Bill Text: OR HB3454 | 2011 | Regular Session | Enrolled

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Bill Title: Relating to net operating losses; and prescribing an effective date.

Spectrum: Committee Bill

Status: (Passed) 2011-08-02 - Chapter 685, (2011 Laws): Effective date September 29, 2011. [HB3454 Detail]

Download: Oregon-2011-HB3454-Enrolled.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session

                            Enrolled

                         House Bill 3454

Sponsored by COMMITTEE ON REVENUE

                     CHAPTER ................

                             AN ACT

Relating to net operating losses; and prescribing an effective
  date.

Be It Enacted by the People of the State of Oregon:

  SECTION 1.  { + Sections 2 and 3 of this 2011 Act are added to
and made a part of ORS chapter 316. + }
  SECTION 2.  { + Notwithstanding ORS 316.739, a subtraction from
federal taxable income is not allowed for amounts included in the
calculation of an Oregon net operating loss under ORS
316.014. + }
  SECTION 3.  { + If a taxpayer has claimed a subtraction for a
previous tax year that is disallowed under section 2 of this 2011
Act, the taxpayer may comply with section 2 of this 2011 Act by
filing an amended return or by adding to income on the taxpayer's
return for the 2011 tax year the amount of the disallowed
subtraction. + }
  SECTION 4.  { + Sections 2 and 3 of this 2011 Act apply to tax
years beginning on or after January 1, 2009. + }
  SECTION 5.  { + This 2011 Act takes effect on the 91st day
after the date on which the 2011 regular session of the
Seventy-sixth Legislative Assembly adjourns sine die. + }
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Passed by House June 6, 2011

    .............................................................
                         Ramona Kenady Line, Chief Clerk of House

    .............................................................
                                    Bruce Hanna, Speaker of House

    .............................................................
                                   Arnie Roblan, Speaker of House

Passed by Senate June 16, 2011

    .............................................................
                              Peter Courtney, President of Senate

Enrolled House Bill 3454 (HB 3454-A)                       Page 1

Received by Governor:

......M.,............., 2011

Approved:

......M.,............., 2011

    .............................................................
                                         John Kitzhaber, Governor

Filed in Office of Secretary of State:

......M.,............., 2011

    .............................................................
                                   Kate Brown, Secretary of State

Enrolled House Bill 3454 (HB 3454-A)                       Page 2