l9n/ Oregon

2020 Regular Session

House Bill 4010

Requires taxpayer to increase basis of investment by 50 percent of difference between fair market value and original basis, at sale or exchange of investment in opportunity zone property held at least 10 years, in lieu of full fair market value basis allowed in federal law.

Did not become law. It stopped in the House of Representatives on March 8, 2020. The 2020 session has ended.

What it does

The synopsis the Legislative Assembly published with the bill.

<b>Requires taxpayer to increase basis of investment by 50 percent of difference between fair market value and original basis, at sale or exchange of investment in opportunity zone property held at least 10 years, in lieu of full fair market value basis allowed in federal law. <b>Applies to tax years beginning on or after January 1, 2020.</b> <i>Requires addition to federal taxable income of amounts excluded as gain attributable to investment in federal qualified opportunity zone. Allows subtraction in later tax year if gain is temporarily deferred at federal level.</i>] Directs Legislative Revenue Officer, after study and consultation with interested parties, to report to Legislative Assembly on operation<b>, benefits, impact</b> and effectiveness of federal opportunity zone program <b>in Oregon</b> and to <i>make recommendations, if appropriate, for legislation intended to achieve partial reconnection</i>] <b>include recommended options, if appropriate, for legislation related</b> to federal opportunity zone program<b> in Oregon</b>. <i>Applies to tax years beginning on or after January 1, 2020.</i>] <b>Requires each qualified opportunity fund in state to submit annual report to Department of Consumer and Business Services following receipt of moneys from investor by fund or investment by fund in qualified opportunity zone in state. Prescribes required information for inclusion in report.</b> Takes effect on 91st day following adjournment sine die.

Its course

January 27 to March 8, 2020, 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 action17 actions on 15 days

In the House of RepresentativesJan 27 to Mar 8 · stopped41 days

Waiting for a committeeJan 27 to Feb 37 days

RevenueFeb 3 to Feb 2421 days

Amendments

Each amendment offered, and what became of it.

  • House of Representatives committee amendmentAdopted

    Adopted Feb 24

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 Jan 27 – Mar 8

  1. Jan 27Filed before the session
  2. Feb 3Introduced
  3. Sent to Revenue
  4. Feb 6Heard in Revenue
  5. Feb 19Heard in Revenue
  6. Feb 20Heard in Revenue
  7. Feb 24Revenue recommended it as amended
  8. Read a second time
  9. Mar 8Died when the session ended
All 17 actions, as published
  1. Jan 27Presession Released to the Public.House of Representatives
  2. Feb 3First reading. Referred to Speaker's desk.House of Representatives
  3. Feb 3Referred to Revenue.House of Representatives
  4. Feb 6Public Hearing held.House of Representatives
  5. Feb 19Work Session held.House of Representatives
  6. Feb 20Work Session held.House of Representatives
  7. Feb 24Recommendation: Do pass with amendments and be printed A-Engrossed.House of Representatives
  8. Feb 24Second reading.House of Representatives
  9. Feb 25Carried over to February 26, 2020 Calendar by virtue of adjournment.House of Representatives
  10. Feb 26Carried over to February 27, 2020 Calendar by virtue of adjournment.House of Representatives
  11. Feb 27Carried over to February 28, 2020 Calendar by virtue of adjournment.House of Representatives
  12. Feb 28Carried over to March 2, 2020 Calendar by virtue of adjournment.House of Representatives
  13. Mar 2Carried over to March 3, 2020 Calendar by virtue of adjournment.House of Representatives
  14. Mar 3Carried over to March 4, 2020 Calendar by virtue of adjournment.House of Representatives
  15. Mar 4Carried over to March 5, 2020 Calendar by virtue of adjournment.House of Representatives
  16. Mar 5Carried over to March 8, 2020 Calendar by virtue of adjournment.House of Representatives
  17. Mar 8At Desk upon adjournment.House of Representatives