Chapter 318 Oregon Laws 2003

AN ACT

SB 292

Relating to taxation; amending section 5, chapter 695, Oregon Laws 1985.

Be It Enacted by the People of the State of Oregon:

SECTION 1. Section 5, chapter 695, Oregon Laws 1985, as amended by section 1, chapter 989, Oregon Laws 1989, and section 2, chapter 373, Oregon Laws 1997, is amended to read:

Sec. 5. (1) Except as provided in subsection (2) of this section, ORS 317.151 and 318.106 apply to contributions made in tax years beginning [on or after January 1, 1986, and] prior to January 1, [2004] 2010.

(2) With respect to the credit allowed for a contribution as described in ORS 317.151 (3)(b) if a written contract or other written agreement to make the contribution is entered into prior to January 1, [2004] 2010, and the moneys contributed after that date are contributed pursuant to the contract or agreement, then notwithstanding subsection (1) of this section, the credit allowed as described in ORS 317.151 (3)(b) shall be allowed for those contributions made pursuant to the written contract or other written agreement entered into prior to January 1, [2004] 2010.

Approved by the Governor June 12, 2003

Filed in the office of Secretary of State June 12, 2003

Effective date January 1, 2004

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