Bill Text: OR HB2511 | 2013 | Regular Session | Enrolled
Bill Title: Relating to surplus refund methods; and prescribing an effective date.
Spectrum: Committee Bill
Status: (Passed) 2013-05-16 - Chapter 123, (2013 Laws): 90 days after Sine Die. [HB2511 Detail]
Download: Oregon-2013-HB2511-Enrolled.html
77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session
Enrolled
House Bill 2511
Introduced and printed pursuant to House Rule 12.00. Presession
filed (at the request of House Interim Committee on Revenue)
CHAPTER ................
AN ACT
Relating to surplus refund methods; creating new provisions;
amending ORS 291.349; and prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 291.349, as amended by section 22, chapter 107,
Oregon Laws 2012, is amended to read:
291.349. (1) As soon as practicable after adjournment sine die
of the odd-numbered year regular session of the Legislative
Assembly, the Oregon Department of Administrative Services shall
report to the Legislative Revenue Officer and the Legislative
Fiscal Officer the estimate as of July 1 of the first year of the
biennium of General Fund and State Lottery Fund revenues that
will be received by the state during that biennium. The Oregon
Department of Administrative Services shall base its estimate on
the last forecast given to the Legislative Assembly before
adjournment sine die of the odd-numbered year regular session on
which the printed, adopted budget prepared in the Oregon
Department of Administrative Services is based, adjusted only
insofar as necessary to reflect changes in laws adopted at that
session. The report shall contain the estimated revenues from
corporate income and excise taxes separately from the estimated
revenues from other General Fund sources. The Oregon Department
of Administrative Services may revise the estimate if necessary
following adjournment sine die of a special session or an
even-numbered year regular session of the Legislative Assembly,
but any revision does not affect the basis of the computation
described in subsection (3) or (4) of this section.
(2) As soon as practicable after the end of the biennium, the
Oregon Department of Administrative Services shall report to the
Legislative Revenue Officer and the Legislative Fiscal Officer,
or the Legislative Assembly if it is in session, the amount of
General Fund revenues collected as of the last June 30 of the
preceding biennium. The report shall contain the collections from
corporate income and excise taxes separately from collections
from other sources.
(3) If the revenues received from the corporate income and
excise taxes during the biennium exceed the amounts estimated to
be received from such taxes for the biennium, as estimated after
adjournment sine die of the odd-numbered year regular session, by
two percent or more, the total amount of that excess shall be
credited to corporate income and excise taxpayers in a percentage
amount of prior year corporate excise and income tax liability as
Enrolled House Bill 2511 (HB 2511-INTRO) Page 1
determined under subsection (5) of this section. However, no
credit shall be allowed against tax liability imposed by ORS
317.090.
(4) If the revenues received from General Fund revenue sources,
exclusive of those described in subsection (3) of this section,
during the biennium exceed the amounts estimated to be received
from such sources for the biennium, as estimated after
adjournment sine die of the odd-numbered year regular session, by
two percent or more, there shall be credited to personal income
taxpayers an amount equal to the total amount of that excess,
reduced by the cost certified by the Department of Revenue under
ORS 291.351 as being allocable to credits described under this
subsection. The excess amount to be credited shall be credited to
personal income taxpayers in a percentage amount of prior year
personal income tax liability as determined under subsection (5)
of this section.
(5)(a) If there is an excess to be credited under subsection
(3) or (4) of this section, or both, on or before October 1,
following the end of each biennium, the Oregon Department of
Administrative Services shall determine and certify to the
Department of Revenue the percentage amounts of credit for
purposes of subsection (3) or (4) of this section. The percentage
amounts determined shall be percentage amounts to the nearest
one-tenth of a percent that will distribute the excess to be
credited either to corporate excise and income taxpayers or to
personal income taxpayers.
(b) The percentage amount applicable to subsection (3) of this
section shall equal the amount distributed under subsection (3)
of this section divided by the estimated total corporate income
and excise tax liability for all corporate income and excise
taxpayers for tax years beginning in the calendar year
immediately preceding the calendar year in which the excess is
determined.
(c) The amount of the surplus credit under subsection (3) of
this section is determined by multiplying the percentage amount
determined under paragraph (b) of this subsection by the total
amount of a corporate income or excise taxpayer's tax liability
for the tax year beginning in the calendar year immediately
preceding the calendar year in which the excess is determined in
order to calculate the amount to be credited to the taxpayer.
