OR SB1541 | 2020 | Regular Session
Status
Completed Legislative Action
Spectrum: Strong Partisan Bill (Republican 11-1)
Status: Failed on March 8 2020 - 100% progression
Action: 2020-03-08 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Spectrum: Strong Partisan Bill (Republican 11-1)
Status: Failed on March 8 2020 - 100% progression
Action: 2020-03-08 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Summary
Provides, for purposes of ad valorem property taxation, frozen assessed value for homestead of individual at least 68 years old, or person with disability, if homestead and individual would be eligible for homestead property tax deferral program but for fact that homestead is pledged as security for reverse mortgage. Provides that frozen assessed value equals assessed value of homestead for property tax year immediately preceding first property tax year to which valid claim relates. Provides for unfreezing of assessed value if new property or new improvements are added to tax account of homestead.] Provides that, after occurrence of certain circumstances, assessed value shall be what it would have been if homestead had never been granted frozen assessed value] homestead shall be assessed and taxed as other property similarly situated is assessed and taxed. Sunsets program after six years. Grandfathers homesteads granted frozen assessed value before sunset. Takes effect on 91st day following adjournment sine die.
Title
Relating to a frozen assessed value for the homesteads of certain individuals; prescribing an effective date.
Sponsors
Roll Calls
2020-02-27 - Senate - Senate Committee Do pass with amendments and requesting referral to Ways and Means. (Printed A-Engrossed.) (Y: 4 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2020-03-08 | Senate | In committee upon adjournment. |
| 2020-02-27 | Senate | Referred to Ways and Means by order of the President. |
| 2020-02-27 | Senate | Recommendation: Do pass with amendments and be referred to Ways and Means. (Printed A-Eng.) |
| 2020-02-27 | Senate | Work Session held. |
| 2020-02-07 | Senate | Public Hearing and Work Session held. |
| 2020-02-03 | Senate | Referred to Finance and Revenue. |
| 2020-02-03 | Senate | Introduction and first reading. Referred to President's desk. |
| 2020-01-27 | Senate | Presession Released to the Public. |
