Bill Text: OR HB4005 | 2012 | Regular Session | Enrolled
Bill Title: Relating to a tax credit for livestock killed by predators; and prescribing an effective date.
Spectrum: Unknown
Status: (Passed) 2012-03-27 - Chapter 65, (2012 Laws): Effective date June 4, 2012. [HB4005 Detail]
Download: Oregon-2012-HB4005-Enrolled.html
76th OREGON LEGISLATIVE ASSEMBLY--2012 Regular Session
Enrolled
House Bill 4005
Introduced and printed pursuant to House Rule 12.00. Presession
filed (at the request of House Interim Committee on Agriculture
and Natural Resources)
CHAPTER ................
AN ACT
Relating to a tax credit for livestock killed by predators; and
prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + Section 2 of this 2012 Act is added to and made
a part of ORS chapter 315. + }
SECTION 2. { + (1) As used in this section, 'livestock' has
the meaning given that term in ORS 610.150.
(2) A credit against taxes imposed under ORS chapter 316 (or,
if the taxpayer is a corporation, under ORS chapter 317 or 318)
shall be allowed for the current market value of any livestock
that belongs to the taxpayer and that is killed during the tax
year by a wolf.
(3) In order to qualify for the credit allowed under this
section, the taxpayer must obtain written certification from the
State Department of Fish and Wildlife as provided in subsection
(4) of this section.
(4)(a) The State Department of Fish and Wildlife shall issue
written certification to taxpayers that are eligible to claim the
credit allowed under this section. Before issuing a certification
under this subsection, the department must possess evidence that
the loss to a taxpayer's livestock is due to wolf depredation.
The evidence must include a finding by the department or by a
peace officer, as defined in ORS 161.015, that wolf depredation
was the probable cause of the loss.
(b) The department may not issue certifications for more than
$37,500 in tax credits for any tax year. The department shall
issue certifications to taxpayers in the order in which completed
applications for certification are received by the department.
(5) A credit allowed under this section shall be reduced by any
amount that a taxpayer has already received as compensation for
the killed livestock, including compensation pursuant to ORS
610.150.
(6) A taxpayer may not claim a credit under this section for:
(a) Any tax year that ends after the date on which the State
Fish and Wildlife Commission has, by rule, removed the wolf from
the list of endangered species established pursuant to ORS
496.172 (2); or
(b) A loss to livestock killed after June 30, 2018.
(7) If the amount allowable as a credit under this section,
when added to the sum of the amounts allowable as payment of tax
Enrolled House Bill 4005 (HB 4005-C) Page 1
under ORS 316.187 (withholding), ORS 316.583 (estimated tax),
other tax prepayment amounts and other refundable credit amounts,
exceeds the taxes imposed by ORS chapters 314 and 316 for the tax
year (reduced by any nonrefundable credits allowable for purposes
of ORS chapter 316 for the tax year), the amount of the excess
shall be refunded to the taxpayer as provided in ORS 316.502.
(8) The credit shall be claimed on a form prescribed by the
Department of Revenue that contains the information required by
the department.
(9) Any tax credit otherwise allowable under this section that
is not used by the taxpayer in a particular tax 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, but may not be carried
forward for any tax year thereafter.
(10) In the case of a credit allowed under this section:
(a) A nonresident shall be allowed the credit in the proportion
provided in ORS 316.117.
(b) If a change in the status of the taxpayer from resident to
nonresident or from nonresident to resident occurs, the credit
shall be determined in a manner consistent with ORS 316.117.
(c) If a change in the taxable year of the taxpayer occurs as
described in ORS 314.085, or if the department terminates the
taxpayer's taxable year under ORS 314.440, the credit shall be
prorated or computed in a manner consistent with ORS 314.085. + }
SECTION 3. { + Section 2 of this 2012 Act applies to tax years
beginning on or after January 1, 2012, and before January 1,
2019. + }
SECTION 4. { + This 2012 Act takes effect on the 91st day
after the date on which the 2012 regular session of the
Seventy-sixth Legislative Assembly adjourns sine die. + }
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Passed by House February 29, 2012
.............................................................
Ramona Kenady Line, Chief Clerk of House
.............................................................
Bruce Hanna, Speaker of House
.............................................................
Arnie Roblan, Speaker of House
Passed by Senate March 2, 2012
.............................................................
Peter Courtney, President of Senate
Enrolled House Bill 4005 (HB 4005-C) Page 2
Received by Governor:
......M.,............., 2012
Approved:
......M.,............., 2012
.............................................................
John Kitzhaber, Governor
Filed in Office of Secretary of State:
......M.,............., 2012
.............................................................
Kate Brown, Secretary of State
Enrolled House Bill 4005 (HB 4005-C) Page 3
