OR SB419

Requires corporations engaged in a unitary business with other corporations to file combined tax reports that include income and apportionment factors of all members, including foreign corporations incorporated outside the United States

Expands the definition of "corporation" for corporate excise tax purposes to include entities incorporated in foreign countries, not just U.S.-incorporated businesses

Establishes the Perinatal, Child and Maternal Health Fund to support health programs for parents during prenatal, birth, and postpartum periods (up to one year after birth) and children under age seven, with emphasis on the first year of life

Directs the Department of Revenue to annually estimate increased tax revenue attributable to the new multinational reporting requirements and transfer that amount to the Perinatal, Child and Maternal Health Fund, beginning December 31, 2027

Applies to tax years beginning on or after January 1, 2026, and takes effect on the 91st day following adjournment of the 2025 legislative session