HB3738: Relating to an income tax subtraction for amounts received from retirement plans; prescribing an effective date.

Legislative Summary

The Act makes a new tax subtraction for amounts received from retirement plans. (Flesch Readability Score: 63.4). Creates an Oregon personal income tax subtraction for amounts received from retirement plans. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Takes effect on the 91st day following adjournment sine die.