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82nd OREGON LEGISLATIVE ASSEMBLY--2024 Regular Session
SENATE AMENDMENTS TO
SENATE BILL 1520
By COMMITTEE ON FINANCE AND REVENUE
February 23
In line 7 of the printed bill, delete “settlement of a civil action” and insert “judgment or
settlement resulting from a civil action”.
In line 9, delete “settlement” and insert “resolution”.
Delete lines 16 through 22 and insert:
“(3) A subtraction under this section:
“(a) Is not allowed for any amount described in subsection (1) of this section that is taken into
account as a deduction on the taxpayer’s federal income tax return for the tax year; and
“(b) Is allowed only to the extent that losses, expenses or other damages compensated by the
amount of the judgment or settlement are not compensated for by insurance or otherwise.
“SECTION 3. Section 2 of this 2024 Act applies to declarations and executive orders is-
sued on or after January 1, 2020, and before January 1, 2026, and, notwithstanding ORS
315.037, to amounts received in all tax years beginning on or after January 1, 2020.
“SECTION 4. (1) Any taxpayer who seeks a refund due to exemption of amounts from
taxation as provided in section 2 of this 2024 Act, as applicable to tax years beginning in
calendar year 2020, shall file an amended return for the applicable tax year.
“(2) Notwithstanding ORS 314.415 (2), a taxpayer may file a claim for a refund described
in subsection (1) of this section at any time prior to May 15, 2025.
“(3) A refund described in this section does not bear interest under ORS 305.220. ”.
In line 23, delete “4” and insert “5”.
LC 177/SB 1520-2