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OR HB2197
Bill
Status
Failed
6/27/2025
Primary Sponsor
Werner Reschke
Click for details
AI Summary
- Creates an Oregon tax subtraction for financial institutions on interest income from qualified loans for agricultural real estate, rural single-family residences, and coastal fishing boats
- Exempts the same qualified interest income from the Corporate Activity Tax (CAT) by excluding it from the definition of commercial activity
- Qualified agricultural loans must have 5-40 year maturity, be secured by first lien, and have loan-to-value ratio under 85% (or have private mortgage insurance for amounts exceeding 85%)
- Rural residences must be located in USDA-defined rural areas outside metropolitan statistical areas or in cities with fewer than 2,500 inhabitants
- Applies to tax years beginning January 1, 2026 through January 1, 2032; takes effect 91 days after the 2025 legislative session adjourns
Legislative Description
Relating to tax incentives for financial institution lending in rural areas; 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