ORS 315.047¹
List of tax credits with revenue impact in excess of projection

(1) Prior to the beginning of each odd-numbered year regular session, the Legislative Revenue Officer shall prepare a list of all tax credits that have revenue impact, for the most recent tax year for which sufficient information exists to make a determination, that exceeds the revenue impact projected in the most recent revenue impact statement prepared under ORS 173.025 (Preparation of fiscal impact and revenue impact statements for legislation affecting state or local governments) for the measure enacting or amending the tax credit provision. The Legislative Revenue Officer shall submit the list with the report required under ORS 315.051 (Report by Legislative Revenue Officer).

(2) The Legislative Revenue Officer shall identify those credits under subsection (1) of this section:

(a) For which the revenue impact exceeds the projected revenue impact by at least 10 percent; and

(b) That may be claimed in tax years beginning on or after January 1 of the next even year.

(3) During the odd-numbered year regular session, a legislative committee related to revenue shall consider all tax credits that are identified under subsection (2) of this section at a public hearing conducted by the committee. [2015 c.641 §3]

Note: 315.047 (List of tax credits with revenue impact in excess of projection) was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 315 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Chapter 315

Notes of Decisions

State could not recalculate tax for tax year closed to review in order to prevent elective carry forward of tax credit to tax year subject to review. Smurfit Newsprint Corp. v. Dept. of Revenue, 329 Or 591, 997 P2d 185 (2000)

1 Legislative Counsel Committee, CHAPTER 315—Personal and Corporate Income or Excise Tax Credits, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors315.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 315, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano315.­html (2019) (last ac­cessed May 16, 2020).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information