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. + } ----------