OR SB467

Creates a refundable income tax credit equal to 5% of income earned by operators and employees of certified, registered, or subsidized child care facilities, capped at $2,000 per year

Allows eligible child care workers to elect to deposit all or a portion of their tax refund from the credit directly into an Oregon Retirement Savings Plan (OregonSaves) account, with a minimum contribution of $25

The election to contribute to the retirement plan is irrevocable and becomes void if the taxpayer's refund is offset for debts owed or is insufficient to cover all designated contributions

Applies to tax years beginning on or after January 1, 2026, with credits claimable on the 2026 personal income tax return

Takes effect on the 91st day following adjournment of the 2025 regular legislative session