SB 93

Creates an Oregon tax subtraction for interest received by financial institutions from loans made for the purchase or improvement of agricultural real estate, rural residences and coastal fishing boats.

Bill Text

• Introduced

Creates an Oregon tax subtraction for interest on loans made for the purchase or improvement of agricultural real estate, rural residences, and coastal fishing boats.

Original Bill Text

Sponsors#

Chief Sponsors: Mark Meek

Co-Sponsors: Dick Anderson

Overview#

Digest: The Act makes a new tax subtraction for banks that loan for rural farms, houses or boats. (Flesch Readability Score: 72.3). Creates an Oregon tax subtraction for interest received by financial institutions from loans made for the purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Exempts from commercial activity subject to the corporate activity tax interest received by financial institutions from loans made for the purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Takes effect on the 91st day following adjournment sine die.

Public Testimony

Legislative History