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SB 1527 - Requires Taxpayers to Keep Records - Oregon Key Vote

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Title: Requires Taxpayers to Keep Records

Vote Smart's Synopsis:

Vote to pass a bill that requires taxpayers keep records and amend provisions regarding first-time home buyers in the state of Oregon.

Highlights:

  • Requires taxpayers to keep records for accounts and amends and modifies accounts for first-time home buyers and r starting in 2025 (Sec. 1-8).

  • Repeals the requirement that a financial institution provide an annual certificate with account details to account holders (Sec. 1-8).

  • Authorizes an account holder to designate a proposed first-time home buyer as a beneficiary of the account (Sec. 1-8).

  • Specifies information that must be maintained by a taxpayer claiming a subtraction or exemption for accounts. Limits Department of Revenue rulemaking (Sec. 1-8).

  • Specifies that the provisions of this bill shall take effect 91 days following the final adjournment date of the current legislative session (Sec. 8).

Full Bill Text

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