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OR SB1084
Bill
Status
6/27/2025
Primary Sponsor
Richard Anderson
Click for details
AI Summary
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Imposes a 5% excise tax on net investment income of Oregon public universities and Oregon Health and Science University, with net investment income calculated per Internal Revenue Code section 4940(c)
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Requires public universities to submit annual statements and tax payments to the Department of Revenue by January 31st each year, and maintain records for department examination
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Directs all tax revenue, after administrative expenses and refunds, to the Fund for Student Success, which supports K-12 education including the Student Investment Account, Statewide Education Initiatives Account, and Early Learning Account
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Authorizes the Department of Revenue to collect penalties for payments more than 60 days delinquent
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Applies to tax years beginning on or after January 1, 2026, and takes effect on the 91st day after the 2025 legislative session adjourns
Legislative Description
Relating to a tax imposed on university endowments; prescribing an effective date; providing for revenue raising that requires approval by a three-fifths majority.
Last Action
In committee upon adjournment.
6/27/2025