Nancy Nathanson
- Democratic
- Representative
- District 13
Primary
Limits, for purposes of personal income taxation, amount of allowed mortgage interest deduction. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2028. Establishes Oregon First-Time Home Buyer Account. Transfers amount equal to 50 percent of estimated increase in revenue attributable to restriction on deduction of mortgage interest to account. Establishes credit against personal income taxes for percentage of purchase price of home purchased by first-time home buyer. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2028. Establishes Task Force on First-Time Ownership. Requires task force to report findings and recommendations to interim committee of Legislative Assembly related to revenue on or before September 15, 2024. Sunsets task force December 31, 2024. Takes effect on 91st day following adjournment sine die.
In committee upon adjournment.
Referred to Revenue by order of Speaker and Tax Expenditures by prior reference and then Ways and Means by order of the Speaker.
Without recommendation as to passage, be referred to Revenue, then Tax Expenditures by prior reference, then Ways and Means.
Work Session held.
Referred to Housing and Homelessness with subsequent referral to Tax Expenditures.
First reading. Referred to Speaker's desk.
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