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SB111 • 2025

Extends the sunsets for the pass-through business alternative income tax and the related personal income tax credit.

Extends the sunsets for the pass-through business alternative income tax and the related personal income tax credit.

Taxes
Passed Legislature

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

Sponsor
Last action
2025-06-27
Official status
At House Desk Upon Adjournment
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

    At Desk upon adjournment.

  2. 2025-06-26 House

    Rules suspended. Carried over to June 27, 2025 Calendar.

  3. 2025-06-25 House

    Rules suspended. Carried over to June 26, 2025 Calendar.

  4. 2025-06-24 House

    Rules suspended. Carried over to June 25, 2025 Calendar.

  5. 2025-06-23 House

    Second reading.

  6. 2025-06-20 House

    Public Hearing and Work Session held.

  7. 2025-06-20 House

    Recommendation: Do pass with amendments and be printed B-Engrossed.

  8. 2025-06-17 Senate

    Third reading. Carried by Meek. Passed. Ayes, 30.

  9. 2025-06-17 House

    First reading. Referred to Speaker's desk.

  10. 2025-06-17 House

    Referred to Revenue.

  11. 2025-06-16 Senate

    Second reading.

  12. 2025-06-13 Senate

    Recommendation: Do pass with amendments and subsequent referral to Tax Expenditures be rescinded. (Printed A-Eng.)

  13. 2025-06-13 Senate

    Subsequent referral rescinded by order of the President.

  14. 2025-06-09 Senate

    Work Session held.

  15. 2025-04-28 Senate

    Informational Meeting held.

  16. 2025-03-05 Senate

    Public Hearing held.

  17. 2025-01-17 Senate

    Referred to Finance and Revenue, then Tax Expenditures.

  18. 2025-01-13 Senate

    Introduction and first reading. Referred to President's desk.

Official Summary Text

<b>Digest: The Act extends the sunset for the BAIT and allows tax overpayments to be applied to subsequent tax year. (Flesch Readability Score: 61.6).</b>
[<i>Digest: The Act extends the sunset for the BAIT and the related tax credit and modifies provisions of the tax and credit. (Flesch Readability Score: 60.6).</i>]
Extends the sunsets for the pass-through business alternative income tax and the related personal income tax credit. [<i>Allows trusts to be members of participating pass-through entities. Allows members of participating entities to opt out of the election to participate.</i>] Provides that an overpayment of tax may be applied to a subsequent tax year payment. Applies to [<i>tax years beginning on or after January 1, 2022, and before January 1, 2028</i>]<b> overpayments made before January 1, 2027</b>.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to the pass-through business alternative income tax; prescribing an effective date.
Current location: At House Desk Upon Adjournment