HB 4007

  • Oregon House Bill
  • 2024 Regular Session
  • Introduced in House Mar 05, 2024
  • Passed House Mar 05, 2024
  • Senate
  • Governor

Relating to tax treatment of wildfire litigation; prescribing an effective date.

Abstract

Digest: Exempts awards from and legal fees paid in wildfire suits from income tax. (Flesch Readability Score: 76.5). Creates an Oregon tax subtraction for amounts received in settlement of civil actions arising from wildfire. [Allows] Creates an Oregon [itemized deduction] tax subtraction for wildfire-related legal fees paid by plaintiffs. Allows taxpayer to amend return to claim refund for earliest tax year in which a subtraction is allowed. Applies to wildfire emergency declarations and executive orders issued on or after January 1, 2018, and before January 1, 2026, and to amounts received, losses incurred and legal fees paid in all tax years beginning on or after January 1, [2020] 2018. Takes effect on the 91st day following adjournment sine die.

Bill Sponsors (18)

Votes


Actions


Mar 08, 2024

Senate

In committee upon adjournment.

Mar 05, 2024

Senate

Referred to Finance and Revenue.

Mar 05, 2024

Senate

First reading. Referred to President's desk.

Mar 05, 2024

House

Rules suspended. Third reading. Carried by Cate. Passed.

Mar 05, 2024

House

Second reading.

Mar 04, 2024

House

Recommendation: Do pass with amendments and be printed A-Engrossed.

Mar 04, 2024

House

Work Session held.

Feb 27, 2024

House

Informational Meeting held.

Feb 22, 2024

House

Public Hearing held.

Feb 05, 2024

House

Referred to Revenue.

Feb 05, 2024

House

First reading. Referred to Speaker's desk.

Bill Text

Bill Text Versions Format
A-Engrossed PDF
House Amendments to Introduced PDF
Introduced PDF
HREV Amendment -4 PDF

Related Documents

Document Format
No related documents.

Sources

Data on Open States is updated periodically throughout the day from the official website of the Oregon Legislative Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.