SEE LATEST
SPONSORED LEGISLATION
HB4007 - Relating to tax treatment of wildfire litigation; prescribing an effective date.
Jami J. Cate, Cyrus Javadi, Barbara L. Levy
Last updated 7 months ago
18 Co-Sponsors
Exempts awards from and legal fees paid in wildfire suits from income tax. (Flesch Readability Score: 76.5). Creates an Oregon tax subtraction for amounts received in settlement of civil actions arising from wildfire. [Allows] Creates an Oregon [itemized deduction] tax subtraction for wildfire-related legal fees paid by plaintiffs. Allows taxpayer to amend return to claim refund for earliest tax year in which a subtraction is allowed. Applies to wildfire emergency declarations and executive orders issued on or after January 1, 2018, and before January 1, 2026, and to amounts received, losses incurred and legal fees paid in all tax years beginning on or after January 1, [2020] 2018. Takes effect on the 91st day following adjournment sine die.
STATUS
Failed
SB1520 - Relating to an income tax subtraction for amounts received in wildfire litigation; prescribing an effective date.
Brian J. Boquist, David Brock Smith, Lynn Findley
Last updated 6 months ago
21 Co-Sponsors
Exempts awards from and legal fees paid in wildfire suits from income tax. (Flesch Readability Score: 76.5). Digest: Exempts award from wildfire suit from income tax. (Flesch Readability Score: 71.8).] Creates Oregon tax subtraction for amounts received in resolution of a civil action arising from wildfire. Creates an Oregon tax subtraction for wildfire-related legal fees paid by plaintiffs. Allows taxpayer to amend return to claim refund for earliest tax year in which subtraction is allowed. Applies to declarations and executive orders issued on or after January 1, [2020] 2018, and before January 1, 2026, and to amounts received, losses incurred and legal fees paid in tax years beginning on or after January 1, [2020] 2018. Takes effect on the 91st day following adjournment sine die.
STATUS
Passed
BIOGRAPHY
INCUMBENT
Representative from Oregon district HD-055
COMMITTEES
Oregon House
BIRTH
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ABOUT
Eric Werner Reschke was born in Menominee, Michigan. He received his undergraduate degree from Ferris State University and a Master's degree in Business Administration from Central Michigan University. Reschke served on the Menominee County Road Commission from 1985-2004. He was chairman of the Daggett County Commission in Michigan, as well as the Daggett Township and Daggett School District Supervisor. Reschke and his wife have 3 children and 5 grandchildren.read less
OFFICES HELD
Oregon House from Oregon
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