Oregon 2017 Regular Session Status: In Committee

SB 623 — Relating to savings accounts.

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 2017 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Establishes Oregon Universal Savings Account Board to create and maintain Oregon Universal Savings Account Program. Provides that program must allow individuals to establish savings accounts without certain restrictions on contributions and withdrawals. Allows account holders to subtract earnings on accounts from taxable income to extent includable in gross income for federal income tax purposes. Establishes Oregon Universal Savings Account Program Fund. Continuously appropriates moneys in fund to board for purposes of administration of fund.

Bill Text

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

Read SB 623 on the official Oregon source →

Action History

  1. In committee upon adjournment.

  2. Referred to Business and Transportation, then Ways and Means.

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

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 89 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (89)

89 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 finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 623 do?
Establishes Oregon Universal Savings Account Board to create and maintain Oregon Universal Savings Account Program. Provides that program must allow individuals to establish savings accounts without certain restrictions on contributions and withdrawals. Allows account holders to subtract earnings on accounts from taxable income to extent includable in gross income for federal income tax purposes. Establishes Oregon Universal Savings Account Program Fund. Continuously appropriates moneys in fund to board for purposes of administration of fund.
Who sponsors SB 623?
SB 623 is sponsored by Tim Knopp.
What is the current status of SB 623?
This bill died with 2017 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 623?
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Last checked for changes 3 months ago · updated continuously

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