HB2812: Relating to income tax deductions for personal casualty loss; and prescribing an effective date.

Legislative Summary

Creates Oregon tax subtraction for amounts of personal casualty loss that are barred from deduction on federal tax return because loss is not attributable to federally declared disaster. Creates Oregon tax subtraction for amounts of personal casualty loss that are barred from deduction on federal tax return because loss is not attributable to federally declared disaster. Applies to tax years beginning on or after January 1, 2020, and before January 1, 2026. Takes effect on 91st day following adjournment sine die.