72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
HA to HB 2747
 
LC 2296/HB 2747-1
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2747
 
                 By COMMITTEE ON TRANSPORTATION
 
                             April 2
 
  On page 1 of the printed bill, delete lines 5 through 31 and
delete page 2 and insert:
  '  { +  SECTION 1. + }  { + Section 2 of this 2003 Act is added
to and made a part of ORS chapter 316. + }
  '  { +  SECTION 2. + }  { + (1) There shall be added to federal
taxable income of a taxpayer a positive amount that equals the
amount the taxpayer took as an expense deduction under section
179 of the Internal Revenue Code or as a depreciation deduction
under section 168 of the Internal Revenue Code for a four-wheeled
vehicle manufactured primarily for use on public streets, roads
and highways if the vehicle:
  ' (a) Is rated between 6,000 and 14,000 pounds gross vehicle
weight;
  ' (b) Is designed to seat nine or fewer individuals; and
  ' (c) Is not equipped with an open cargo area with an interior
length of 72 or more inches or does not have a covered box with
an interior length of 72 or more inches that is separate from the
passenger compartment.
  ' (2) For Oregon tax purposes, the adjusted basis of a vehicle
subject to this section shall equal the federal adjusted basis of
the vehicle.
  ' (3) This section does not apply to a taxpayer that filed a
Schedule F for federal tax purposes for the tax year. + }
  '  { +  SECTION 3. + }  { + Section 2 of this 2003 Act applies
to property placed into service in tax years beginning on or
after January 1, 2004. + }
  '  { +  SECTION 4. + }  { + Section 5 of this 2003 Act is added
to and made a part of ORS chapter 317. + }
  '  { +  SECTION 5. + }  { + (1) There shall be added to federal
taxable income of a taxpayer a positive amount that equals the
amount the taxpayer took as an expense deduction under section
179 of the Internal Revenue Code or as a depreciation deduction
under section 168 of the Internal Revenue Code for a four-wheeled
vehicle manufactured primarily for use on public streets, roads
and highways if the vehicle:
  ' (a) Is rated between 6,000 and 14,000 pounds gross vehicle
weight;
  ' (b) Is designed to seat nine or fewer individuals; and
  ' (c) Is not equipped with an open cargo area with an interior
length of 72 or more inches or does not have a covered box with
an interior length of 72 or more inches that is separate from the
passenger compartment.
  ' (2) For Oregon tax purposes, the adjusted basis of a vehicle
subject to this section shall equal the federal adjusted basis of
the vehicle.
  ' (3) This section does not apply to a taxpayer that filed a
Schedule F for federal tax purposes for the tax year. + }
  '  { +  SECTION 6. + } ORS 318.031 is amended to read:
  ' 318.031. It being the intention of the Legislative Assembly
that this chapter and the Corporation Excise Tax Law of 1929
shall be administered as uniformly as possible (allowance being
made for the difference in imposition of the taxes and the
operative date of this chapter), ORS 305.140 and 305.150, ORS
chapter 314 and the following sections are incorporated into and
made a part of this chapter: ORS 315.104, 315.134, 315.156,
315.204, 315.208, 315.213, 315.234, 315.254, 315.304, 315.504,
315.511 and 315.604 (all only to the extent applicable for a
corporation) and ORS 285B.773, 315.507, 317.010, 317.013, 317.018
to 317.022, 317.030, 317.035, 317.038, 317.080, 317.124 to
317.131, 317.152 to 317.154, 317.259 to 317.303, 317.310 to
317.386, 317.476 to 317.485, 317.488, 317.510 to 317.635 and
317.705 to 317.725 { +  and section 5 of this 2003 Act + }.
  '  { +  SECTION 7. + }  { + Section 5 of this 2003 Act and the
amendments to ORS 318.031 by section 6 of this 2003 Act apply to
property placed into service in tax years beginning on or after
January 1, 2004. + } ' .
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