72nd OREGON LEGISLATIVE ASSEMBLY--2003 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 3519
 
                    House Joint Resolution 54
 
Sponsored by Representative FLORES
 
 
                             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.
 
  Proposes amendment to Oregon Constitution to modify kicker
refund to allocate amounts that exceed, by five percent or more,
actual collection of revenues received by General Fund for
previous biennium. Distributes amount of excess to taxpayers, to
account that dedicates moneys to purposes deemed to be
emergencies by Legislative Assembly and to General Fund.
  Applies to biennia beginning on or after July 1, 2003.
  Refers proposed amendment to people for their approval or
rejection at next regular general election.
 
                        JOINT RESOLUTION
Be It Resolved by the Legislative Assembly of the State of
  Oregon:
  PARAGRAPH 1. The Constitution of the State of Oregon is amended
by creating a new section 14a to be added to and made a part of
Article IX, and by amending section 14, Article IX, such sections
to read:
   { +  Sec. 14. + }   { - (1) As soon as is practicable after
adjournment sine die of a regular session of the Legislative
Assembly, the Governor shall cause an estimate to be prepared of
revenues that will be received by the General Fund for the
biennium beginning July 1. The estimated revenues from corporate
income and excise taxes shall be separately stated from the
estimated revenues from other General Fund sources. - }
    { - (2) - }  { +  (1) + } As soon as is practicable after the
end of the biennium, the Governor shall cause actual collections
of revenues received by the General Fund for that biennium to be
determined.  The revenues received from corporate income and
excise taxes shall be determined separately from the revenues
received from other General Fund sources.
    { - (3) - }  { +  (2) + } If the revenues received by the
General Fund from corporate income and excise taxes during the
biennium exceed the amount   { - estimated to be - }  received
from corporate income and excise taxes for the  { + previous + }
biennium, by   { - two - }  { +  five + } percent or more, the
total amount of the excess shall be returned  { + as follows:
  (a) Forty percent + } to corporate income and excise taxpayers.
   { +  (b) Forty percent to an account that dedicates moneys in
the account to purposes deemed to be emergencies by the
Legislative Assembly.
  (c) Twenty percent to the General Fund. + }
    { - (4) - }  { +  (3) + } If the revenues received from
General Fund revenue sources, exclusive of those described in
subsection   { - (3) - }  { +  (2) + } of this section, during
the biennium exceed the amount   { - estimated to be - }
received from such sources for the  { + previous + } biennium, by
 { - two - }  { +  five + } percent or more, the total amount of
the excess shall be returned  { + as follows:
  (a) Forty percent + } to personal income taxpayers.   { +
  (b) Forty percent to an account that dedicates moneys in the
account to purposes deemed to be emergencies by the Legislative
Assembly.
  (c) Twenty percent to the General Fund. + }
    { - (5) - }  { +  (4) + } The Legislative Assembly may enact
laws:
  (a) Establishing a tax credit, refund payment or other
mechanism by which the excess revenues are returned to taxpayers,
and establishing administrative procedures connected therewith.
  (b) Allowing the excess revenues to be reduced by
administrative costs associated with returning the excess
revenues.
  (c) Permitting a taxpayer's share of the excess revenues not to
be returned to the taxpayer if the taxpayer's share is less than
a de minimis amount identified by the Legislative Assembly.
  (d) Permitting a taxpayer's share of excess revenues to be
offset by any liability of the taxpayer for which the state is
authorized to undertake collection efforts.
    { - (6)(a) Prior to the close of a biennium for which an
estimate described in subsection (1) of this section has been
made, the Legislative Assembly, by a two-thirds majority vote of
all members elected to each House, may enact legislation
declaring an emergency and increasing the amount of the estimate
prepared pursuant to subsection (1) of this section. - }
    { - (b) The prohibition against declaring an emergency in an
act regulating taxation or exemption in section 1a, Article IX of
this Constitution, does not apply to legislation enacted pursuant
to this subsection. - }
    { - (7) - }  { +  (5) + } This section does not apply:
  (a) If, for a biennium or any portion of a biennium, a state
tax is not imposed on or measured by the income of individuals.
  (b) To revenues derived from any minimum tax imposed on
corporations for the privilege of carrying on or doing business
in this state that is imposed as a fixed amount and that is
nonapportioned (except for changes of accounting periods).
  (c) To biennia beginning before July 1, 2001.
   { +  SECTION 14a. (1) The amendment to section 14 of this
Article by House Joint Resolution 54 (2003) applies to biennia
beginning on or after July 1, 2003.
  (2) This section is repealed June 30, 2007. + }
 
  PARAGRAPH 2. { +  The amendment proposed by this resolution
shall be submitted to the people for their approval or rejection
at the next regular general election held throughout this
state. + }
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