Loading chat...
OR SB1205
Bill
Status
Failed
6/27/2025
Primary Sponsor
David Smith
Click for details
AI Summary
- Extends the sunset date for Oregon's personal income tax subtraction on wildfire lawsuit settlements from January 1, 2026 to January 1, 2028
- Applies to amounts received from civil actions arising from wildfires declared by emergency declarations or executive orders issued between January 1, 2018 and the new sunset date
- Tax benefits apply retroactively to amounts received in all tax years beginning on or after January 1, 2018
- Amends Section 4, chapter 50, Oregon Laws 2024, which originally established the wildfire litigation tax subtraction
Legislative Description
Relating to tax subtractions for amounts received in wildfire litigation.
Last Action
In committee upon adjournment.
6/27/2025
Committee Referrals
Finance and Revenue4/8/2025
Full Bill Text
No bill text available