year for which the credit is
applicable, unless the Legislative Assembly expressly provides
for another period of applicability.
   { +  (3) Any tax expenditure enacted by the Legislative
Assembly on or after January 1, 2014, shall apply for a maximum
of six tax years beginning with the initial tax year for which
the tax expenditure is applicable, unless the Legislative
Assembly expressly provides for another period of
applicability. + }
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