Oregon Senate Bill 1520
Session 2024R1
Relating to an income tax subtraction for amounts received in wildfire litigation; prescribing an effective date.
Became Law
Signed by Governor on Mar 27, 2024
Sponsors
8 Sponsors
Brian Boquist
David Brock Smith
Lynn Findley
Mark Meek
Kayse Jama
David Gomberg
Jami Cate
Christine Goodwin
First Action
Feb 5, 2024
Latest Action
Mar 28, 2024
Origin Chamber
Senate
Type
Bill
Bill Number
1520
State
Oregon
Session
2024R1
Motion Text
Senate concurred in House amendments and repassed bill.
Senate Roll Call Votes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Absent
Yes
Yes
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Yes
Yes
Summary
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.
A-Engrossed
B-Engrossed
House Amendments to A-Engrossed
Senate Amendments to Introduced
Sort by most recent
03/28/2024
Senate
Effective date, June 6, 2024.
03/28/2024
Senate
Chapter 50, 2024 Laws.
03/27/2024
Senate
Governor signed.
03/07/2024
House
Speaker signed.
03/07/2024
Senate
President signed.
03/06/2024
Senate
Girod declared potential conflict of interest.
03/06/2024
Senate
Senate concurred in House amendments and repassed bill.
03/05/2024
House
Rules suspended. Third reading. Carried by Gomberg. Passed.
03/05/2024
House
Second reading.
03/04/2024
House
Recommendation: Do pass with amendments and be printed B-Engrossed.
03/04/2024
House
Public Hearing and Work Session held.
02/28/2024
House
Referred to Revenue.
02/28/2024
House
First reading. Referred to Speaker's desk.
02/28/2024
Senate
Girod declared potential conflict of interest.
02/28/2024
Senate
Third reading. Carried by Golden, Boquist. Passed.
02/27/2024
Senate
Carried over to 02-28 by unanimous consent.
02/26/2024
Senate
Second reading.
02/23/2024
Senate
Recommendation: Do pass with amendments. (Printed A-Eng.)
02/22/2024
Senate
Public Hearing and Work Session held.
02/21/2024
Senate
Informational Meeting held.
02/08/2024
Senate
Public Hearing held.
02/05/2024
Senate
Referred to Finance and Revenue.
02/05/2024
Senate
Introduction and first reading. Referred to President's desk.
Sources
Record Created
Feb 1, 2024 8:50:30 PM
Record Updated
Apr 2, 2024 12:51:21 AM