72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
HA to A-Eng. HB 2747
 
LC 2296/HB 2747-A5
 
                       HOUSE AMENDMENTS TO
                   A-ENGROSSED HOUSE BILL 2747
 
                     By COMMITTEE ON REVENUE
 
                             May 28
 
  On page 1 of the printed A-engrossed bill, delete lines 5
through 27 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 three
times 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 6,001 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 inches or more or does not have a covered box with
an interior length of 72 inches or more 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 vehicle that is used
predominantly:
  ' (a) In the business of farming, as defined in ORS 316.045;
  ' (b) For the purpose of transporting employees or customers of
a business that is engaged in the timber or wood-products
industry or cargo or equipment related to the timber or
wood-products industry; or
  ' (c) For the purpose of transporting employees or customers of
a construction business or cargo or equipment used in
construction. For purposes of this paragraph, a construction
business does not include real estate sales operations. + }
  '  { +  SECTION 3. + }  { + Section 2 of this 2003 Act applies
to property placed in 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 three
times 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 6,001 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 inches or more or does not have a covered box with
 
an interior length of 72 inches or more 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 vehicle that is used
predominantly:
  ' (a) In the business of farming, as defined in ORS 316.045;
  ' (b) For the purpose of transporting employees or customers of
a business that is engaged in the timber or wood-products
industry or cargo or equipment related to the timber or
wood-products industry; or
  ' (c) For the purpose of transporting employees or customers of
a construction business or cargo or equipment used in
construction. For purposes of this paragraph, a construction
business does not include real estate sales operations. + }
  '  { +  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 in service in tax years beginning on or after
January 1, 2004. + } ' .
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