76th OREGON LEGISLATIVE ASSEMBLY--2012 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 89
B-Engrossed
House Bill 4005
Ordered by the House February 23
Including House Amendments dated February 10 and February 23
Introduced and printed pursuant to House Rule 12.00. Presession
filed (at the request of House Interim Committee on Agriculture
and Natural Resources)
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.
Establishes credit against income taxes in compensation for
loss of livestock due to { - cougar or - } wolf depredation.
{ + Requires State Department of Fish and Wildlife to issue
written certification for tax credits and prohibits department
from issuing certifications for more than $15,000 in tax credits
in any tax year. Provides that certifications are to be issued in
order received. Disallows tax credit if State Fish and Wildlife
Commission has removed wolf from list of endangered species. + }
Provides that, if tax credit exceeds taxes for tax year, amount
of excess is refunded to taxpayer.
Applies to tax years beginning on or after January 1,
2012 { + , and before January 1, 2019 + }.
Takes effect on 91st day following adjournment sine die.
A BILL FOR AN ACT
Relating to a tax credit for livestock killed by predators; and
prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + Section 2 of this 2012 Act is added to and made
a part of ORS chapter 315. + }
SECTION 2. { + (1) As used in this section, 'livestock' has
the meaning given that term in ORS 610.150.
(2) A credit against taxes imposed under ORS chapter 316 (or,
if the taxpayer is a corporation, under ORS chapter 317 or 318)
shall be allowed for the current market value of any livestock
that belongs to the taxpayer and that is killed during the tax
year by a wolf.
(3) In order to qualify for the credit allowed under this
section, the taxpayer must obtain written certification from the
State Department of Fish and Wildlife as provided in subsection
(4) of this section.
(4)(a) The State Department of Fish and Wildlife shall issue
written certification to taxpayers that are eligible to claim the
credit allowed under this section. Before issuing a certification
under this subsection, the department must possess evidence that
the loss to a taxpayer's livestock is due to wolf depredation.
The evidence must include a finding by the department or by a
peace officer, as defined in ORS 161.015, that wolf depredation
was the probable cause of the loss.
(b) The department may not issue certifications for more than
$15,000 in tax credits for any tax year. The department shall
issue certifications to taxpayers in the order in which completed
applications for certification are received by the department.
(5) A credit allowed under this section shall be reduced by any
amount that a taxpayer has already received as compensation for
the killed livestock, including compensation pursuant to ORS
610.150.
(6) A taxpayer may not claim a credit under this section for:
(a) Any tax year that ends after the date on which the State
Fish and Wildlife Commission has, by rule, removed the wolf from
the list of endangered species established pursuant to ORS
496.172 (2); or
(b) A loss to livestock killed after June 30, 2018.
(7) If the amount allowable as a credit under this section,
when added to the sum of the amounts allowable as payment of tax
under ORS 316.187 (withholding), ORS 316.583 (estimated tax),
other tax prepayment amounts and other refundable credit amounts,
exceeds the taxes imposed by ORS chapters 314 and 316 for the tax
year (reduced by any nonrefundable credits allowable for purposes
of ORS chapter 316 for the tax year), the amount of the excess
shall be refunded to the taxpayer as provided in ORS 316.502.
(8) The credit shall be claimed on a form prescribed by the
Department of Revenue that contains the information required by
the department.
(9) Any tax credit otherwise allowable under this section that
is not used by the taxpayer in a particular tax year may be
carried forward and offset against the taxpayer's tax liability
for the next succeeding tax year. Any credit remaining unused in
the next succeeding tax year may be carried forward and used in
the second succeeding tax year, and likewise any credit not used
in that second succeeding tax year may be carried forward and
used in the third succeeding tax year, but may not be carried
forward for any tax year thereafter.
(10) In the case of a credit allowed under this section:
(a) A nonresident shall be allowed the credit in the proportion
provided in ORS 316.117.
(b) If a change in the status of the taxpayer from resident to
nonresident or from nonresident to resident occurs, the credit
shall be determined in a manner consistent with ORS 316.117.
(c) If a change in the taxable year of the taxpayer occurs as
described in ORS 314.085, or if the department terminates the
taxpayer's taxable year under ORS 314.440, the credit shall be
prorated or computed in a manner consistent with ORS 314.085. + }
SECTION 3. { + Section 2 of this 2012 Act applies to tax years
beginning on or after January 1, 2012, and before January 1,
2019. + }
SECTION 4. { + This 2012 Act takes effect on the 91st day
after the date on which the 2012 regular session of the
Seventy-sixth Legislative Assembly adjourns sine die. + }
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