(d) The percentage amount applicable to subsection (4) of this
section shall equal the amount distributed under subsection (4)
of this section divided by the estimated total personal income
tax liability for all personal income taxpayers for tax years
beginning in the calendar year immediately preceding the calendar
year in which the excess is determined.
(e) The amount of the surplus credit under subsection (4) of
this section is determined by multiplying the percentage amount
determined under paragraph (d) of this subsection by the total
amount of a personal income taxpayer's tax liability for the tax
year beginning in the calendar year immediately preceding the
calendar year in which the excess is determined in order to
calculate the amount to be credited to the taxpayer.
(f) The credit shall be determined based on the tax liability
as shown on the return of the taxpayer or as corrected by the
Department of Revenue.
(g) The credit shall be computed after the allowance of a
credit provided under ORS 316.082, 316.131 or 316.292, but before
the allowance of any other credit or offset against tax liability
allowed or allowable under any provision of law of this state,
Enrolled House Bill 2511 (HB 2511-INTRO) Page 2
and before the application of estimated tax payments, withholding
or other advance tax payments.
(h) For corporate income and excise taxpayers, if a credit
applied against tax liability as described in paragraph (g) of
this subsection reduces tax liability to zero and an amount of
the credit remains unused, the remaining unused amount shall be
carried forward and applied against tax liability as prescribed
in paragraph (g) of this subsection in the succeeding tax year.
Following application of the credit against tax liability in a
succeeding tax year, any amount continuing to remain unused shall
be carried forward and applied against tax liability in a
succeeding tax year until all remaining amounts of unused credit
are offset against tax liability.
(i) For personal income taxpayers, if a credit applied against
tax liability as described in paragraph (g) of this subsection
reduces tax liability to zero and an amount of the credit remains
unused, the remaining unused amount shall be refunded to the
taxpayer. For purposes of ORS chapters 305, 314, 315 and 316,
refunds issued under this paragraph are refunds of an overpayment
of tax imposed under ORS chapter 316.
(j) Notwithstanding paragraph (g) of this subsection, if an
excess is credited under subsection (3) of this section for a tax
year and an unused credit amount from a prior tax year is carried
forward to the tax year as prescribed under paragraph (h) of this
subsection, the amount of the carryforward credit shall be
applied against tax liability prior to applying the new credit.
(k) The Department of Revenue may prescribe by rule the manner
of calculating and claiming a credit if the filing status of a
taxpayer changes between the tax year for which a credit may be
claimed and the succeeding tax year.
(6) A refund may not be made under this section to a taxpayer
if the amount of the refund is less than $1.
(7) Not later than October 15 following the end of the
biennium, the Department of Revenue shall provide information and
guidance to taxpayers relating to the calculation of the credit.
The department may make the information and guidance available
electronically or otherwise.
(8) The Department of Revenue may adopt rules specifying the
manner for issuing refunds under this section to taxpayers who
filed returns { - in - } { + for + } the tax year on which
the credit is computed but who are not required to file returns
{ - in - } { + for + } the year in which the credit could be
claimed.
SECTION 2. { + The amendments to ORS 291.349 by section 1 of
this 2013 Act apply to tax years beginning on or after January 1,
2012. + }
SECTION 3. { + This 2013 Act takes effect on the 91st day
after ? the date on which the 2013 regular session of the
Seventy-seventh Legislative Assembly adjourns sine die. + }
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Enrolled House Bill 2511 (HB 2511-INTRO) Page 3
Passed by House February 27, 2013
.............................................................
Ramona J. Line, Chief Clerk of House
.............................................................
Tina Kotek, Speaker of House
Passed by Senate May 8, 2013
.............................................................
Peter Courtney, President of Senate
Enrolled House Bill 2511 (HB 2511-INTRO) Page 4
Received by Governor:
......M.,............., 2013
Approved:
......M.,............., 2013
.............................................................
John Kitzhaber, Governor
Filed in Office of Secretary of State:
......M.,............., 2013
.............................................................
Kate Brown, Secretary of State
Enrolled House Bill 2511 (HB 2511-INTRO) Page 5
