Chapter 747 Oregon Laws 1999

Session Law

AN ACT

HB 3497

Relating to taxation.

Be It Enacted by the People of the State of Oregon:

SECTION 1. Section 2 of this 1999 Act is added to and made a part of ORS chapter 316.

SECTION 2. (1) There shall be subtracted from federal taxable income amounts received from a scholarship awarded to the taxpayer or a dependent of the taxpayer that are used for housing expenses of the scholarship recipient at the time the scholarship recipient is attending an accredited community college, college, university or other institution of higher education.

(2) A subtraction may not be allowed under this section if the amounts described in subsection (1) of this section:

(a) Are not included in the taxpayer's federal gross income for the tax year; or

(b) Are taken into account as a deduction on the taxpayer's federal income tax return for the tax year.

SECTION 3. Section 2 of this 1999 Act applies to tax years beginning on or after January 1, 2000.

Approved by the Governor July 16, 1999

Filed in the office of Secretary of State July 16, 1999

Effective date October 23, 1999

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