Relating to connection to federal tax law; and prescribing an effective date.
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SB 1529 — Relating to connection to federal tax law; and prescribing an effective date.
Last action — Effective date, June 2, 2018.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 22, 2018. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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Mixed recorded votes
5 passed, 2 failed in recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
Updates connection date to federal Internal Revenue Code and other provisions of federal tax law. Requires, for Oregon income tax purposes, addition to federal taxable income federal dividend received deduction for repatriated income, deemed or otherwise. Applies to tax years beginning on or after January 1, 2017. <b>Establishes Employer Incentive Fund for purpose of incentivizing participating public employers to make lump sum prepayments of employer contributions to Public Employees Retirement System. Establishes School Districts Unfunded Liability Fund for purpose of applying moneys against liabilities of participating public employers in system that are school districts.</b> Directs Department of Revenue to estimate amount of increased corporate tax revenue attributable to treatment of post-1986 deferred foreign income and <i>transfer equal amount to Oregon Rainy Day Fund,</i>] <b>distribute entire estimated amount to Employer Incentive Fund and to School Districts Unfunded Liability Fund,</b> on or before July 1, 2021. Creates credit against corporate taxes in amount of lesser of Oregon tax attributable to treatment of post-1986 deferred foreign income or Oregon tax attributable to requirement, applicable to previous tax years, to add income of member of unitary group incorporated in off-shore jurisdiction. Applies to tax years beginning on or after January 1, 2017, and before January 1, 2018. Repeals provisions requiring addition of income of member of unitary group incorporated in off-shore jurisdiction. <b>Directs Department of Revenue to report to committee of Legislative Assembly on relative efficacy of Oregon law requiring inclusion for corporate tax purposes income of corporation incorporated in off-shore jurisdictions, in comparison to federal law provision requiring shareholders of controlled foreign corporations to include global intangible low-taxed income in gross income.</b> 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 1529 on the official Oregon source →Action History
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Effective date, June 2, 2018.
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Chapter 101, 2018 Laws.
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Governor signed.
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Speaker signed.
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President signed.
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Senate concurred in House amendments and repassed bill.
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Vote explanation(s) filed by Smith DB.
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Third reading. Carried by Barnhart. Passed.
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Motion to substitute Minority Report for Committee Report failed.
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Second reading.
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Minority Recommendation: Do pass with different amendments and be printed B-Engrossed.
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Recommendation: Do pass with amendments and be printed B-Engrossed.
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Work Session held.
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Work Session held.
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Public Hearing held.
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Referred to Revenue.
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First reading. Referred to Speaker's desk.
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Third reading. Carried by Hass. Passed.
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Motion to re-refer to Committee on Finanace and Revenue to adopt the -6 amendments failed.
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Second reading.
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Recommendation: Do pass with amendments. (Printed A-Eng.)
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Work Session held.
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Public Hearing and Work Session held.
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Referred to Finance and Revenue.
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Introduction and first reading. Referred to President's desk.
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Presession Released to the Public.
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 0 co-sponsors · 90 not signed on · 75 voted No
Sponsors (0)
None.
Co-sponsors (0)
None.
Not signed on (90)
90 members have not signed on to this bill.
