OR HB2113

Establishes December 21, 2017, as Oregon's connection date for Internal Revenue Code sections governing bonus depreciation (Section 168(k)) and net business interest deductions (Section 163(j))

Allows businesses to claim full 100% bonus depreciation in the first year property is placed in service for Oregon tax purposes, with excess amounts added back to taxable income in later years

Permits businesses to deduct net business interest without the federal 30% limitation that currently restricts interest expense deductions

Allows immediate expensing of research and development costs under Section 174, rather than requiring amortization over 5 years as federal law now requires

Applies to tax years beginning on or after January 1, 2025, and takes effect on the 91st day following adjournment of the 2025 legislative session