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HB2863 • 2025

Allows a subtraction from federal taxable income of the gain from the sale of opportunity zone property, defined as property in a low-income census tract developed for affordable housing and held for a stated period of time.

Allows a subtraction from federal taxable income of the gain from the sale of opportunity zone property, defined as property in a low-income census tract developed for affordable housing and held for a stated period of time.

Housing Taxes
Passed Legislature

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

Sponsor
Representative Evans
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. 2025-01-17 House

    Referred to Housing and Homelessness with subsequent referral to Revenue.

  3. 2025-01-13 House

    First reading. Referred to Speaker's desk.

Official Summary Text

Digest: The Act exempts gain on the sale of certain property in a low-income census tract from tax. (Flesch Readability Score: 70.1).
Allows a subtraction from federal taxable income of the gain from the sale of opportunity zone property, defined as property in a low-income census tract developed for affordable housing and held for a stated period of time.
Applies to tax years beginning on or after January 1, 2025, and before January 1, 2031.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to capital gains treatment of affordable housing property; prescribing an effective date.
Current location: In House Committee