Budget & Taxes

Updates the terminology used to describe certain income earned by multinational corporations to reflect a change in the term used in federal law. Aligns sunset dates for earned income tax credit provisions with the underlying sunset date for the credit. Expands the tax credit for certified film production development contributions to allow the use of contributions for the production of commercials. Applies to fiscal years beginning on or after July 1, 2026. [ Provides an exception from the annual filing requirement for the property tax exemption for property burdened by an affordable housing covenant used for owner-occupied housing. Applies to property tax years beginning on or after July 1, 2027. ] Extends the sunset for the property tax exemption for cargo containers. Repeals the requirement that revenue from a tribal tax on the distribution of motor vehicle fuel that is exempt from the gas taxes under Oregon law is subject to the highway-use restrictions under the Oregon Constitution. Extends the applicability of the pass-through business alternative income tax and tax credit through the 2027 tax year. Allows overpayments to be credited as estimated payments for the next tax year. Requires the State Board of Tax Practitioners to register as enrolled agents individuals who are authorized by the Internal Revenue Service to represent taxpayers as enrolled agents. Takes effect on the 91st day following adjournment sine die.

] Prohibits the student member of the Oregon Health and Science University Board of Directors from participating in any discussions or action by the board or attending any executive session of the board involving collective bargaining issues that affect students. Requires the board to meet at least four times per year. Allows directors of education service district boards to receive stipends. Specifies when adjustments for inflation can be made for stipends of school districts. Changes the definition for the term "active duty" in the Interstate Compact on Educational Opportunity for Military Children. Clarifies that the rulemaking authority for the Department of Education is by the State Board of Education. Allows a school district to not include a member of the educational equity advisory committee on the budget committee if no member of the educational equity advisory committee is willing or able to serve on the budget committee. Directs Portland State University instead of the Higher Education Coordinating Commission to report to the Legislative Assembly on a study examining the labor standards and working experiences of farmworkers in this state and evaluating the adequacy and availability of existing workplace protections for farmworkers. Allows education service districts to be temporarily exempt from certain requirements applicable to lamps in buildings used to provide educational services to students. Declares an emergency, effective on passage.

Provides that additional taxes otherwise imposed upon disqualification of land from certain forestland special assessment programs may not be collected if the disqualification is due to the suspension of reforestation requirements as a result of insects or disease. Authorizes the Water Resources Department to grant time extensions for specified water right permit holders to complete construction and apply water beneficially. Modifies requirement that the department's director or principal assistant be a registered engineer. Modifies provision specifying when a proposed order of the department becomes final. Directs the department to facilitate certain water users' enrollment in a federal conservation program. Takes effect on the 91st day following adjournment sine die.