House Bill 2543

Revises homestead property tax deferral program by imposing maximum net worth limit and minimum homestead residence requirement on claimants and maximum real market value limit on homestead. Denies deferral if deferred homestead taxes of any claimant have been deferred and are delinquent or have been canceled. Establishes maximum number of claims that may be granted annually to taxpayers who have not previously been granted deferral. Changes interest on deferred amounts to six percent compounded annually, for property tax years beginning on or after July 1, 2011. Makes Department of Revenue's obligation to pay deferred amounts subject to available funds. Eliminates limit on lien for deferred amounts owed by person with disability. Discontinues deferral for assessment year if disqualifying circumstance occurs before September 1. Requires claimants to certify eligibility every second year. Eliminates graduated reduction in deferral for year in which claimant income exceeds eligibility limits. Eliminates department's responsibility to determine claimant income for purposes of deferral program limits. Eliminates extension of repayment by transferees of homestead. Makes certain transferees jointly and severally liable for deferred amounts to extent of real market value of homestead. Authorizes department to enter into intergovernmental agreement to offset deferred amounts payable by transferees against federal tax refunds. Authorizes department to issue warrants for overdue amounts payable by transferees. Prohibits homestead on which deferred amounts remain outstanding to be pledged as security for reverse mortgage. Eliminates annual payments to Oregon Project Independence Fund of certain excess amounts in Senior Property Tax Deferral Revolving Account. Prohibits claims for deferral for property tax years beginning after July 1, 2021. Prohibits new claims for deferral of special assessment for local improvements on or after effective date of Act. Takes effect on 91st day following adjournment sine die.

• House of Representatives, third reading58–0

  Passed · May 12 · 2 present

• Senate, third reading29–0

  Passed · Jun 21 · 1 present

• House of Representatives, concurrence56–0

  Agreed to the other chamber's changes · Jun 22 · 4 present

• House of Representatives committee amendmentAdopted

  Adopted May 9

• Senate committee amendmentAdopted

  Adopted Jun 17

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In the House of Representatives Jan 11 – May 12

1. Jan 11Introduced
2. Jan 21Sent to Revenue
3. Feb 11Heard in Revenue
4. Mar 4Heard in Revenue
5. Apr 7Heard in Revenue
6. Apr 14Heard in Revenue
7. Apr 27Heard in Revenue
8. Apr 29Heard in Revenue
9. May 4Heard in Revenue
10. May 9Revenue recommended it as amended
11. May 11Read a second time
12. May 12Passed the House of Representatives, 58 to 0

In the Senate May 16 – Jun 21

1. May 16Arrived in the Senate
2. May 17Sent to Finance and Revenue
3. May 25Heard in Finance and Revenue
4. May 27Heard in Finance and Revenue
5. Jun 8Heard in Finance and Revenue
6. Jun 10Heard in Finance and Revenue
7. Jun 13Heard in Finance and Revenue
8. Jun 15Heard in Finance and Revenue
9. Jun 17Finance and Revenue recommended it as amended
10. Jun 20Read a second time
11. Jun 21Passed the Senate, 29 to 0

Back in the House of Representatives Jun 22 – Jun 29

1. Jun 22The House of Representatives agreed to the Senate's amendments and passed it again, 56 to 0
2. Jun 29Signed in the House of Representatives

To the Governor Jun 29 – Aug 5

1. Jun 29Signed in the Senate
2. Aug 5Signed by the Governor
3. Became chapter 723 of Oregon Laws 2011, in force from September 29, 2011