l9n/ Oregon

2017 Regular Session

House Bill 2996

Designates Act as Oregon First-Time Home Buyer Savings Account Act.

Did not become law. It stopped in the House of Representatives's Revenue Committee on July 7, 2017. The 2017 session has ended.

What it does

The synopsis the Legislative Assembly published with the bill.

Designates Act as Oregon First-Time Home Buyer Savings Account Act. Permits individual to create first-time home buyer savings account with financial institution to pay or reimburse account holder's eligible costs for first-time purchase of single family residence. Allows subtraction from account holder's federal taxable income amounts contributed to first-time home buyer savings account during each tax year. Exempts from taxation amount of interest and other income earned on account. Disallows subtraction or exemption from taxable income for person other than account holder who contributes funds to account. Provides that withdrawals for other than approved purposes are taxable income to account holder. Establishes amount and time limitations on subtractions and exemptions from taxable income. <b>Directs Department of Revenue to create means for designating subtraction to which account holder is entitled in individual state income tax return form. Requires financial institution to provide account holder with certificate containing specified information about account.</b> Applies to tax years beginning on or after January 1, 2018, and before January 1, 2024. 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 House of Representatives

12 co-sponsors

Knute Buehler, Margaret Doherty, Sal Esquivel, Alissa Keny-Guyer, Ron Noble, Rob Nosse, Duane Stark, Andy Olson, Janelle Bynum, Bill Kennemer, Pam Marsh, Gregory Smith

In the Senate

2 co-sponsors

Richard Devlin, Mark Hass

Its course

February 23 to July 7, 2017, 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 action8 actions on 7 days

In the House of RepresentativesFeb 23 to Jul 7 · stopped134 days

Waiting for a committeeFeb 23 to Mar 16 days

Human Services and HousingMar 1 to Apr 2555 days

RevenueApr 25 to Jul 7 · stopped73 days

Amendments

Each amendment offered, and what became of it.

  • House of Representatives committee amendmentAdopted

    Adopted Apr 25

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 House of Representatives Feb 23 – Jul 7

  1. Feb 23Introduced
  2. Mar 1Sent to Human Services and Housing
  3. Mar 23Heard in Human Services and Housing
  4. Apr 13Heard in Human Services and Housing
  5. Apr 18Heard in Human Services and Housing
  6. Apr 25Human Services and Housing recommended it as amended, and that it go to Revenue
  7. Sent to Revenue
  8. Jul 7Died when the session ended
All 8 actions, as published
  1. Feb 23First reading. Referred to Speaker's desk.House of Representatives
  2. Mar 1Referred to Human Services and Housing with subsequent referral to Revenue.House of Representatives
  3. Mar 23Public Hearing held.House of Representatives
  4. Apr 13Work Session held.House of Representatives
  5. Apr 18Work Session held.House of Representatives
  6. Apr 25Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Revenue by prior reference.House of Representatives
  7. Apr 25Referred to Revenue by prior reference.House of Representatives
  8. Jul 7In committee upon adjournment.House of Representatives