2017 Regular Session
|At the request of:|
|Bill Title:||Relating to restrictions on itemized deductions; prescribing an effective date.|
For purposes of personal income taxation, phases out availability of itemized deductions, other than charitable contribution deductions, for taxpayer with federal adjusted gross income of $125,000 or more for single return, or $250,000 or more for joint return.
Transfers amount equal to estimated increase in revenue attributable to restrictions on allowance of itemized deductions to Home Ownership Assistance Account in Oregon Housing Fund. Applies to tax years beginning on or after January 1, 2017. Takes effect on 91st day following adjournment sine die.
|Fiscal Impact:||May Have Fiscal Impact, But No Statement Yet Issued|
|Revenue Impact:||May Have Revenue Impact, But No Statement Yet Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In House Committee|
|Current Committee:||House Committee On Revenue|