Oregon 2023 Regular Session

Oregon House Bill HB3235

Introduced
2/14/23  
Refer
2/16/23  
Refer
3/31/23  
Refer
3/31/23  
Report Pass
6/21/23  
Engrossed
6/22/23  
Refer
6/22/23  
Report Pass
6/24/23  
Enrolled
6/24/23  
Passed
7/31/23  
Chaptered
8/15/23  

Caption

Relating to a child tax credit; and prescribing an effective date.

Impact

The enactment of HB 3235 will alter the state's approach to child tax credits, providing direct financial support to families with young children. This legislation is targeted towards enhancing the financial stability of families by allowing for advance payments based on income qualifiers. Its implementation is projected to enhance support for families through tax relief, aiming to reduce financial strain for those with children in their formative years. The bill's provisions indicate a change in how tax credits are managed and distributed in Oregon.

Summary

House Bill 3235, also known as the Child Tax Credit Act, introduces a child tax credit allowing taxpayers to claim $1,000 for each qualifying child under the age of six. The bill aims to help low- to medium-income families by providing a tax credit that can be claimed against their personal income tax, with provisions in place to ensure that it supports financial well-being. The tax credit will be adjustable based on the taxpayer's income and will not affect eligibility for federal public assistance programs, contingent on the approval of a necessary waiver from the USDA.

Sentiment

The sentiment surrounding HB 3235 appears largely positive among proponents who see it as a necessary step in supporting families and children. However, there are concerns among some legislators about the potential administrative burden associated with the waivers and eligibility verification processes. Supporters argue that the bill addresses crucial financial needs for low-income families, while opponents express worries over the feasibility of the government's mechanisms for distributing the credit efficiently.

Contention

Notable points of contention include discussions about the complexity of the waiver process required to exempt the payments from being considered in federal benefit eligibility. Some legislators worry that the requirements to qualify and claim the credit may inadvertently complicate the tax preparation process for families. Additionally, there are concerns regarding how effectively the state can manage the issuing of these credits and ensure they do not conflict with federal regulations, potentially inhibiting the intended benefits of the bill.

Companion Bills

No companion bills found.

Previously Filed As

OR SB694

Relating to children; prescribing an effective date.

OR HB2339

Relating to changes to the tax laws of this state; and prescribing an effective date.

OR HB2234

Relating to the political contribution tax credit; prescribing an effective date.

OR HB2566

Relating to personal income taxation; prescribing an effective date.

OR SB446

Relating to a child tax credit; prescribing an effective date.

OR HB2958

Relating to earned income tax credits; prescribing an effective date.

OR HB3900

Relating to tax treatment of mortgage interest; prescribing an effective date.

OR SB976

Relating to tax treatment of mortgage interest; prescribing an effective date.

OR HB2071

Relating to revenue; and prescribing an effective date.

OR HB2699

Relating to minimum wage rates; prescribing an effective date.

Similar Bills

OR HB2958

Relating to earned income tax credits; prescribing an effective date.

WV HB4850

Removing the sunset clause from Oil and Gas Personal Property Tax

WV SB395

Relating to valuation of industrial property and natural resources by Tax Commissioner

VT H0546

An act relating to administrative and policy changes to tax laws

OK SB299

Income tax; modifying certain apportionment factor for calculation of Oklahoma taxable income. Effective date.

RI H6043

Makes certain technical amendments /clarifications to the statutes relating to the assessment of real property and the timing and process to appeals thereof.

RI S0942

Makes certain technical amendments /clarifications to the statutes relating to the assessment of real property and the timing and process to appeals thereof.

US SB1393

American Family Act