SB 567 - Appropriates Excess Revenue to the Education Stability Fund - Oregon Key Vote
Herman Baertschiger, Jr. voted Yea (Concurrence Vote) on this Legislation.
Timeline
- Senate Concurrence Vote Failed
- July 3, 2015
- House Bill Passed
- July 1, 2015
- Senate Bill Passed
- May 19, 2015
- Introduced
- Feb. 3, 2015
Related Issues
Stage Details
Title: Appropriates Excess Revenue to the Education Stability Fund
Vote Smart's Synopsis:
Vote to concur with House amendments to pass a bill that appropriates excess revenue from capital gains taxes to the Education Stability Fund.
Highlights:
- Requires the Department of Administrative Services to estimate the annual revenue from taxable capital gains during the previous 3 consecutive years no later than May 15 of each odd-numbered year (Sec. 1).
- Requires the department to estimate the annual revenue from taxable capital gains from the previous 2 consecutive years no later than June 15 of the following odd-numbered year (Sec. 1).
- Requires the department to calculate the excess revenue, if any, of taxable capital gains from the most recent 2-year estimate divided by the previous 3-year estimate (Sec. 1).
- Requires the Department of Revenue to transfer funds equal to twice the amount of calculated excess revenue to the Education Stability Fund (Sec. 1).
- Requires the Department of Administrative Services to make the first estimate no later than May 15, 2017 (Sec. 2).
- Prohibits the department from making the first transfer to the Education Stability Fund prior to June 1, 2019 (Sec. 2).
Title: Appropriates Excess Revenue to the Education Stability Fund
Vote Smart's Synopsis:
Vote to pass a bill that appropriates excess revenue from capital gains taxes to the Education Stability Fund.
Highlights:
- Requires the Department of Administrative Services to estimate the annual revenue from taxable capital gains during the previous 3 consecutive years no later than May 15 of each odd-numbered year (Sec. 1).
- Requires the department to estimate the annual revenue from taxable capital gains from the previous 2 consecutive years no later than June 15 of the following odd-numbered year (Sec. 1).
- Requires the department to calculate the excess revenue, if any, of taxable capital gains from the most recent 2-year estimate divided by the previous 3-year estimate (Sec. 1).
- Requires the Department of Revenue to transfer funds equal to twice the amount of calculated excess revenue to the Education Stability Fund (Sec. 1).
- Requires the Department of Administrative Services to make the first estimate no later than May 15, 2017 (Sec. 2).
- Prohibits the department from making the first transfer to the Education Stability Fund prior to June 1, 2019 (Sec. 2).
Title: Appropriates Excess Revenue to the Education Stability Fund
Committee Sponsors
- Senate Committee On Finance and Revenue (Co-sponsor)