Bill Text: OR HB3454 | 2011 | Regular Session | Enrolled
Bill Title: Relating to net operating losses; and prescribing an effective date.
Spectrum: Committee Bill
Status: (Passed) 2011-08-02 - Chapter 685, (2011 Laws): Effective date September 29, 2011. [HB3454 Detail]
Download: Oregon-2011-HB3454-Enrolled.html
76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session Enrolled House Bill 3454 Sponsored by COMMITTEE ON REVENUE CHAPTER ................ AN ACT Relating to net operating losses; and prescribing an effective date. Be It Enacted by the People of the State of Oregon: SECTION 1. { + Sections 2 and 3 of this 2011 Act are added to and made a part of ORS chapter 316. + } SECTION 2. { + Notwithstanding ORS 316.739, a subtraction from federal taxable income is not allowed for amounts included in the calculation of an Oregon net operating loss under ORS 316.014. + } SECTION 3. { + If a taxpayer has claimed a subtraction for a previous tax year that is disallowed under section 2 of this 2011 Act, the taxpayer may comply with section 2 of this 2011 Act by filing an amended return or by adding to income on the taxpayer's return for the 2011 tax year the amount of the disallowed subtraction. + } SECTION 4. { + Sections 2 and 3 of this 2011 Act apply to tax years beginning on or after January 1, 2009. + } SECTION 5. { + This 2011 Act takes effect on the 91st day after the date on which the 2011 regular session of the Seventy-sixth Legislative Assembly adjourns sine die. + } ---------- Passed by House June 6, 2011 ............................................................. Ramona Kenady Line, Chief Clerk of House ............................................................. Bruce Hanna, Speaker of House ............................................................. Arnie Roblan, Speaker of House Passed by Senate June 16, 2011 ............................................................. Peter Courtney, President of Senate Enrolled House Bill 3454 (HB 3454-A) Page 1 Received by Governor: ......M.,............., 2011 Approved: ......M.,............., 2011 ............................................................. John Kitzhaber, Governor Filed in Office of Secretary of State: ......M.,............., 2011 ............................................................. Kate Brown, Secretary of State Enrolled House Bill 3454 (HB 3454-A) Page 2