[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6259366,"mediaKeyId","3141544-ab8b1dd2aaadd9488c14fb7d9bcc1e8d","parentId",3141544,"title","Committee reviews SALT workaround extension and options to include trusts, opt‑outs and carryforwards","audioSeconds",210,"startMs",3364000,"endMs",3574000,"viewUrl","/Search/View?dp=1&key=3141544-ab8b1dd2aaadd9488c14fb7d9bcc1e8d&start=3364&end=3574","thumbnailUrl","https://assets.pipeline.soar.com/3141544-ab8b1dd2aaadd9488c14fb7d9bcc1e8d/thumbnail_3364000.jpg","articleUrl","/articles/6259366/Oregon/Committee-reviews-SALT-workaround-extension-and-options-to-include-trusts-optouts-and-carryforwards","mediaUrl","https://secure.pipeline.soar.com/6259366-539c9996caa217f0fbcdfef47d83b2dc/orig.mp4?Expires=1771136246&Signature=Xh6lXCuJQHielFnCBJAW6KEqxN9ev7QewRJDQbLXne-YAkHPiYuNUfpJIDcBpjVCFhasbahQYxtvETV5AF2ii7CoJVlcqcbpDRZ25D1TtRNDGdlO6zDRTqaTXL1DsWRVN0Xq2LbVcjCZES51WlEggHAhXBEOA~J0RIgAHTD6jiN2Qxlr69zeYe0X0xouaI-FAO84mtO~n4PPXlZ1IrmiRXCmGQgt3-ZczvPu8V-kGJ5pzLv7BBOujeJi4SpoOOwMv9YBu6KiRqlVwRp-X4WmlqUNdWEkBCxn388NW-ocPpOgNq4vu~onID87vBU9dgvACwLme6ZAAsYYUKOGOj~czA__&Key-Pair-Id=KUT5TJCACFTXG","author","Oregon State Legislature","date","2025-04-28T00:00:00Z","article","On April 28, 2025, the Senate Committee on Finance and Revenue received an informational briefing on Senate Bill 111, the state’s business alternative income tax that operates as a SALT (state and local tax) workaround.

Legislative staff explained the bill’s core design: Oregon and about 35 other states adopted a revenue‑neutral mechanism that allows pass‑through entities to pay a state tax at the entity level so individual owners can effectively obtain federal tax benefits otherwise limited by the federal SALT cap. The introduced version would extend the existing mechanism for two years.

Staff described several amendment options under consideration. The dash 2 amendment would add trusts as eligible members of pass‑through entities and allow overpayments of estimated BAIT (business alternative income tax) to be carried forward to the next tax year. The dash 6 would make trusts eligible effective tax year 2025 and retain the overpayment carryforward. The dash 7 would be the dash 6 plus an additional policy to allow individual members to opt out of the entity‑level tax.

Derek Singston, policy director and counsel for Oregon Business and Industry, urged the committee to adopt the dash 7 amendment, saying it provides the most flexibility for diverse organizational structures and does not change state revenue because the design is revenue neutral. \"We would strongly recommend the dash 7 amendment,\" Singston said, adding that the opt‑out option helps businesses with different books and tax positions.

Committee members asked clarifying questions about the inclusion of trusts and the timing of implementation; staff noted the dash 6 moves trust eligibility up a year and that further technical work is possible if the committee schedules a work session. No vote was taken during the informational session.

","mediaType","Video","parentTitle","Senate Committee On Finance and Revenue 04/28/2025 8:30 AM","oneSentenceSummary","On April 28, 2025, the Senate Committee on Finance and Revenue received an informational briefing on Senate Bill 111, the state’s business alternative income tax designed as a SALT workaround, and on proposed amendments to expand eligibility and administrative rules.","taxTitle","Finance and Revenue, Senate, Committees, Legislative, Oregon","taxId",17809,"location","Oregon","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6259374,"Senate committee hears bill to tax receipts when Oregon-chartered credit unions buy bank business portfolios",2749,42000,2791000,"/Search/View?dp=1&key=3141544-ab8b1dd2aaadd9488c14fb7d9bcc1e8d&start=42&end=2791","https://assets.pipeline.soar.com/3141544-ab8b1dd2aaadd9488c14fb7d9bcc1e8d/thumbnail_42000.jpg","/articles/6259374/Oregon/Senate-committee-hears-bill-to-tax-receipts-when-Oregon-chartered-credit-unions-buy-bank-business-portfolios","https://secure.pipeline.soar.com/6259374-951b71fadb5d15a0216e52cbf0166b62/orig.mp4?Expires=1771136246&Signature=gpLZ14lY9~jE7Y3qFqJwcxt7G4JT5WNwMCn-uL5qCyvYDG34Sj-K7IeBO9VJdfg-DWNQEVU-kowuFK7HavI~alzmm2aaswba-VAjCdLbdt2WIUMxoSfUlcNcPax3exp3N2zWVBoa0CX0scyQ6pbRJ2cIQi3ErVtSyyGRBQeyi3lGEGk7ataUYaWKl9a7VSiUW-6HJyaUgYBVAemKS7YnSwgBOPl4s4PhULJQ7Dy~5YaroSyE89J~4HHxU6aT1MLEPohpkqwO17PhD1NZv-iGNDl-7BCwPvnavZcz9WymsZzr1XaP0Ysp2s1nj8M32I4NtN-jQDT36RiZTnUDrlccnQ__&Key-Pair-Id=KUT5TJCACFTXG","On April 28, 2025, the Senate Committee on Finance and Revenue opened a public hearing on Senate Bill 781, which would require Oregon‑chartered credit unions that acquire the business portfolios of banks to pay Oregon corporate excise tax and the corporate activity tax on receipts from those acquired portfolios.

