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OR SB487

Bill

Official Source

Status

Failed

6/27/2025

Primary Sponsor

David Smith

Click for details

Origin

Senate

2025 Legislative Measures

AI Summary

  • Repeals Oregon's corporate activity tax (CAT), eliminating all related statutes under ORS 317A
  • Applies to tax years beginning on or after January 1, 2026
  • Removes CAT revenue as a funding source for the Fund for Student Success, which currently distributes money to the Student Investment Account, Statewide Education Initiatives Account, and Early Learning Account
  • Retains a fixed $40 million transfer from the Fund for Student Success to the High Cost Disabilities Account, rather than the previous formula-based calculation
  • Takes effect on the 91st day following adjournment of the 2025 legislative session

Legislative Description

Relating to the repeal of the 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