Oregon 2023 Regular Session Status: In Committee 4 D cosponsors

SB 976 — Relating to tax treatment of mortgage interest; prescribing an effective date.

Last action — In committee upon adjournment.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Disallows, for purposes of personal income taxation, mortgage interest deduction for residence other than taxpayer's principal residence, unless taxpayer sells residence or actively markets residence for sale. Phases out allowable deduction for interest for principal residence based upon income. Disallows deduction for principal residence above threshold income amount. Establishes Oregon Housing Opportunity Account. Transfers amount equal to estimated increase in revenue attributable to restrictions on deduction of mortgage interest to account. Applies to tax years beginning on or after January 1, 2024. Takes effect on 91st day following adjournment sine die.

Bill Text

We don't have the full text on file for this bill yet.

Read SB 976 on the official Oregon source →

Action History

  1. In committee upon adjournment.

  2. Public Hearing held.

  3. Public Hearing Cancelled.

  4. Referred to Finance and Revenue.

  5. Introduction and first reading. Referred to President's desk.

Sponsors

Sponsorship breakdown

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4 sponsors · 0 co-sponsors · 86 not signed on

Sponsors (4)

Co-sponsors (0)

None.

Not signed on (86)

86 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
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Frequently asked questions

What does SB 976 do?
Disallows, for purposes of personal income taxation, mortgage interest deduction for residence other than taxpayer's principal residence, unless taxpayer sells residence or actively markets residence for sale. Phases out allowable deduction for interest for principal residence based upon income. Disallows deduction for principal residence above threshold income amount. Establishes Oregon Housing Opportunity Account. Transfers amount equal to estimated increase in revenue attributable to restrictions on deduction of mortgage interest to account. Applies to tax years beginning on or after January 1, 2024. Takes effect on 91st day following adjournment sine die.
Who sponsors SB 976?
SB 976 is sponsored by Khanh Pham (Democrat), Julie Fahey (Democrat), Jeff Golden (Democrat), and Kayse Jama (Democrat).
What is the current status of SB 976?
This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 976?
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Last checked for changes 3 months ago · updated continuously

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