The bill’s sponsors and backers said the change would preserve tax equity and protect community banks; credit unions and allied witnesses said the measure would discourage rare rescue transactions that preserve local services. The hearing included testimony from state lawmakers, banking groups, credit union executives, a national tax policy researcher and attorneys representing credit unions.

Senator Todd Nash (Senate District 29) said the bill grew out of recent purchases in Oregon and elsewhere and concerns that bank income could become permanently tax-exempt after a transfer to a credit union. \"There was an announcement that Spokane Teachers Credit Union purchased Community Bank in Northeastern Oregon,\" Nash said, adding he wanted to ensure the tax burdens on bank portfolios did not disappear during transfers.

Representative Bobby Levy (House District representing Umatilla, Union and Wallowa counties) testified in favor of the bill, saying it \"ensures that fairness is maintained in our tax system\" by keeping receipts from acquired commercial business operations subject to Oregon's corporate excise and CAT taxes.

Speakers for Oregon banks argued the bill responds to a structural shift in the state’s financial sector. Scott Bruin, CEO of the Oregon Bankers Association, told the committee that Oregon now has 14 state‑chartered banks versus about 50 two decades ago and that \"since 02/2007, not a single new bank has started in Oregon.\" He said credit unions have expanded into commercial lending and in some cases \"look, smell, and operate just like commercial banks,\" creating a competitive mismatch because credit unions are tax‑exempt for core operations.

Trent Wright, director of government relations at Umpqua Bank, said credit unions can often pay higher all‑cash purchase prices than banks and that SB 781 would create a more level field for bank buyers. \"There is an impossible scenario when a community bank is for sale for another bank to come in and match a credit union offer,\" Wright said, arguing the tax change would restore competition.

Credit union witnesses said these acquisitions are uncommon, often rescue transactions that preserve branches, jobs and services in communities losing bank options. Pam Levitt, representing Oregon credit unions and the Go West Credit Union Association, said credit unions serve roughly 2,300,000 Oregonians and employ about 6,500 people in the state. She cited a 2018 purchase by Mid Oregon Credit Union that acquired High Desert Bank (a single branch, about $13,000,000 in assets) to prevent branch closure and preserve service.

Ezra Eckhart, president and CEO of Spokane Teachers Credit Union, said SB 781 \"would create a purchase related tax on not for profit credit unions ... as a penalty for acquiring a bank,\" and warned that the extra cost would be borne by members through higher rates or fees and could push credit unions to convert to federal charters, shifting oversight away from the state without producing additional tax revenue.

Rachel Pross, chief operations officer of MAPS Credit Union, which is under contract to acquire Lewis & Clark Bank, said the acquisition keeps services local, preserves nearly all employees and expands small‑business lending capacity. \"Why would we want to discourage this by introducing a bill like SB 781?\" she asked.

Other opponents emphasized the cooperative structure of credit unions. Hal Scoggins, an attorney representing the Go West association, said credit unions are not tax‑exempt because of size or product mix but because they do not have shareholders who receive dividends; he argued purchasing bank assets does not change that nonprofit structure.

A national perspective came from Andrei Yushkov of the Tax Foundation, who summarized data showing credit unions nationwide have grown and acquired more than 100 banks over the past decade and noted several states have recently taken steps to prevent revenue loss from similar transactions. Yushkov said state action to preserve corporate tax revenues was a reasonable policy response.

Testimony also included community benefit claims from credit unions: Rob Stewart, president and CEO of OnPoint Community Credit Union, said Oregon credit unions delivered $229,000,000 in direct benefits to members in 2023 and that OnPoint has expanded branch presence in recent years.

The committee did not take a vote. Chair Meek closed the public hearing and moved on to informational sessions on other bills.

