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HB2735 • 2025

Increases the aggregate amount of tax credits allowed to taxpayers in a tax year for donations for individual development accounts.

Increases the aggregate amount of tax credits allowed to taxpayers in a tax year for donations for individual development accounts.

Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Representative Ruiz,, Senator Weber,, Gorsek, Representative Andersen,, Elmer,, Gamba,, Hartman,, Hudson,, Levy B,, Levy E,, Mannix,, Munoz,, Nosse,, Owens,, Reschke,, Scharf,, Smith G,, Sosa,, Walters,, Senator Meek,
Last action
2025-06-27
Official status
In House Committee
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2025-06-27 House

    In committee upon adjournment.

  2. 2025-05-29 House

    Recommendation: Do pass with amendments, be printed B-Engrossed, and be referred to Tax Expenditures.

  3. 2025-05-29 House

    Referred to Tax Expenditures by order of Speaker.

  4. 2025-05-22 House

    Work Session held.

  5. 2025-04-29 House

    Informational Meeting held.

  6. 2025-04-22 House

    Public Hearing held.

  7. 2025-04-08 House

    Recommendation: Do pass with amendments, be printed A-Engrossed, subsequent referral to Ways and Means be rescinded, and be referred to Revenue.

  8. 2025-04-08 House

    Subsequent referral to Ways and Means rescinded by order of the Speaker.

  9. 2025-04-08 House

    Referred to Revenue by order of Speaker.

  10. 2025-04-02 House

    Work Session held.

  11. 2025-03-26 House

    Public Hearing held.

  12. 2025-01-17 House

    Referred to Housing and Homelessness with subsequent referral to Ways and Means.

  13. 2025-01-13 House

    First reading. Referred to Speaker's desk.

Official Summary Text

Digest: The Act raises the cap on total tax credits allowed for IDA donations. (Flesch Readability Score: 63.4).
Increases the aggregate amount of tax credits allowed to taxpayers in a tax year for donations for individual development accounts.<b> Aligns the date by which donations must be made to qualify for a credit with the underlying sunset date for the credit.</b>
Relating to: Relating to individual development accounts.
Current location: In House Committee