Relating to revenue; and prescribing an effective date.

Summary

The bill updates Oregon’s tax code to match the federal Internal Revenue Code, removes certain federal deductions, and raises the state earned‑income tax credit to a larger share of the federal credit. It also creates a new credit for taxpayers who create new jobs, but only if Oregon adopts a statewide retail sales tax. The Department of Revenue must estimate any revenue loss from these cuts and redirect an equal amount to designated state purposes.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share