SB 101
Extends the date by which an account holder must open a first-time home buyer savings account in order to claim a subtraction for contributed funds or an exemption for earnings.
| Status | In House Committee (JCTE) |
| Requested by | (at the request of Senate Interim Committee on Finance and Revenue) |
| Fiscal impact | Has minimal fiscal impact |
| Revenue impact | Revenue impact issued |
Bill Text
Extends the deadline for opening a first-time home buyer savings account to claim tax benefits on contributed funds and earnings.
Overview#
Digest: The Act extends date by which one must open first-time home buyer savings account in order to claim tax benefits. (Flesch Readability Score: 63.8). Extends the date by which an account holder must open a first-time home buyer savings account in order to claim a subtraction for contributed funds or an exemption for earnings. Extends the sunset for the use of the subtraction and exemption.
Public Testimony
| Name | Organization | Position | Date |
|---|---|---|---|
| Pam Leavitt | GoWest Credit Union Assoc. | Support | 2025-02-02 |
| John Calhoun | PORTLAND | Support | 2025-02-03 |
| David Wall | Newberg | Oppose | 2025-02-04 |
| Jody Wiser | Tax Fairness Oregon | Support | 2025-05-05 |
| Pamela Leavitt | GoWest Credit Union Assoc. | Support | 2025-05-06 |
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-13 | S | Introduction and first reading. Referred to President's desk. |
| 2025-01-17 | S | Referred to Finance and Revenue. |
| 2025-02-03 | S | Public Hearing held. |
| 2025-03-05 | S | Work Session held. |
| 2025-03-06 | S | Recommendation: Do pass. |
| 2025-03-06 | S | Second reading. |
| 2025-03-10 | S | Third reading. Carried by Meek. Passed. |
| 2025-03-11 | H | First reading. Referred to Speaker's desk. |
| 2025-03-13 | H | Referred to Revenue. |
| 2025-05-06 | H | Public Hearing held. |
| 2025-06-10 | H | Work Session held. |
| 2025-06-13 | H | Recommendation: Do pass and be referred to Tax Expenditures. |
| 2025-06-13 | H | Referred to Tax Expenditures by order of Speaker. |
| 2025-06-27 | H | In committee upon adjournment. |