Relating to tax subtractions for amounts received in wildfire litigation.

SB 1205 extends the deadline for Oregon residents to claim a personal income tax deduction on money received from wildfire-related lawsuits. It delays the expiration date for this tax break from 2026 to 2028, allowing affected taxpayers more time to file. The bill directly impacts Oregon residents who resolved civil cases related to wildfires and received settlement payments. This change modifies existing tax law to provide continued eligibility for the deduction through 2028.