What’s next: The committee record will include written testimony and the bill may be scheduled for further work sessions; no formal decision or vote was recorded during the hearing.

","On April 28, 2025, the Senate Committee on Finance and Revenue opened a public hearing on Senate Bill 781, which would require Oregon‑chartered credit unions that acquire a bank's business portfolio to pay Oregon corporate excise tax and the corporate activity tax on receipts from that portfolio.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6259370,"Legislative staff explains proposal to raise disabled‑veteran property tax exemptions and adds means test questions",517,2779000,3296000,"/Search/View?dp=1&key=3141544-ab8b1dd2aaadd9488c14fb7d9bcc1e8d&start=2779&end=3296","https://assets.pipeline.soar.com/3141544-ab8b1dd2aaadd9488c14fb7d9bcc1e8d/thumbnail_2779000.jpg","/articles/6259370/Oregon/Legislative-staff-explains-proposal-to-raise-disabledveteran-property-tax-exemptions-and-adds-means-test-questions","https://secure.pipeline.soar.com/6259370-c95764ef134ad6199e1a86ec7b6d145c/orig.mp4?Expires=1771136246&Signature=W6AHmE0WO1z0QC3uTsy2~PWWM492TVpfUyx4chmDT-S7hiU4sYjMZB7qauR4edRpRgk2t1FIdQ~-Uh6cmo0-WBiu7ozvg9uOjB1i-a9F60M531~sqJBjABWIvItHfxgorwK92jaryWtCKYANMCIs6Zv5cxiJzaQxJlLPqpPkuoUPDLrJikP3UmjMYdPN5DVJaJxWwhWpLrL7y~D-5pXx3uIiUcmK4F~VU50eccsyNeIMftDZWyo1e5toFGHefpApYqgKEzKWvHrPN~DAbWp4uJXtEZZ-6GFV~1tSmwUdU1PiCg4noJ9UabCXek~36tyv1pEUm9Wv-WcjyaNOANrI5g__&Key-Pair-Id=KUT5TJCACFTXG","On April 28, 2025, the Senate Committee on Finance and Revenue received an informational briefing on Senate Bill 387, which would increase several property tax exemption amounts for disabled veterans and surviving spouses and add two new partial exemptions.

Beau Olin of the Legislative Revenue Office presented the bill’s structure, described the exemption amounts (listed in section 1 of the bill) and outlined several technical and implementation questions staff flagged for the committee. The briefing emphasized that the bill increases current assessed‑value exemption amounts and also introduces a new means test tied to taxable income.

Olin summarized key provisions: existing exemptions that currently rise roughly 3% per year would be set to fixed higher amounts (for example, increases from about $25,000 to $60,000 for certain exemptions and from about $31,000 to $65,000 for another). The bill would add a new exemption of $150,000 (assessed value) and a second new partial exemption set at 90% of assessed value; those new amounts would also grow at 3% annually under the draft language.

Staff noted a distinct means‑test provision in section 1(7) that refers to \"taxable income up to $120,000 for separate returns or $240,000 for joint returns.\" Olin warned that the draft does not specify whether \"taxable income\" refers to federal or Oregon taxable income and that the means test could affect who qualifies. He also said the bill references U.S. Department of Veterans Affairs criteria for individual unemployability in one exemption and that the text might be clarified to specify the intended standard.

On preliminary fiscal impacts, Olin said the analysis assumes the two new partial exemptions would be funded by a state general‑fund appropriation and estimated total property‑tax reductions for qualifying disabled veterans and surviving spouses of about $80–$90 million per biennium. He said the distribution of that reduction is roughly one‑third local and two‑thirds state under the assumption of a state appropriation to cover the new partial exemptions.

Olin also raised practical implementation questions: whether county assessors would need access to taxpayers’ income tax returns to certify eligibility, and whether additional confidentiality guardrails would be required. He said about 40,000 people currently participate in the exemption program and that the bill’s means test could disqualify some current participants while enabling other residents to newly qualify depending on the interaction of changes.

Senator Taylor asked for comparative information about how neighboring states treat disabled‑veteran property tax exemptions; Olin said staff could provide that research in a follow‑up. The briefing closed with committee members thanking staff and saying further work could follow if members want to move the bill.

","An informational briefing on Senate Bill 387 described proposals to increase and add property tax exemptions for disabled veterans and surviving spouses, possible means‑test thresholds and preliminary fiscal impacts estimated at about $80–$90 million in reduced property tax receipts per biennium under certain funding assumptions.","actionData","errors"]

Article not found

Committee reviews SALT workaround extension and options to include trusts, opt‑outs and carryforwards

Senate committee hears bill to tax receipts when Oregon-chartered credit unions buy bank business portfolios

Legislative staff explains proposal to raise disabled‑veteran property tax exemptions and adds means test questions