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 3855
 
                         House Bill 3640
 
Sponsored by Representative WINTERS
 
 
                             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.
 
  Provides personal income tax credit for contributions made to
shelters for homeless persons, food kitchens, food banks or other
entity having as its primary purpose provision of overnight
accommodation, food or meals to persons who are indigent.
  Applies to tax years beginning on or after January 1, 2002.
 
                        A BILL FOR AN ACT
Relating to personal income taxes.
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) A credit is allowed against the taxes
otherwise due under ORS chapter 316 for the tax year. Subject to
subsection (2) of this section, the amount of the credit equals
50 percent of the amount actually contributed in money during the
tax year to a shelter for homeless persons, food kitchen, food
bank or other entity, the primary purpose of which is to provide
overnight accommodation, food or meals to persons who are
indigent. Credit is allowed under this section only for
contributions that are deductible for federal income tax purposes
under section 170 of the Internal Revenue Code.
  (2)(a) In the case of an individual, the credit allowed by this
section shall not exceed the lesser of:
  (A) The tax liability of the taxpayer; or
  (B) $100, or for a joint return, $200.
  (b) In the case of an estate or trust, the credit shall not
exceed the lesser of:
  (A) The tax liability of the taxpayer;
  (B) Ten percent of the tax liability of the taxpayer under ORS
chapter 316 for the tax year before claiming any other credits
allowed to an estate or trust for purposes of ORS chapter 316; or
  (C) $5,000.
  (c) If in determining the amount of the credit for any tax
year, the amount allowed as a deduction under section 170 of the
Internal Revenue Code is included in the amount of contributions
upon which the credit is based, the amount allowed as a deduction
shall be added to federal taxable income for purposes of ORS
chapter 316.
  (3) The credit allowed under this section shall be allowed to a
nonresident individual, estate or trust in the same manner as the
credit is allowed to a resident individual, estate or trust.
  (4) Any tax credit otherwise allowable under this section that
is not used by the taxpayer in a particular tax year may be
carried forward and offset against the tax liability of the
taxpayer for the next succeeding tax year. Any credit remaining
unused in the next succeeding tax year may be carried forward and
used in the second succeeding tax year. Any credit remaining
unused in the second succeeding tax year may be carried forward
and used in the third succeeding tax year. Any credit remaining
unused in the third succeeding tax year may be carried forward
and used in the fourth succeeding tax year. Any credit remaining
unused in the fourth succeeding tax year may be carried forward
and used in the fifth succeeding tax year, but may not be used in
any tax year thereafter. + }
  SECTION 3.  { + Section 2 of this 2001 Act applies to
contributions made in tax years beginning on or after January 1,
2002. + }
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