SB 1520

  • Oregon Senate Bill
  • 2024 Regular Session
  • Introduced in Senate Feb 28, 2024
  • Passed Senate Feb 28, 2024
  • Passed House Mar 05, 2024
  • Signed by Governor Mar 27, 2024

Relating to an income tax subtraction for amounts received in 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). Digest: Exempts award from wildfire suit from income tax. (Flesch Readability Score: 71.8).] Creates Oregon tax subtraction for amounts received in resolution of a civil action arising from wildfire. Creates an Oregon tax subtraction for wildfire-related legal fees paid by plaintiffs. Allows taxpayer to amend return to claim refund for earliest tax year in which subtraction is allowed. Applies to declarations and executive orders issued on or after January 1, [2020] 2018, and before January 1, 2026, and to amounts received, losses incurred and legal fees paid in tax years beginning on or after January 1, [2020] 2018. Takes effect on the 91st day following adjournment sine die.

Bill Sponsors (21)

Votes


Actions


Mar 28, 2024

Senate

Effective date, June 6, 2024.

Mar 28, 2024

Senate

Chapter 50, 2024 Laws.

Mar 27, 2024

Senate

Governor signed.

Mar 07, 2024

House

Speaker signed.

Mar 07, 2024

Senate

President signed.

Mar 06, 2024

Senate

Girod declared potential conflict of interest.

Mar 06, 2024

Senate

Senate concurred in House amendments and repassed bill.

Mar 05, 2024

House

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

Mar 05, 2024

House

Second reading.

Mar 04, 2024

House

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

Mar 04, 2024

House

Public Hearing and Work Session held.

Feb 28, 2024

House

Referred to Revenue.

Feb 28, 2024

House

First reading. Referred to Speaker's desk.

Feb 28, 2024

Senate

Girod declared potential conflict of interest.

Feb 28, 2024

Senate

Third reading. Carried by Golden, Boquist. Passed.

Feb 27, 2024

Senate

Carried over to 02-28 by unanimous consent.

Feb 26, 2024

Senate

Second reading.

Feb 23, 2024

Senate

Recommendation: Do pass with amendments. (Printed A-Eng.)

Feb 22, 2024

Senate

Public Hearing and Work Session held.

Feb 21, 2024

Senate

Informational Meeting held.

Feb 08, 2024

Senate

Public Hearing held.

Feb 05, 2024

Senate

Referred to Finance and Revenue.

Feb 05, 2024

Senate

Introduction and first reading. Referred to President's desk.

Bill Text

Bill Text Versions Format
A-Engrossed PDF
B-Engrossed PDF
Enrolled PDF
House Amendments to A-Engrossed PDF
Introduced PDF
Senate Amendments to Introduced PDF
SFR Amendment -2 PDF
HREV Amendment -A5 PDF

Related Documents

Document Format
No related documents.

Sources

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