74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
HA to A-Eng. HB 2294
LC 428/HB 2294-A3
HOUSE AMENDMENTS TO
A-ENGROSSED HOUSE BILL 2294
By COMMITTEE ON REVENUE
May 16
On page 1 of the printed A-engrossed bill, line 2, after '
196.810,' insert '314.752,'.
In line 4, before '498.311' insert '315.138,'.
On page 7, after line 23, insert:
' { + SECTION 2a. + } { + ORS 315.138 is repealed. + }
' { + SECTION 2b. + } { + The repeal of ORS 315.138 by
section 2a of this 2007 Act becomes operative on January 2,
2014. + } ' .
On page 14, after line 37, insert:
' { + SECTION 13. + } ORS 314.752 is amended to read:
' 314.752. (1) Except as provided in ORS 314.740 (5)(b), the
tax credits allowed or allowable to a C corporation for purposes
of ORS chapter 317 or 318 shall not be allowed to an S
corporation. The business tax credits allowed or allowable for
purposes of ORS chapter 316 shall be allowed or are allowable to
the shareholders of the S corporation.
' (2) In determining the tax imposed under ORS chapter 316, as
provided under ORS 314.734, on income of the shareholder of an S
corporation, there shall be taken into account the shareholder's
pro rata share of business tax credit (or item thereof) that
would be allowed to the corporation (but for subsection (1) of
this section) or recapture or recovery thereof. The credit (or
item thereof), recapture or recovery shall be passed through to
shareholders in pro rata shares as determined in the manner
prescribed under section 1377(a) of the Internal Revenue Code.
' (3) The character of any item included in a shareholder's pro
rata share under subsection (2) of this section shall be
determined as if such item were realized directly from the source
from which realized by the corporation, or incurred in the same
manner as incurred by the corporation.
' (4) If the shareholder is a nonresident and there is a
requirement applicable for the business tax credit that in the
case of a nonresident the credit be allowed in the proportion
provided in ORS 316.117, then that provision shall apply to the
nonresident shareholder.
' (5) As used in this section, 'business tax credit' means a
tax credit granted to personal income taxpayers to encourage
certain investment, to create employment, economic opportunity or
incentive or for charitable, educational, scientific, literary or
public purposes that is listed under this subsection as a
business tax credit or is designated as a business tax credit by
law or by the Department of Revenue by rule and includes but is
not limited to the following credits: ORS 285C.309 (tribal taxes
on reservation enterprise zones), ORS 315.104 (forestation and
reforestation), ORS 315.134 (fish habitat improvement), { - ORS
315.138 (fish screening, by-pass devices, fishways), - } ORS
315.156 (crop gleaning), ORS 315.164 and 315.169 (farmworker
housing), ORS 315.204 (dependent care assistance), ORS 315.208
(dependent care facilities), ORS 315.213 (contributions for child
care), ORS 315.254 (youth apprenticeship sponsorship), ORS
315.304 (pollution control facility), ORS 315.324 (plastics
recycling), ORS 315.354 and ORS 469.207 (energy conservation
facilities), ORS 315.507 (electronic commerce), ORS 315.511
(advanced telecommunications facilities), ORS 315.604 (bone
marrow transplant expenses) and ORS 317.115 (fueling stations
necessary to operate an alternative fuel vehicle).
' { + SECTION 14. + } ORS 496.303, as amended by section 3 of
this 2007 Act, is amended to read:
' 496.303. (1) The Fish and Wildlife Account is established in
the State Treasury, separate and distinct from the General Fund.
All moneys in the account are continuously appropriated to the
State Fish and Wildlife Commission. The Fish and Wildlife Account
shall consist of the moneys in its various subaccounts and any
moneys transferred to the account by the Legislative Assembly.
Unless otherwise specified by law, interest earnings on moneys in
the account shall be paid into the State Treasury and credited to
the State Wildlife Fund.
' (2)(a) The Fish Screening Subaccount is established in the
Fish and Wildlife Account. The subaccount shall consist of:
' (A) All penalties recovered under ORS 536.900 to 536.920.
' (B) All moneys received pursuant to ORS 498.306.
' (C) All gifts, grants and other moneys from whatever source
that may be used to carry out the provisions of ORS 498.306.
' (D) All moneys received from the surcharge on angling
licenses imposed by ORS 497.124.
' (b) All moneys in the subaccount shall be used to carry out
the provisions of ORS { - 315.138, - } 498.306 and 509.620.
However, moneys received from the surcharge on angling licenses
imposed by ORS 497.124 shall be expended only to carry out the
provisions of law relating to the screening of water diversions.
' (3) The Fish Endowment Subaccount is established in the Fish
and Wildlife Account. The subaccount shall consist of transfers
of moneys authorized by the Legislative Assembly from the State
Wildlife Fund and gifts and grants of moneys from whatever source
for the purpose of paying the expense of maintaining fish
hatcheries operated by the department.
' (4) The Migratory Waterfowl Subaccount is established in the
Fish and Wildlife Account. All moneys received by the commission
from the sale of art works and prints related to the migratory
waterfowl stamp shall be deposited in the subaccount. Moneys in
the subaccount may be expended only for activities that promote
the propagation, conservation and recreational uses of migratory
waterfowl and for activities related to the design, production,
issuance and arrangements for sale of the migratory waterfowl
stamps and related art works and prints. Expenditures of moneys
in the subaccount may be made within this state, in other states
or in foreign countries, in such amounts as the commission
determines appropriate. Expenditures in other states and foreign
countries shall be on such terms and conditions as the commission
determines will benefit most directly the migratory waterfowl
resources of this state.
