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OR HB2116

Bill

Official Source

Status

Failed

6/27/2025

Primary Sponsor

Werner Reschke

Click for details

Origin

House of Representatives

2025 Legislative Measures

AI Summary

  • Requires annual inflation adjustments for all Oregon personal income tax brackets, including the highest bracket (over $125,000), removing the current exemption that prevents adjusting the top bracket threshold
  • Requires annual inflation adjustments for the corporate excise tax threshold ($1 million), which currently separates the 6.6% rate from the 7.6% rate
  • Inflation adjustments calculated using the U.S. City Average Consumer Price Index for All Urban Consumers, measured over the 12 months ending August 31 of the prior year
  • Personal income tax changes apply to tax years beginning on or after January 1, 2026; corporate excise tax changes apply beginning January 1, 2027
  • Takes effect on the 91st day following adjournment of the 2025 legislative session

Legislative Description

Relating to tax rates; prescribing an effective date.

Last Action

In committee upon adjournment.

6/27/2025

Committee Referrals

Revenue1/17/2025

Full Bill Text

No bill text available