l9n/ Oregon

2017 Regular Session

Senate Bill 849

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

Did not become law. It stopped in the Senate 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

1 co-sponsor

Richard Devlin

In the House of Representatives

8 co-sponsors

Knute Buehler, Margaret Doherty, Sal Esquivel, David Gomberg, Alissa Keny-Guyer, Ron Noble, Rob Nosse, Duane Stark

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 action6 actions on 6 days

In the SenateFeb 23 to Jul 7 · stopped134 days

Waiting for a committeeFeb 23 to Feb 274 days

Business and TransportationFeb 27 to Mar 2829 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 23 – Jul 7

  1. Feb 23Introduced
  2. Feb 27Sent to Business and Transportation
  3. Mar 22Heard in Business and Transportation
  4. Mar 28Business and Transportation recommended it, and that it go to Finance and Revenue
  5. Apr 11Heard in Business and Transportation
  6. Jul 7Died when the session ended
All 6 actions, as published
  1. Feb 23Introduction and first reading. Referred to President's desk.Senate
  2. Feb 27Referred to Business and Transportation, then Finance and Revenue.Senate
  3. Mar 22Public Hearing and Work Session held.Senate
  4. Mar 28Recommendation: Do pass and be referred to Finance and Revenue by prior reference.Senate
  5. Apr 11Public Hearing held.Senate
  6. Jul 7In committee upon adjournment.Senate