SB 301 - Tax Law Amendments - Oregon Key Vote

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Title: Tax Law Amendments

Vote Smart's Synopsis:

Vote to pass a bill that amends the state's tax laws.

Highlights:

  • Specifies that debt incurred from certain capital construction projects, including the acquisition and installation of machinery or equipment, shall be exempt from taxation (Sec. 17).
  • Specifies that a reference to the laws of the United States or to the Internal Revenue Code refers to the laws of the United States or to the Internal Revenue Code as they are amended and in effect on December 31, 2010, even when the amendments take effect or become operative after that date (Secs. 21, 22).
  • Requires payment of inheritance tax as provided in existing state law without regard to extension in federal law (Sec. 30).
  • Authorizes decendents dying after December 31, 2009, and before December 17, 2010, a nine-month extension to file inheritance tax returns in conformity with extension provided under federal law (Sec. 30).

Committee Sponsors

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