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OR SB440

Bill

Official Source

Status

Failed

6/27/2025

Primary Sponsor

Richard Anderson

Click for details

Origin

Senate

2025 Legislative Measures

AI Summary

  • Raises the corporate activity tax (CAT) exemption threshold from $1 million to $10 million for amounts received from homebuilding contracts by licensed construction contractors
  • Maintains the existing $1 million exemption threshold for all other taxpayers
  • Increases the filing threshold for homebuilders, meaning those with less than $10 million in homebuilding contract revenue would not need to file CAT returns
  • Applies to tax years beginning on or after January 1, 2026
  • Takes effect on the 91st day following adjournment of the 2025 legislative session

Legislative Description

Relating to a homebuilding contract exemption under corporate activity tax; prescribing an effective date.

Last Action

In committee upon adjournment.

6/27/2025

Committee Referrals

Finance and Revenue1/17/2025

Full Bill Text

No bill text available