71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
HA to HB 2704
 
LC 2535/HB 2704-3
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2704
 
     By COMMITTEE ON SCHOOL FUNDING AND TAX FAIRNESS/REVENUE
 
                            April 26
 
  On page 1 of the printed bill, line 20, delete '$3,300' and
insert '$3,280'.
  In line 21, delete '$1,650' and insert '$1,640'.
  In line 23, delete '$1,650' and insert '$1,640'.
  After line 24, insert:
  ' (C)(i) For purposes of subparagraph (A) of this paragraph for
tax years beginning on or after January 1, 2003, the Department
of Revenue shall annually recompute the basic standard deduction
for each category of return filer listed under subparagraph (B)
of this paragraph. The basic standard deduction shall be computed
by dividing the average U.S. City Average Consumer Price Index
for the second quarter of the current calendar year by the
average U.S. City Average Consumer Price Index for the second
quarter of 2002, then multiplying that quotient by the amount
listed under subparagraph (B) of this paragraph for each category
of return filer.
  ' (ii) If any change in the maximum household income determined
under this subparagraph is not a multiple of $5, the increase
shall be rounded to the next lower multiple of $5.
  ' (iii) As used in this subparagraph, 'U.S. City Average
Consumer Price Index' means the U.S. City Average Consumer Price
Index for All Urban Consumers (All Items) as published by the
Bureau of Labor Statistics of the United States Department of
Labor.'.
  In line 25, delete '(C)' and insert '(D)'.
  In line 27, delete '(D)' and insert '(E)'.
  In line 29, delete '(E)' and insert '(F)'.
  On page 3, line 41, delete '(C)' and insert '(D)'.
  On page 4, line 3, delete '(C)' and insert '(D)'.
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