All Roll Calls
Yes: 89 • No: 89
OregonSB 15072026 Regular SessionSenateWALLET
Relating to revenue; and prescribing an effective date.
Sponsored By: Sponsor information unavailable
Signed by Governor
Personalized for You
How does this bill affect your finances?
Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
14 provisions identified: 5 benefits, 3 costs, 6 mixed.
Employers get credits for new jobs
For tax years starting in 2026 through 2031, employers can claim $1,000 per net new Oregon job, up to $10,000 yearly. Jobs must pay at least 150% of the applicable minimum wage, and employers need written Oregon Business Development Department certification. Net new jobs use average annual covered employment for a 12-month period ending June 30 compared with the prior period. The credit cannot exceed tax owed, but unused amounts carry forward for up to three years. A $12.5 million yearly statewide cap triggers proportional reductions when applications exceed it; credits also pass through to S corporation shareholders.
Investors lose Oregon stock gain exclusion
For tax years starting January 1, 2026, or later, Oregon taxes qualified small business stock gains excluded federally. Investors must add those excluded gains back to Oregon taxable income when they sell or exchange the stock.
Retirement credit for public workers’ military service
Public workers who leave qualifying jobs for uniformed service receive retirement protection when they return with federal reemployment rights. The retirement board must provide pension benefits, individual-account contributions, and service credit for qualifying service periods. These amounts cannot exceed federal requirements, using the federal tax rules in effect December 31, 2025.
Bigger earned income credits for workers
For tax years starting January 1, 2026, or later, Oregon raises its earned income credit from 9% to 14% of the federal credit. For taxpayers with a dependent under age three at year-end, the rate rises from 12% to 17%. Eligible residents can use a Social Security number or an individual taxpayer identification number, including those barred only by the federal identification-number rule. Eligible nonresidents get a prorated credit. The credit is refundable within combined refundable-credit limits, and refunds do not earn interest.
Vehicle borrowers lose Oregon interest deduction
For tax years starting January 1, 2026, or later, Oregon does not allow the federal qualified passenger vehicle loan interest deduction. Taxpayers who claim that federal deduction must add the interest back to their Oregon taxable income.
Businesses must delay some equipment deductions
Oregon changes deduction timing for property placed in service in tax years starting January 1, 2026, or later. Taxpayers must add back bonus depreciation above the amount allowed under federal rules dated December 1, 2017. They can subtract those added amounts in the later years when those older rules allow the deductions.
Shareholders can represent qualifying tax businesses
Shareholders can represent qualifying S corporations in specified Oregon revenue department and tax court proceedings. The law uses the federal S corporation definition dated December 31, 2025. Representation under the revenue department route requires the corporation to name a tax matters shareholder in writing.
Precious metal dealers get tax exclusion
Precious metal dealers can exclude qualifying metal purchase costs from Oregon’s Corporate Activity Tax base. Covered metals are gold, silver, platinum, rhodium, and palladium that are smelted or refined and valued by metal content rather than form. The tax also updates its federal-law reference from December 31, 2023, to December 31, 2025, unless Oregon law provides otherwise.
Public workers face retirement benefit limits
Combined yearly additions to a public worker’s individual retirement accounts cannot exceed the lower of $40,000 or 100% of compensation. This counts the Oregon public retirement individual account and other defined-contribution plans maintained by the participating public employer. Combined pension benefits also face the federal annual benefit limit, including applicable IRS cost-of-living adjustments. Both rules use federal provisions dated December 31, 2025.
Updated paid leave rules for self-employment
Oregon paid leave law updates its federal definition of self-employment income to December 31, 2025, from December 31, 2023. The self-employed category includes people with qualifying self-employment income or independent-contractor status under Oregon law. The update does not specify a benefit increase, benefit cut, or definite eligibility change.
Public retirement rollovers and payout rules
Oregon public pension and individual-account payments, including death benefits, must follow federal minimum-distribution rules dated January 1, 2026. The retirement board must adopt rules to carry them out. Members, surviving spouses, and alternate payees can send eligible payments directly to eligible retirement plans, subject to permitted administrative exceptions. A non-spouse designated beneficiary can roll an eligible death benefit into an individual retirement plan or annuity established for that beneficiary. The rollover rules use federal law dated December 31, 2025.
Updated nonprofit rules for matched savings
Oregon updates the nonprofit tax-exemption standard for organizations administering state-funded individual development accounts. The standard now uses federal law dated December 31, 2025, rather than December 31, 2023. Organizations must also be selected under the state program to administer the money. The update does not specify a change to account holders’ benefits or amounts.
