71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 4049
 
                         House Bill 3549
 
Sponsored by Representative G SMITH; Representatives BROWN,
  GARRARD, JENSON, KRUSE, LEE, NELSON, P SMITH, ZAUNER, Senator
  FERRIOLI
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Creates tax credit for teacher who is employed by small school
district.
  Applies to tax years beginning on or after January 1, 2002.
 
                        A BILL FOR AN ACT
Relating to taxation.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Section 2 of this 2001 Act is added to and made
a part of ORS chapter 315. + }
  SECTION 2.  { + (1) As used in this section:
  (a) 'ADMw' means the weighted average daily membership of the
school district for the prior fiscal year, as calculated under
ORS 327.013.
  (b) 'Small school district' means a school district with an
ADMw of less than 500.
  (c) 'Teacher' has the meaning given that term in ORS 342.120.
  (2) An annual credit against taxes otherwise due under ORS
chapter 316 is allowed in the amount of $___ to a taxpayer who is
a teacher employed by a small school district.
  (3) The amount of the credit shall not exceed the tax liability
of the taxpayer for the tax year for which the credit is claimed.
  (4) The Department of Education may establish by rule the
minimum number of hours per tax year a teacher must work at a
small school district to qualify for the credit allowed under
this section.
  (5)(a) A nonresident shall be allowed the credit provided under
this section in the same manner and subject to the same
limitations as the credit is allowed to a resident of this state.
However, the credit shall be prorated using the proportion
provided in ORS 316.117.
  (b) If a change in the tax year of a taxpayer occurs as
described in ORS 314.085, or if the Department of Revenue
terminates the taxpayer's tax year under ORS 314.440, the credit
allowed by this section shall be prorated or computed in a manner
consistent with ORS 314.085.
  (c) If a change in the status of a taxpayer from resident to
nonresident or from nonresident to resident occurs, the credit
allowed under this section shall be determined in a manner
consistent with ORS 316.117. + }
  SECTION 3.  { + Section 2 of this 2001 Act applies to tax years
beginning on or after January 1, 2002. + }
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