Show all 90 →"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.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 22 | 0 | 0 | 1 |
| Democrat | 5 | 0 | 0 | 0 |
| Republican | 2 | 0 | 0 | 0 |
| Total | 29 | 0 | 0 | 1 |
| % of votes cast | 97% | 0% | 0% | 3% |
How each member voted (30)
| Member | Party | Vote |
|---|---|---|
| Alan DeBoer | — | Yea |
| Alan Olsen | — | Yea |
| Arnie Roblan | — | Yea |
| Betsy Johnson | — | Yea |
| Bill Hansell | — | Yea |
| Brian Boquist | — | Yea |
| Chuck Riley | — | Yea |
| Chuck Thomsen | — | Yea |
| Cliff Bentz | — | Yea |
| Dennis Linthicum | — | Yea |
| Elizabeth Steiner Hayward | — | Yea |
| Ginny Burdick | — | Yea |
| Herman Baertschiger Jr. | — | Yea |
| Jackie Winters | — | Yea |
| Jeff Kruse | — | Not Voting |
| Laurie Monnes Anderson | — | Yea |
| Lee Beyer | — | Yea |
| Mark Hass | — | Yea |
| Michael Dembrow | — | Yea |
| Peter Courtney | — | Yea |
| Rod Monroe | — | Yea |
| Sara Gelser | — | Yea |
| Tim Knopp | — | Yea |
| Floyd Prozanski | Democrat | Yea |
| James Manning Jr. | Democrat | Yea |
| Kathleen Taylor | Democrat | Yea |
| Lew Frederick | Democrat | Yea |
| Rob Wagner | Democrat | Yea |
| Fred Girod | Republican | Yea |
| Kim Thatcher | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 17 | 22 | 0 | 0 |
| Democrat | 1 | 13 | 0 | 0 |
| Republican | 7 | 0 | 0 | 0 |
| Total | 25 | 35 | 0 | 0 |
| % of votes cast | 42% | 58% | 0% | 0% |
How each member voted (60)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 24 | 15 | 0 | 0 |
| Democrat | 14 | 0 | 0 | 0 |
| Republican | 1 | 6 | 0 | 0 |
| Total | 39 | 21 | 0 | 0 |
| % of votes cast | 65% | 35% | 0% | 0% |
How each member voted (60)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 3 | 2 | 0 | 0 |
| Democrat | 2 | 1 | 0 | 0 |
| Republican | 0 | 1 | 0 | 0 |
| Total | 5 | 4 | 0 | 0 |
| % of votes cast | 56% | 44% | 0% | 0% |
How each member voted (9)
| Member | Party | Vote |
|---|---|---|
| Barbara Smith Warner | — | Yea |
| Diego Hernandez | — | Yea |
| Knute Buehler | — | Nay |
| Lynn Findley | — | Nay |
| Phil Barnhart | — | Yea |
| Pam Marsh | Democrat | Yea |
| Rob Nosse | Democrat | Yea |
| Sue Rieke Smith | Democrat | Nay |
| E. Werner Reschke | Republican | Nay |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 21 | 0 | 0 | 2 |
| Democrat | 5 | 0 | 0 | 0 |
| Republican | 2 | 0 | 0 | 0 |
| Total | 28 | 0 | 0 | 2 |
| % of votes cast | 93% | 0% | 0% | 7% |
How each member voted (30)
| Member | Party | Vote |
|---|---|---|
| Alan DeBoer | — | Yea |
| Alan Olsen | — | Yea |
| Arnie Roblan | — | Yea |
| Betsy Johnson | — | Yea |
| Bill Hansell | — | Yea |
| Brian Boquist | — | Yea |
| Chuck Riley | — | Not Voting |
| Chuck Thomsen | — | Yea |
| Cliff Bentz | — | Yea |
| Dennis Linthicum | — | Yea |
| Elizabeth Steiner Hayward | — | Yea |
| Ginny Burdick | — | Yea |
| Herman Baertschiger Jr. | — | Yea |
| Jackie Winters | — | Yea |
| Jeff Kruse | — | Not Voting |
| Laurie Monnes Anderson | — | Yea |
| Lee Beyer | — | Yea |
| Mark Hass | — | Yea |
| Michael Dembrow | — | Yea |
| Peter Courtney | — | Yea |
| Rod Monroe | — | Yea |
| Sara Gelser | — | Yea |
| Tim Knopp | — | Yea |
| Floyd Prozanski | Democrat | Yea |
| James Manning Jr. | Democrat | Yea |
| Kathleen Taylor | Democrat | Yea |
| Lew Frederick | Democrat | Yea |
| Rob Wagner | Democrat | Yea |
| Fred Girod | Republican | Yea |
| Kim Thatcher | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 10 | 11 | 0 | 2 |
| Democrat | 0 | 5 | 0 | 0 |
| Republican | 2 | 0 | 0 | 0 |
| Total | 12 | 16 | 0 | 2 |
| % of votes cast | 40% | 53% | 0% | 7% |
How each member voted (30)
| Member | Party | Vote |
