71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
SA to A-Eng. HB 2281
 
LC 1911/HB 2281-A4
 
                      SENATE AMENDMENTS TO
                   A-ENGROSSED HOUSE BILL 2281
 
                     By COMMITTEE ON REVENUE
 
                             May 31
 
  On page 1 of the printed A-engrossed bill, after line 14,
insert:
  '  { +  SECTION 2a. + }  { + Section 2b is added to and made a
part of ORS 314.650 to 314.665. + }
  '  { +  SECTION 2b. + }  { + (1) As used in this section:
  ' (a) 'Telecommunications' means business operations that
conduct, maintain or provide access to facilities for the
transmission of voice data and text between network termination
points and telecommunications reselling. Transmission facilities
may be based on one technology or a combination of technologies.
  ' (b) 'Utilities' means business operations that provide
electric power, natural gas, steam supply, water supply and
sewage removal through a permanent infrastructure of lines, mains
and pipes.
  ' (2) A corporation subject to tax under ORS chapter 317 that
is primarily engaged in utilities or telecommunications may elect
to have business income apportioned under this section in lieu of
ORS 314.650.
  ' (3) If a corporation described in subsection (2) of this
section elects to apportion business income under this section,
all business income of the corporation shall be apportioned to
this state by multiplying the income by a multiplier that
consists of 50 percent of the sales factor plus 25 percent of the
property factor plus 25 percent of the payroll factor.
  ' (4) The election shall be made in the time and manner
prescribed by the Department of Revenue by rule. The election
shall continue in force and effect for the tax year for which the
election is made and for each subsequent tax year until the year
in which the corporation revokes the election.
  ' (5) An electing corporation may revoke the corporation's
election by filing a revocation of election in the time and
manner prescribed by the department. The revocation shall apply
to the tax year following the year in which the election is made
and to each subsequent tax year.
  ' (6) Upon revocation, the business income of the corporation
shall be apportioned as prescribed in ORS 314.650. + }
  '  { +  SECTION 2c. + }  { + Section 2b of this 2001 Act
applies to tax years beginning on or after January 1, 2003. + } '
.
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