OR SB1510

Updates terminology in corporate tax statutes from "global intangible low-taxed income" to "net controlled foreign corporation tested income" to align with federal Internal Revenue Code changes

Removes the January 1, 2026 sunset date for earned income tax credit provisions under ORS 315.266, allowing the credit to continue beyond that date

Expands the certified film production development tax credit to include commercials as eligible productions, effective for fiscal years beginning on or after July 1, 2026

Eliminates the annual filing requirement for property tax exemptions on owner-occupied housing burdened by affordable housing covenants under ORS 307.555, effective for property tax years beginning on or after July 1, 2027

Takes effect on the 91st day following adjournment sine die of the 2026 regular legislative session