2019 Regular Session
|At the request of:||(at the request of Senate Interim Committee on Finance and Revenue)|
|Bill Title:||Relating to taxation; prescribing an effective date.|
Disallows, for personal income or corporate excise tax purposes, deduction for losses from wagering transactions.
Increases percentage of federal earned income credit allowable as credit against Oregon personal income tax. Increases amount of standard deduction.] First applies to tax years beginning on or after January 1, 2020.] Extends sunset for earned income tax credit.] Requires addition, in determination of Oregon taxable income, of amount of losses from wagering transactions if deducted on taxpayer's federal return. Applies to tax years beginning on or after January 1, 2019. Allows deduction for qualified tuition and related expenses, on personal income tax return, as percentage of amount allowed as deduction on federal return under law applicable to 2017 tax year. Applies to tax years beginning on or after January 1, 2019, and before January 1, 2025. Takes effect on 91st day following adjournment sine die.
|Fiscal Impact:||Has Minimal Fiscal Impact|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In House Committee|
|Current Committee:||House Committee On Revenue|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|