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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Senate Bill 1205
Sponsored by Senator SMITH DB
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 the sunset for the tax subtraction for awards from wildfire lawsuits.
(Flesch Readability Score:65.7).
Extends the sunset for the personal income tax subtraction for amounts received in resolution
of a civil action arising from wildfire.
A BILL FOR AN ACT
Relating to tax subtractions for amounts received in wildfire litigation; amending section 4, chapter
50, Oregon Laws 2024.
Be It Enacted by the People of the State of Oregon:
SECTION 1. Section 4, chapter 50, Oregon Laws 2024, is amended to read:
Sec. 4. (1) Section 2 [of this 2024 Act], chapter 50, Oregon Laws 2024, applies to declarations
and executive orders issued on or after January 1, 2018, and before January 1, [2026] 2028, and,
notwithstanding ORS 315.037, to amounts received in all tax years beginning on or after January
1,2018.
(2) Section 3 [of this 2024 Act], chapter 50, Oregon Laws 2024, applies to:
(a) Declarations and executive orders issued on or after January 1, 2018, and before January
1, 2026; and
(b) Notwithstanding ORS 315.037, losses incurred and legal fees paid or incurred in all tax years
beginning on or after January 1, 2018.
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 4824