l9n/ Oregon

2011 Regular Session

Senate Bill 883

Creates subtraction from federal taxable income for net long-term capital gain.

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

What it does

The synopsis the Legislative Assembly published with the bill.

<i>Reduces rate of tax on capital gains of personal income and corporate income and excise taxpayers.</i>] <i>Applies to tax years beginning on or after January 1, 2011.</i>] <i>Takes effect on 91st day following adjournment sine die.</i>] <b>Creates subtraction from federal taxable income for net long-term capital gain. Provides greatest subtraction for gain attributable to sale of business asset used in state and held at least 60 consecutive months. Phases in subtraction, over successive tax years ending in 2020, for gain attributable to sale of non-business asset held at least 60 consecutive months. <b>Applies to sale of assets on or after January 1, 2013, and to tax years beginning on or after January 1, 2013. <b>Takes effect only if Senate Joint Resolution 26 (2011) is approved by people at next regular general election. Takes effect on effective date of constitutional amendment proposed in Senate Joint Resolution 26 (2011).</b>

Sponsors

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

In the Senate

    2 co-sponsors

    Chris Telfer, Chuck Thomsen

    In the House of Representatives

      3 co-sponsors

      Jason Conger, Mike McLane, Julie Parrish

      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 action7 actions on 6 days

      In the SenateFeb 22 to Jun 30 · stopped128 days

      Waiting for a committeeFeb 22 to Feb 253 days

      Finance and RevenueFeb 25 to May 973 days

      RulesMay 9 to Jun 30 · stopped52 days

      Amendments

      Each amendment offered, and what became of it.

      • Senate committee amendmentAdopted

        Adopted May 9

      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. May 4Heard in Finance and Revenue
      5. May 9Finance and Revenue recommended it as amended
      6. Sent to Rules
      7. Jun 30Died when the session ended
      All 7 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. May 4Work Session held.Senate
      5. May 9Recommendation: Do Pass with amendments. (Printed A-Eng)Senate
      6. May 9Referred to Rules by order of the President.Senate
      7. Jun 30In committee upon adjournment.Senate