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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Senate Bill 101
Printed pursuant to Senate Interim Rule 213.28 by order of the President of the Senate in conformance with pre-
session filing rules, indicating neither advocacy nor opposition on the part of the President (at the request
of Senate Interim Committee on Finance and Revenue)
SUMMARY
The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject
to consideration by the Legislative Assembly. It is an editor’s brief statement of the essential features of the
measure as introduced.The statement includes a measure digest written in compliance with applicable readability
standards.
Digest: The Act extends date by which one must open first-time home buyer savings account in
order to claim tax benefits. (Flesch Readability Score: 63.8).
Extends the date by which an account holder must open a first-time home buyer savings account
in order to claim a subtraction for contributed funds or an exemption for earnings.Extends the
sunset for the use of the subtraction and exemption.
A BILL FOR AN ACT
Relating to first-time home buyer savings accounts; amending ORS 316.798 and section 9, chapter
109, Oregon Laws 2018.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 316.798 is amended to read:
316.798. (1) Subject to ORS 316.800, and in addition to the other modifications to federal taxable
income contained in this chapter, there shall be subtracted from federal taxable income the amount
of funds contributed by an account holder to the account holder’s first-time home buyer savings
account during the tax year, not to exceed $5,000 for an account holder who files an individual in-
come tax return or $10,000 for joint account holders who file a joint income tax return.
(2) Earnings, including interest and other income, on the principal in the account during the tax
year are exempt from taxation until withdrawn by the taxpayer, subject to subsection (3) of this
section.
(3) An account holder may claim the subtraction and exemption under subsections (1) and (2)
of this section:
(a) For contributions made into a first-time home buyer savings account opened before January
1, [2027] 2032;
(b) For a period not to exceed 10 years from the date the account holder first opens any first-
time home buyer savings account; and
(c) For an aggregate total amount of principal and earnings not to exceed $50,000 during the
10-yearperiod.
(4) A person other than the account holder who deposits funds in a first-time home buyer savings
account is not entitled to the subtraction and exemption provided for in this section.
SECTION 2. Section 9, chapter 109, Oregon Laws 2018, is amended to read:
Sec. 9. [Sections 2 to 8 of this 2018 Act] ORS 316.796 to 316.803 apply to tax years beginning
on or after January 1, 2019, and before January 1, [2037] 2042.
NOTE:Matter in boldfaced type in an amended section is new; matter [italic and bracketed] is existing law to be omitted.
New sections are in boldfaced type.
LC 1158