74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
Enrolled
House Bill 2031
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
Presession filed (at the request of House Interim Committee on
Revenue for Oregon Association of County Tax Collectors) + }
CHAPTER ................
AN ACT
Relating to taxation; and prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + (1) For a tax year that begins on or after
January 1, 2007, and before January 1, 2008, a taxpayer that is a
C corporation as defined in ORS 314.730 and that has Oregon sales
for the tax year of less than $5 million shall be allowed a
credit against taxes that would otherwise be due under ORS
chapter 317 or 318 equal to 67 percent of those taxes.
(2) As used in this section, 'Oregon sales' means:
(a) If the taxpayer apportions business income under ORS
314.650 to 314.665 for Oregon income tax purposes, the total
sales of the taxpayer in this state during the tax year, as
determined for purposes of ORS 314.665;
(b) If the taxpayer does not apportion business income for
Oregon income tax purposes, the total sales in this state during
the tax year that the taxpayer would have had, as determined for
purposes of ORS 314.665, if the taxpayer were required to
apportion business income for Oregon income tax purposes; or
(c) If the taxpayer apportions business income using a method
different from that prescribed by ORS 314.650 to 314.665, Oregon
sales as defined by the Department of Revenue by rule. + }
SECTION 2. { + Section 1 of this 2007 Act is added to and made
a part of ORS chapter 317. + }
SECTION 3. { + Sections 1 and 2 of this 2007 Act do not become
operative unless C-engrossed House Bill 2707 is passed by both
houses of the Legislative Assembly and signed by the Governor on
or before March 16, 2007. + }
SECTION 4. { + This 2007 Act takes effect on the 91st day
after the date on which the regular session of the Seventy-fourth
Legislative Assembly adjourns sine die. + }
----------
Enrolled House Bill 2031 (HB 2031-B) Page 1
Passed by House March 8, 2007
...........................................................
Chief Clerk of House
...........................................................
Speaker of House
Passed by Senate March 15, 2007
...........................................................
President of Senate
Enrolled House Bill 2031 (HB 2031-B) Page 2
Received by Governor:
......M.,............., 2007
Approved:
......M.,............., 2007
...........................................................
Governor
Filed in Office of Secretary of State:
......M.,............., 2007
...........................................................
Secretary of State
Enrolled House Bill 2031 (HB 2031-B) Page 3