ORS 318.074
Disposition of revenue from tax imposed at increased rate

  • estimate

(1)

For tax years beginning on or after January 1, 2013, and before January 1, 2017, any revenue that is received as a result of a rate of tax above 7.5 percent imposed under this chapter and that is in excess of the revenue that would be received under this chapter at a rate of 7.5 percent shall be deposited into the Oregon Rainy Day Fund established by ORS 293.144 (Oregon Rainy Day Fund).

(2)

For tax years beginning on or after January 1, 2017, any revenue that is received as a result of a rate of tax above 7.2 percent imposed under this chapter and that is in excess of the revenue that would be received under this chapter at a rate of 7.2 percent shall be deposited into the Oregon Rainy Day Fund established by ORS 293.144 (Oregon Rainy Day Fund).

(3)

Before the end of each biennium, beginning with the biennium ending on June 30, 2015, the Department of Revenue shall estimate the revenue described in subsection (1) or (2) of this section that is received during the biennium. An amount equal to that estimate shall be transferred into the Oregon Rainy Day Fund established by ORS 293.144 (Oregon Rainy Day Fund) on or before June 30 of each odd-numbered year. [2009 c.747 §4; 2013 s.s. c.5 §9]

Source: Section 318.074 — Disposition of revenue from tax imposed at increased rate; estimate, https://www.­oregonlegislature.­gov/bills_laws/ors/ors318.­html.

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Current through early 2024

§ 318.074’s source at oregon​.gov