Restores tax credit allowed for qualified research activities at increased maximum credit amount. Expands availability of credit to personal income taxpayers. Provides for refundability of portion of credit for taxpayer with fewer than 150 employees and for transferability of credit. Sets limit for credits allowed for transfer in state per tax year. Increases maximum amount of alternative qualified research credit allowed to taxpayer with insufficient increase in research expenses to claim standard credit. Exempts from commercial activity subject to corporate activity tax amount of qualified research credit allowed against corporate excise tax. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2030. Extends sunsets of certain programs providing economic incentives. Provides that business firm is not eligible to claim enterprise zone exemptions if significantly engaged in operating retail purchase fulfillment center. Increases maximum community service fee for strategic investment program and indexes fee amount for inflation. Increases taxable portion of real market value of eligible project in strategic investment program. Increases maximum annual amount of distribution county may receive under gain share program and indexes maximum amount for inflation. Directs Oregon Business Development Department, in consultation with Legislative Revenue Officer, to study transparency of agreements related to enterprise zone programs entered into between zone sponsors and business firms. Requires department to report study findings to interim committees of Legislative Assembly related to economic development. Takes effect on 91st day following adjournment sine die.
Sponsored bills
Removes restriction on distribution of Student Investment Account moneys to virtual public charter schools. Removes limitation on percentage of students in school district who may enroll in virtual public charter school not sponsored by school district without first receiving approval from school district. Declares emergency, effective on passage.
Requires Deschutes County to approve certain applications to develop manufactured dwelling or recreational vehicle parks outside urban growth boundary. Sunsets January 2, 2028.
Prohibits not-for-profit corporations that receive moneys directly from state from making political contributions to candidates or political committees during biennium in which corporation receives state moneys. Creates exceptions. Declares emergency, effective on passage.
Prevents local governments from prohibiting natural gas use in or availability for new or existing residential or commercial buildings.
Exempts from commercial activity subject to corporate activity tax reimbursements for certain health care services, including care provided to medical assistance recipients and to Medicare recipients. Applies to tax years beginning on or after January 1, 2024. Takes effect on 91st day following adjournment sine die.
Requires Department of Revenue to make surplus revenue refunds, known as "kicker" refunds, in form of check. Applies to surplus revenue refunds issued for biennia beginning on or after July 1, 2023. Takes effect on 91st day following adjournment sine die.
Prohibits state agency from enforcing rules requiring vaccination against COVID-19. Declares emergency, effective on passage.
Allows credit against net income taxes for portion of eligible costs of newly constructed single-family dwelling that sells for price affordable to household with annual income at or below 120 percent of area median income. Takes effect on 91st day following adjournment sine die.
Exempts receipts from sales of prescription drugs by a pharmacy from commercial activity subject to corporate activity tax. Applies to tax years beginning on or after January 1, 2024. Takes effect on 91st day following adjournment sine die.