' (5) The Halibut Research Subaccount is established in the
Fish and Wildlife Account. Based on the annual number of
recreational halibut anglers, a portion of the moneys derived
from the sale of the salmon, steelhead trout, sturgeon and
halibut tag pursuant to ORS 497.121 shall be credited to the
subaccount. Moneys in the subaccount may be expended only for
halibut population studies and other research.
' (6) The Upland Bird Subaccount is established in the Fish and
Wildlife Account. All moneys received by the State Fish and
Wildlife Commission from the sale of upland bird stamps, from the
sale of any art works and prints related to the upland bird stamp
and from private hunting preserve permit fees shall be deposited
in the subaccount. Moneys in the subaccount may be expended only
for promoting the propagation and conservation of upland birds
and the acquisition, development, management, enhancement, sale
or exchange of upland bird habitat, and for activities related to
the design, production, issuance and arrangements for sale of the
upland bird stamps and related art works and prints. Expenditures
of moneys in the subaccount shall be made for the benefit of
programs within this state in such amounts and at such times as
the commission determines appropriate to most directly benefit
the upland bird resources of the state.
' (7)(a) The Fish and Wildlife Deferred Maintenance Subaccount
is established in the Fish and Wildlife Account. Interest
earnings on moneys in the subaccount shall be credited to the
subaccount. The subaccount shall consist of moneys authorized by
the Legislative Assembly from the State Wildlife Fund and moneys
obtained by gift, grant, bequest or donation from any other
public or private source.
' (b) The principal in the subaccount may be utilized only as
provided in paragraph (c) of this subsection. Interest earnings
on the moneys in the subaccount may be expended only for the
maintenance of fish hatcheries and State Department of Fish and
Wildlife facilities other than administrative facilities located
in Salem.
' (c) The department may borrow funds from the principal of the
subaccount to maintain adequate cash flow requirements. However,
moneys borrowed from the principal must be repaid to the
subaccount:
' (A) Within six months from the date on which the moneys were
borrowed.
' (B) With interest at the standard rate that the State
Treasurer charges to state agencies for other loans. Interest
paid under this subparagraph shall be paid to the subaccount.
' (d) For purposes of this subsection, 'principal' means moneys
authorized by the Legislative Assembly for transfer to the
subaccount from the State Wildlife Fund, including any assignment
of earnings on moneys in the fund and other moneys obtained by
gift, grant, bequest or donation deposited into the subaccount.
' (8) The Access and Habitat Board Subaccount is established in
the Fish and Wildlife Account. The subaccount shall consist of
moneys transferred to the subaccount pursuant to ORS 496.242.
Moneys in the subaccount may be used for the purposes specified
in ORS 496.242.
' (9) The Marine Shellfish Subaccount is established in the
Fish and Wildlife Account. Interest earnings on moneys in the
subaccount shall be credited to the subaccount. All moneys
received by the commission from the sale of resident and
nonresident shellfish licenses pursuant to ORS 497.121 shall be
deposited in the subaccount. Moneys in the subaccount shall be
used for the protection and enhancement of shellfish for
recreational purposes, including shellfish sanitation costs and
the cost of enforcement of wildlife laws pertaining to the taking
of shellfish. The State Fish and Wildlife Director, or a
designee, the Director of Agriculture, or a designee, and the
Superintendent of State Police, or a designee, shall jointly make
a recommendation to the Governor for inclusion in the Governor's
budget beginning July 1 of each odd-numbered year.
' (10)(a) The Mountain Sheep Subaccount is established in the
Fish and Wildlife Account, consisting of moneys collected under
ORS 497.112 (2)(a) to (c).
' (b) All moneys in the subaccount shall be used for the
propagation and conservation of mountain sheep, for research,
development, management, enhancement and sale or exchange of
mountain sheep habitat and for programs within the state that in
the discretion of the commission most directly benefit mountain
sheep resources of this state.
' (11)(a) The Antelope Subaccount is established in the Fish
and Wildlife Account, consisting of moneys collected under ORS
497.112 (2)(a) to (c).
' (b) All moneys in the subaccount shall be used for the
propagation and conservation of antelope, for research,
development, management, enhancement and sale or exchange of
antelope habitat and for programs within the state that in the
discretion of the commission most directly benefit antelope
resources of this state.
' (12)(a) The Mountain Goat Subaccount is established in the
Fish and Wildlife Account, consisting of moneys collected under
ORS 497.112 (2)(a) to (c).
' (b) All moneys in the subaccount shall be used for the
propagation and conservation of mountain goats for research,
development, management, enhancement and sale or exchange of
mountain goat habitat and for programs within the state that in
the discretion of the commission most directly benefit mountain
goat resources of this state.
' (13)(a) The commission shall keep a record of all moneys
deposited in the Fish and Wildlife Account. The record shall
indicate by separate cumulative accounts the sources from which
the moneys are derived and the individual activity or programs
against which each withdrawal is charged.
' (b) Using the record created pursuant to paragraph (a) of
this subsection, the commission shall report, in the budget
documents submitted to the Legislative Assembly, on the
application of investment and interest earnings to the
maintenance of fish hatcheries and other State Department of Fish
and Wildlife facilities.
' { + SECTION 15. + } { + The amendments to ORS 314.752 and
496.303 by sections 13 and 14 of this 2007 Act become operative
on January 2, 2014. + } ' .
In line 38, delete '13' and insert '16'.
In line 39, delete '14' and insert '17'.
In line 41, after '2008' insert ', and before January 1, 2014'.
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