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 4175
 
                         Senate Bill 959
 
Sponsored by Senator METSGER
 
 
                             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.
 
  Requires outstanding federal retiree refunds to be made prior
to July 1, 2001. Modifies surplus kicker refund determination for
1999-2001 biennium so that kicker refund is made even if federal
retiree refund reduces excess revenues to less than two percent
kicker refund threshold. Requires kicker payments to be made as
soon as is practicable after end of 1999-2001 biennium.
  Declares emergency, effective on passage.
 
                        A BILL FOR AN ACT
Relating to required state payments; creating new provisions;
  amending section 2, chapter 996, Oregon Laws 1999; and
  declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. Section 2, chapter 996, Oregon Laws 1999, is amended
to read:
   { +  Sec. 2. + } (1) Notwithstanding ORS 305.270, 305.440 or
314.415 or any other provision of law establishing the finality
of a personal income tax assessment, the Department of Revenue
may issue a refund of personal income tax imposed on federal
pension income for tax years beginning on or after January 1,
1991, to the extent the tax had been imposed on federal pension
income attributable to federal employment occurring before
October 1, 1991.
  (2) A claim for refund under this section must be filed with
the department on or before April 16, 2001.
  (3)   { - No refunds may be paid - }  { +  All refunds + }
under this section  { +  must be paid + } prior to July 1, 2001.
  (4) As used in this section, 'federal pension' means any form
of retirement allowance provided by the federal government, its
agencies or its instrumentalities to retirees of the federal
government or their beneficiaries.
  SECTION 2.  { + (1) Notwithstanding ORS 291.349 (4) and without
regard to a two percent minimum threshold in excess revenues, any
amount of revenues from General Fund revenue sources, exclusive
of those described in ORS 291.349 (3), that exceeds the estimate
prepared pursuant to ORS 291.349 for the biennium beginning July
1, 1999, shall be paid to personal income taxpayers in a
percentage amount of prior year personal income tax liability as
determined under ORS 291.349 (6).
  (2) Subsection (1) of this section applies only if surplus
refund payments under ORS 291.349 (4) and (6) would have been
made for the biennium beginning July 1, 1999, if section 2,
chapter 996, Oregon Laws 1999, had not been amended by section 1
of this 2001 Act. + }
  SECTION 3.  { + Notwithstanding ORS 291.349, if refund payments
for the biennium beginning July 1, 1999, are to be made under ORS
291.349 (4) and (6) or section 2 of this 2001 Act, the refund
payments must be made as soon as is practicable after June 30,
2001. + }
  SECTION 4.  { + This 2001 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2001 Act takes effect on
passage. + }
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