2016 Regular Session
|At the request of:||(at the request of Senate Interim Committee on Finance and Revenue)|
|Bill Title:||Relating to tax credits; and prescribing an effective date.|
Makes corrections to provisions for tax credits allowed for rural medical practice.
Limits amount of credit allowed per taxpayer for donation to individual development account. Applies to tax years beginning on or after January 1, 2016. Modifies provisions allowing for election to donate surplus refund credit to education funding. Applies to surplus refund credits allowed after effective date of Act. Makes corrections to provisions for tax credits allowed for alternative energy devices. Applies to alternative energy devices certified on or after January 1, 2016, and to tax years beginning on or after January 1, 2016. Increases annual amount of total tax credits for certified film production development contributions. Modifies formula for allocation of funds to filmmakers and media production services companies. Provides for increased payments to filmmakers for filming outside Portland metropolitan zone. Only as applicable to animal manure or rendering offal, extends sunset for biomass production or collection and lowers rate of credit. Applies to tax years beginning on or after January 1, 2016, and before January 1, 2022. Provides for suspension or revocation of certificate for tax credit for biomass production or collection, and for collection of unpaid tax, in certain circumstances. Takes effect on 91st day following adjournment sine die.
|Chapter Number:||Chapter 029|
|Fiscal Impact:||Has Minimal Fiscal Impact|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||Chapter Number Assigned|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|