l9n/ Oregon

2023 Regular Session

Senate Bill 976

Disallows, for purposes of personal income taxation, mortgage interest deduction for residence other than taxpayer's principal residence, unless taxpayer sells residence or actively markets residence for sale.

Did not become law. It stopped in the Senate's Finance and Revenue Committee on June 25, 2023. The 2023 session has ended.

What it does

The synopsis the Legislative Assembly published with the bill.

Disallows, for purposes of personal income taxation, mortgage interest deduction for residence other than taxpayer's principal residence, unless taxpayer sells residence or actively markets residence for sale. Phases out allowable deduction for interest for principal residence based upon income. Disallows deduction for principal residence above threshold income amount. Establishes Oregon Housing Opportunity Account. Transfers amount equal to estimated increase in revenue attributable to restrictions on deduction of mortgage interest to account. Applies to tax years beginning on or after 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

In the House of Representatives

Its course

February 22 to June 25, 2023, 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 action5 actions on 5 days

In the SenateFeb 22 to Jun 25 · stopped123 days

Waiting for a committeeFeb 22 to Feb 231 day

Finance and RevenueFeb 23 to Jun 25 · stopped122 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 22 – Jun 25

  1. Feb 22Introduced
  2. Feb 23Sent to Finance and Revenue
  3. Apr 19Heard in Finance and Revenue
  4. Jun 25Died when the session ended
All 5 actions, as published
  1. Feb 22Introduction and first reading. Referred to President's desk.Senate
  2. Feb 23Referred to Finance and Revenue.Senate
  3. Apr 12Public Hearing Cancelled.Senate
  4. Apr 19Public Hearing held.Senate
  5. Jun 25In committee upon adjournment.Senate