|---|---|---|
| Alan DeBoer | — | Yea |
| Alan Olsen | — | Yea |
| Arnie Roblan | — | Nay |
| Betsy Johnson | — | Nay |
| Bill Hansell | — | Yea |
| Brian Boquist | — | Yea |
| Chuck Riley | — | Not Voting |
| Chuck Thomsen | — | Yea |
| Cliff Bentz | — | Yea |
| Dennis Linthicum | — | Yea |
| Elizabeth Steiner Hayward | — | Nay |
| Ginny Burdick | — | Nay |
| Herman Baertschiger Jr. | — | Yea |
| Jackie Winters | — | Yea |
| Jeff Kruse | — | Not Voting |
| Laurie Monnes Anderson | — | Nay |
| Lee Beyer | — | Nay |
| Mark Hass | — | Nay |
| Michael Dembrow | — | Nay |
| Peter Courtney | — | Nay |
| Rod Monroe | — | Nay |
| Sara Gelser | — | Nay |
| Tim Knopp | — | Yea |
| Floyd Prozanski | Democrat | Nay |
| James Manning Jr. | Democrat | Nay |
| Kathleen Taylor | Democrat | Nay |
| Lew Frederick | Democrat | Nay |
| Rob Wagner | Democrat | Nay |
| Fred Girod | Republican | Yea |
| Kim Thatcher | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 2 | 2 | 0 | 0 |
| Democrat | 1 | 0 | 0 | 0 |
| Total | 3 | 2 | 0 | 0 |
| % of votes cast | 60% | 40% | 0% | 0% |
How each member voted (5)
| Member | Party | Vote |
|---|---|---|
| Brian Boquist | — | Nay |
| Chuck Riley | — | Yea |
| Herman Baertschiger Jr. | — | Nay |
| Mark Hass | — | Yea |
| Kathleen Taylor | Democrat | Yea |
Subjects
Frequently asked questions
- What does SB 1529 do?
- Updates connection date to federal Internal Revenue Code and other provisions of federal tax law. Requires, for Oregon income tax purposes, addition to federal taxable income federal dividend received deduction for repatriated income, deemed or otherwise. Applies to tax years beginning on or after January 1, 2017. <b>Establishes Employer Incentive Fund for purpose of incentivizing participating public employers to make lump sum prepayments of employer contributions to Public Employees Retirement System. Establishes School Districts Unfunded Liability Fund for purpose of applying moneys against liabilities of participating public employers in system that are school districts.</b> Directs Department of Revenue to estimate amount of increased corporate tax revenue attributable to treatment of post-1986 deferred foreign income and <i>transfer equal amount to Oregon Rainy Day Fund,</i>] <b>distribute entire estimated amount to Employer Incentive Fund and to School Districts Unfunded Liability Fund,</b> on or before July 1, 2021. Creates credit against corporate taxes in amount of lesser of Oregon tax attributable to treatment of post-1986 deferred foreign income or Oregon tax attributable to requirement, applicable to previous tax years, to add income of member of unitary group incorporated in off-shore jurisdiction. Applies to tax years beginning on or after January 1, 2017, and before January 1, 2018. Repeals provisions requiring addition of income of member of unitary group incorporated in off-shore jurisdiction. <b>Directs Department of Revenue to report to committee of Legislative Assembly on relative efficacy of Oregon law requiring inclusion for corporate tax purposes income of corporation incorporated in off-shore jurisdictions, in comparison to federal law provision requiring shareholders of controlled foreign corporations to include global intangible low-taxed income in gross income.</b> Takes effect on 91st day following adjournment sine die.
- What is the current status of SB 1529?
- This bill has been enacted into law. Introduced January 22, 2018. Enacted.
- Where can I track SB 1529?
- Track SB 1529 free on One Click Politics — get push/email alerts when it moves.
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