Did not become law. It stopped in the House of Representatives's Revenue Committee on June 26, 2021. The 2021 session has ended.
2021 Regular Session
House Bill 2428
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.
What it does
The synopsis the Legislative Assembly published with the bill.
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. Applies to tax years beginning on or after January 1, 2020. Directs Legislative Revenue Officer, after study and consultation with interested parties, to report to Legislative Assembly on operation, benefits, impact and effectiveness of federal opportunity zone program in Oregon and to include recommended options, if appropriate, for legislation related to federal opportunity zone program in Oregon. 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. 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
Sponsor
Its course
January 11 to June 26, 2021, 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 House of RepresentativesJan 11 to Jun 26 · stopped166 days
Waiting for a committeeJan 11 to Jan 198 days
RevenueJan 19 to Jun 26 · stopped158 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 House of Representatives Jan 11 – Jun 26
- Jan 11Introduced
- Jan 19Sent to Revenue
- Jun 26Died when the session ended
All 3 actions, as published
- Jan 11First reading. Referred to Speaker's desk.House of Representatives
- Jan 19Referred to Revenue.House of Representatives
- Jun 26In committee upon adjournment.House of Representatives