Bill Text: OR HB2658 | 2013 | Regular Session | Introduced
Bill Title: Relating to incentive programs for cleanup of hazardous substances; appropriating money.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB2658 Detail]
Download: Oregon-2013-HB2658-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 2060
House Bill 2658
Sponsored by Representative FREDERICK (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.
Provides credit against income taxes for taxpayer creating jobs
for certain removal and remedial actions. Applies to tax years
beginning on or after January 1, 2013.
Requires Department of Environmental Quality to establish grant
and loan program for certain removal and remedial actions.
Establishes Industrial Sites Cleanup Fund. Continuously
appropriates moneys in fund to department. Specifies uses of
moneys. Appropriates moneys from General Fund to department for
grant and loan program.
A BILL FOR AN ACT
Relating to incentive programs for cleanup of hazardous
substances; creating new provisions; amending ORS 314.752 and
318.031; and appropriating money.
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) A credit in the amount of $1,000 against
the taxes otherwise due under ORS chapter 316 or, if the taxpayer
is a corporation, under ORS chapter 317 or 318 shall be allowed
to a taxpayer who:
(a) Creates 25 or more jobs during a removal or remedial action
under ORS 465.200 to 465.545 and 465.900; or
(b) Increases the number of jobs by 30 percent over a
three-year period during a removal or remedial action under ORS
465.200 to 465.545 and 465.900.
(2) A nonresident shall be allowed the credit under this
section in the proportion provided under ORS 316.117.
(3) 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.
(4) If a change in the status of a taxpayer from resident to
nonresident or from nonresident to resident occurs, the credit
allowed under this section shall be determined in a manner
consistent with ORS 316.117.
(5) A credit may not be allowed under this section unless the
Department of Environmental Quality has certified the taxpayer's
eligibility to claim the credit. The Department of Environmental
Quality, in consultation with the Department of Revenue, shall
determine by rule procedures for certification and shall maintain
records of certifications in its offices. If requested by the
Department of Revenue, the taxpayer or the Department of
Environmental Quality shall file proof of the tax credit
certification with the Department of Revenue. + }
SECTION 3. { + Section 2 of this 2013 Act applies to tax years
beginning on or after January 1, 2013. + }
SECTION 4. { + (1) The Department of Environmental Quality
shall establish a grant and loan program to provide grants and
loans to provide up to 75 percent of the cost of an environmental
study and cleanup plan that is related to a removal or remedial
action under ORS 465.200 to 465.545 and 465.900.
(2) The department shall:
(a) Design the grants and loans specified in subsection (1) of
this section to protect public health, safety and the
environment; and
(b) Award the grants and loans based on a demonstration of
financial hardship.
(3) The Environmental Quality Commission may adopt rules to
carry out the provisions of this section, including but not
limited to rules that establish criteria for designing and
awarding grants and loans under this section. + }
SECTION 5. { + (1) The Industrial Sites Cleanup Fund is
established in the State Treasury, separate and distinct from the
General Fund. Interest earned by the Industrial Sites Cleanup
Fund shall be credited to the fund. Moneys in the fund are
continuously appropriated to the Department of Environmental
Quality to support the grant and loan program established under
section 4 of this 2013 Act.
(2) The department may accept grants, donations, contributions
or gifts from any source for deposit in the Industrial Sites
Cleanup Fund.
(3) The Industrial Sites Cleanup Fund shall consist of:
(a) Moneys accepted by the department pursuant to subsection
(2) of this section.
(b) Any other moneys received by or appropriated to the
department to support the grant and loan program established
under section 4 of this 2013 Act. + }
SECTION 6. ORS 314.752 is amended to read:
314.752. (1) Except as provided in ORS 314.740 (5)(b), the tax
credits allowed or allowable to a C corporation for purposes of
ORS chapter 317 or 318 shall not be allowed to an S corporation.
The business tax credits allowed or allowable for purposes of ORS
chapter 316 shall be allowed or are allowable to the shareholders
of the S corporation.
(2) In determining the tax imposed under ORS chapter 316, as
provided under ORS 314.734, on income of the shareholder of an S
corporation, there shall be taken into account the shareholder's
pro rata share of business tax credit (or item thereof) that
would be allowed to the corporation (but for subsection (1) of
this section) or recapture or recovery thereof. The credit (or
item thereof), recapture or recovery shall be passed through to
shareholders in pro rata shares as determined in the manner
prescribed under section 1377(a) of the Internal Revenue Code.
(3) The character of any item included in a shareholder's pro
rata share under subsection (2) of this section shall be
determined as if such item were realized directly from the source
from which realized by the corporation, or incurred in the same
manner as incurred by the corporation.
(4) If the shareholder is a nonresident and there is a
requirement applicable for the business tax credit that in the
case of a nonresident the credit be allowed in the proportion
provided in ORS 316.117, then that provision shall apply to the
nonresident shareholder.
(5) As used in this section, 'business tax credit' means a tax
credit granted to personal income taxpayers to encourage certain
investment, to create employment, economic opportunity or
incentive or for charitable, educational, scientific, literary or
public purposes that is listed under this subsection as a
business tax credit or is designated as a business tax credit by
law or by the Department of Revenue by rule and includes but is
not limited to the following credits: ORS 285C.309 (tribal taxes
on reservation enterprise zones and reservation partnership
zones), ORS 315.104 (forestation and reforestation), ORS 315.138
(fish screening, by-pass devices, fishways), ORS 315.141 (biomass
production for biofuel), ORS 315.156 (crop gleaning), ORS 315.164
and 315.169 (farmworker housing), ORS 315.204 (dependent care
assistance), ORS 315.208 (dependent care facilities), ORS 315.213
(contributions for child care), ORS 315.304 (pollution control
facility), ORS 315.326 (renewable energy development
contributions), ORS 315.331 (energy conservation projects), ORS
315.336 (transportation projects), ORS 315.341 (renewable energy
resource equipment manufacturing facilities), ORS 315.354 and
469B.151 (energy conservation facilities), ORS 315.507
(electronic commerce), ORS 315.533 (low income community jobs
initiative) and ORS 317.115 (fueling stations necessary to
operate an alternative fuel vehicle) { + and section 2 of this
2013 Act (hazardous substances remediation) + }.
SECTION 7. ORS 318.031 is amended to read:
318.031. It being the intention of the Legislative Assembly
that this chapter and ORS chapter 317 shall be administered as
uniformly as possible (allowance being made for the difference in
imposition of the taxes), ORS 305.140 and 305.150, ORS chapter
314 and the following sections are incorporated into and made a
part of this chapter: ORS 285C.309, 315.104, 315.141, 315.156,
315.204, 315.208, 315.213, 315.304, 315.326, 315.331, 315.336,
315.507 and 315.533 { + and section 2 of this 2013 Act + } (all
only to the extent applicable to a corporation) and ORS chapter
317.
SECTION 8. { + There is appropriated to the Department of
Environmental Quality, for the biennium beginning July 1, 2013,
out of the General Fund, the amount of $_______ for the purpose
of carrying out the provisions of section 4 of this 2013 Act. + }
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