l9n/ Oregon

2011 Regular Session

Senate Bill 824

Allows deferral of gain, for purposes of state personal income taxes, on sale or other disposition of capital assets if proceeds are reinvested in qualified business interest, qualified investment fund or qualified business asset.

Did not become law. It stopped in the Senate's Finance and Revenue Committee on June 30, 2011. The 2011 session has ended.

What it does

The synopsis the Legislative Assembly published with the bill.

Allows deferral of gain, for purposes of state personal income taxes, on sale or other disposition of capital assets if proceeds are reinvested in qualified business interest, qualified investment fund or qualified business asset. Reduces basis of qualified business interest, qualified investment fund or qualified business asset by amount of deferred gain. Requires reinvestment of full amount of proceeds to fully defer tax. Allows Department of Revenue to adopt rules to define what constitutes interim holding or incidental holding. Defines terms. Requires report to Legislative Assembly. Makes technical changes. Repeals provisions of earlier deferral program. Applies to investments made on or after January 1, 2012, and to tax years beginning on or after January 1, 2012. Takes effect on 91st day following adjournment sine die.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

    1 co-sponsor

    SFR

    Its course

    February 22 to June 30, 2011, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

    Each committee stop sits inside its chamber.

    Every action4 actions on 4 days

    In the SenateFeb 22 to Jun 30 · stopped128 days

    Waiting for a committeeFeb 22 to Feb 253 days

    Finance and RevenueFeb 25 to Jun 30 · stopped125 days

    Text

    Each version as the Legislative Assembly printed it.

    l9n doesn't hold this bill's text yet.

    What happened

    In l9n's words, one line for each step. Every action as the Legislative Assembly published it is below.

    In the Senate Feb 22 – Jun 30

    1. Feb 22Introduced
    2. Feb 25Sent to Finance and Revenue
    3. Mar 23Heard in Finance and Revenue
    4. Jun 30Died when the session ended
    All 4 actions, as published
    1. Feb 22Introduction and first reading. Referred to President's desk.Senate
    2. Feb 25Referred to Finance and Revenue.Senate
    3. Mar 23Public Hearing held.Senate
    4. Jun 30In committee upon adjournment.Senate