Oregon Senate Bill 1573 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on March 7 2014 - 100% progression
Action: 2014-03-07 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Increases percentage of federal earned income credit allowed as credit against personal income taxes. Provides that amount of credit attributable to increase is nonrefundable. Adjusts dollar amounts for certain personal income tax subtractions and credits using Consumer Price Index. Creates personal income tax credit equal to portion of federal child credit. New and amended provisions apply to tax years beginning on or after January 1, 2015. Adjusts income amounts for optional reduced rates of personal income tax on nonpassive income using Consumer Price Index. Applies to tax years beginning on or after January 1, 2016. Creates personal income tax credit for contributions to organization that is organized for purpose of funding construction of World War II memorial. Applies to tax years beginning on or after January 1, 2015, and before January 1, 2021. Takes effect on 91st day following adjournment sine die.

Relating to tax reduction; prescribing an effective date.

Sen. Douglas Whitsett [R]

Sen. Alan Olsen [R]

Date	Chamber	Action
2014-03-07	Senate	In committee upon adjournment.
2014-02-03	Senate	Referred to Finance and Revenue.
2014-02-03	Senate	Introduction and first reading. Referred to President's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2014R1/Measures/Overview/SB1573
Text	https://olis.oregonlegislature.gov/liz/2014R1/Downloads/MeasureDocument/SB1573/Introduced