Bill Text: OR SB446 | 2013 | Regular Session | Introduced

Oregon Senate Bill 446 (Prior Session Legislation)

Bill Title: Relating to tax credits for premiums paid for health benefit plans.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [SB446 Detail]

Download: Oregon-2013-SB446-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 1114

                         Senate Bill 446

Sponsored by Senator GEORGE (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.

  Establishes credit against personal income taxes of 40 percent
of premiums paid by individual taxpayers for coverage of
taxpayer, spouse or dependent.
  Applies to tax years beginning on or after January 1, 2014.

                        A BILL FOR AN ACT
Relating to tax credits for premiums paid for health benefit
  plans.
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) As used in this section, 'health benefit
plan' has the meaning given that term in ORS 25.321.
  (2) There is allowed a credit against the taxes that are
otherwise due under ORS chapter 316, in an amount equal to 40
percent of the total premiums paid or incurred during the tax
year by the taxpayer for health benefit plan coverage of the
taxpayer or a spouse or dependent of the taxpayer.
  (3) The credit allowed under this section may not exceed the
tax liability of the taxpayer and may not be carried forward to a
later tax year.
  (4) 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 a 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 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 shall be prorated or computed in a manner consistent with
ORS 314.085. + }
  SECTION 3.  { + Section 2 of this 2013 Act applies to tax years
beginning on or after January 1, 2014. + }
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