HB3523: Relating to an income tax subtraction for wildfire settlements; prescribing an effective date.

Legislative Summary

Creates Oregon tax subtraction for amounts received in settlement of civil action arising from wildfire. Creates Oregon tax subtraction for amounts received in settlement of civil action arising from wildfire. Applies to amounts received in tax years beginning on or after January 1, 2020, and before January 1, 2026. Takes effect on 91st day following adjournment sine die.