l9n/ Oregon

2017 Regular Session

Senate Bill 343

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

Did not become law. It stopped in the Senate's Finance and 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 qualified beneficiary's eligible costs for first-time purchase of single family residence. Requires account holder to submit to Department of Revenue information on designated forms and detailed account of first-time home buyer savings account activity. Directs department to prepare forms and distribute informational materials. 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. 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 Senate

Its course

January 9 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 action3 actions on 3 days

In the SenateJan 9 to Jul 7 · stopped179 days

Waiting for a committeeJan 9 to Jan 178 days

Finance and RevenueJan 17 to Jul 7 · stopped171 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 Jan 9 – Jul 7

  1. Jan 9Introduced
  2. Jan 17Sent to Finance and Revenue
  3. Jul 7Died when the session ended
All 3 actions, as published
  1. Jan 9Introduction and first reading. Referred to President's desk.Senate
  2. Jan 17Referred to Finance and Revenue.Senate
  3. Jul 7In committee upon adjournment.Senate