Unemployment law updates federal tax reference
Oregon unemployment law now references the federal tax code dated December 31, 2025, rather than December 31, 2023. This provision does not specify a change in unemployment checks, eligibility, or employer tax liability.
Updated tax rules bring retroactive relief
Several Oregon tax rules now reference federal law dated December 31, 2025, instead of December 31, 2023. Covered rules include income taxes, credits, charitable checkoffs, property taxes, and housing-loan credits. Some taxable-income references still follow federal law for the taxpayer’s tax year; specified federal amendments must be made by December 31, 2025, even if operative later. For tax years starting before January 1, 2026, Oregon cancels interest and penalties on deficiencies caused by specified retroactive amendments. Refund portions caused by the specified retroactive amendments are paid without interest.
Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 2/25/2026
Passed.
Yes: 34 • No: 21
House vote • 2/25/2026
Motion to re-refer to Revenue failed.
Yes: 19 • No: 33
House vote • 2/19/2026
Revenue: Heard and Reported Out
Yes: 4 • No: 2
Senate vote • 2/16/2026
Rules suspended. Motion to substitute Minority Report for Committee Report failed.
Yes: 12 • No: 18
Senate vote • 2/16/2026
Rules suspended. Third reading. Carried by Broadman. Passed.
Yes: 17 • No: 13
Senate vote • 2/9/2026
Finance and Revenue: Heard and Reported Out with Amendments
Yes: 3 • No: 2
Actions Timeline
Effective date, June 5, 2026.
4/14/2026SenateChapter 142, 2026 Laws.
4/14/2026SenateGovernor signed.
4/9/2026SenateSpeaker signed.
3/4/2026HousePresident signed.
2/27/2026SenatePassed.
2/25/2026HouseMotion to re-refer to Revenue failed.
2/25/2026HouseThird reading. Carried by Nathanson.
2/25/2026HouseSecond reading.
2/24/2026HouseRecommendation: Do pass.
2/20/2026HouseWork Session held.
2/19/2026HousePublic Hearing held.
2/18/2026HouseReferred to Revenue.
2/16/2026HouseFirst reading. Referred to Speaker's desk.
2/16/2026HouseVote explanation(s) filed by Starr.
2/16/2026SenateRules suspended. Third reading. Carried by Broadman. Passed.
2/16/2026SenateRules suspended. Motion to substitute Minority Report for Committee Report failed.
2/16/2026SenateSecond reading.
2/16/2026SenateMinority Recommendation: Do pass with different amendments. (Printed A-Eng. Minority)
2/13/2026SenateRecommendation: Do pass with amendments. (Printed A-Eng).
2/13/2026SenateWork Session held.
2/9/2026SenatePublic Hearing held.
2/4/2026SenateReferred to Finance and Revenue.
2/2/2026SenateIntroduction and first reading. Referred to President's desk.
2/2/2026Senate
Bill Text
HREV Amendment -A10 (Proposed)
2/19/2026
HREV Amendment -A11 (Proposed)
2/19/2026
HREV Amendment -A12 (Proposed)
2/19/2026
HREV Amendment -A10 (Proposed)
2/18/2026
HREV Amendment -A11 (Proposed)
2/18/2026
HREV Amendment -A12 (Proposed)
2/18/2026
SFR Amendment -3 (Adopted)
2/9/2026
SFR Amendment -6 (Proposed)
2/9/2026
SFR Amendment -7 (Adopted)
2/9/2026
SFR Amendment -9 (Adopted)
2/9/2026
SFR Amendment -MR8 (Proposed)
2/9/2026
SFR Amendment -3 (Proposed)
2/4/2026
SFR Amendment -4 (Proposed)
2/4/2026
SFR Amendment -5 (Proposed)
2/4/2026
A-Engrossed
Enrolled
Introduced
Minority Report A-Engrossed
Senate Amendments to Introduced
Senate Minority Amendments to Introduced
Related Bills
SB 5703, Relating to state financial administration; and declaring an emergency.
SB 1601, Relating to state financial administration; and declaring an emergency.
SB 1575, Relating to hospice licensure; and declaring an emergency.
SB 5701, Relating to state financial administration; and declaring an emergency.
SB 1585, Relating to matching grants for cities; and prescribing an effective date.
SB 5702, Relating to state financial administration; and declaring an emergency.