75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
 
HA to HB 2157
 
LC 363/HB 2157-5
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2157
 
                     By COMMITTEE ON REVENUE
 
                           February 2
 
  On page 1 of the printed bill, line 5, after '316.012, ' insert
'316.013,' and after '317.010,' insert '317.018,'.
  On page 20, line 9, delete the colon.
  In line 10, delete '(A)' and delete '; or' and insert a period.
  Delete line 11.
  In line 14, delete 'except those described'.
  In line 15, delete 'in paragraph (b) of this subsection,'.
  On page 21, line 43, delete the colon.
  In line 44, delete '(1)' and delete '; or' and insert a period.
  Delete line 45.
  On page 22, line 27, delete the colon.
  In line 28, delete '(a)' and delete '; or' and insert a period.
  Delete line 29.
  On page 27, line 44, before 'Food' insert 'Economic Stimulus
Act of 2008 (P.L. 110-185), the Heroes Earnings Assistance and
Relief Tax Act of 2008 (P.L. 110-245), the'.
  In line 45, delete '(P.L. 110-245)' and insert '
(P.L. 110-246)'.
  On page 28, after line 31, insert:
  '  { +  SECTION 29. + } ORS 316.013 is amended to read:
  ' 316.013. Unless the context requires otherwise and
notwithstanding ORS 316.012, whenever, in the calculation of
Oregon taxable income, reference to the taxpayer's federal
adjusted gross income is required to be made, the taxpayer's
federal adjusted gross income shall be as determined under the
provisions of the Internal Revenue Code as they may be in effect
  { - for the tax year of the taxpayer - }   { + on December 31,
2008, + } without any of the additions, subtractions or other
modifications or adjustments required under this chapter and
other laws of this state applicable to personal income taxation.
  '  { +  SECTION 30. + } ORS 317.018 is amended to read:
  ' 317.018. It is the intent of the Legislative Assembly:
  ' (1) To make the Oregon corporate excise tax law, insofar as
it relates to the measurement of taxable income, identical to the
provisions of the federal Internal Revenue Code, as in effect and
applicable   { - for the tax year of the taxpayer - }  { +  on
December 31, 2008 + }, to the end that taxable income of a
corporation for Oregon purposes is the same as it is for federal
income tax purposes, subject to Oregon's jurisdiction to tax, and
subject to the additions, subtractions, adjustments and
modifications contained in this chapter.
  ' (2) To achieve the results desired under subsection (1) of
this section by application of the various provisions of the
federal Internal Revenue Code relating to the definitions for
corporations, of income, deductions, accounting methods,
accounting periods, taxation of corporations, basis and other
pertinent provisions relating to gross income. It is not the
intent of the Legislative Assembly to adopt federal Internal
Revenue Code provisions dealing with the computation of tax, tax
 
credits or any other provisions designed to mitigate the amount
of tax due.
  ' (3) To impose on each corporation doing business within this
state an excise tax for the privilege of carrying on or doing
that business measured by its federal taxable income as adjusted
in this chapter.'.
  In line 32, delete '29' and insert '31'.
                         ----------