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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Senate Bill 781
Sponsored by Senator NASH, Representatives LEVY B, SMITH G (Presession filed.)
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 says that if a credit union buys a bank, certain receipts remain subject to cer-
tain taxes. (Flesch Readability Score: 61.6).
Provides that if a credit union acquires assets of a banking institution, receipts from the busi-
ness portfolio acquired from the bank remain subject to the corporate excise tax and corporate ac-
tivity tax.
A BILL FOR AN ACT
Relating to the acquisition of bank assets by a credit union.
Be It Enacted by the People of the State of Oregon:
SECTION 1. Section 2 of this 2025 Act is added to and made a part of ORS chapter 723.
SECTION 2. (1) Notwithstanding ORS 723.752, if a credit union purchases or otherwise
acquires assets of a banking institution, receipts derived from the business portfolio acquired
from the banking institution are treated, for the purposes of taxation under ORS chapter 317
and ORS 317A.100 to 317A.158, as if they were received by a banking institution.
(2) As used in this section:
(a) “Banking institution” has the meaning given that term in ORS 706.008.
(b) “Business” means any corporation, partnership, company, cooperative, sole
proprietorship or other legal entity organized or operating for pecuniary or nonpecuniary
gain.
(c) “Business portfolio” means loans made to businesses and services provided to busi-
nesses.
(d) “Credit union” has the meaning given that term in ORS 723.006.
SECTION 3. Section 2 of this 2025 Act applies to assets transferred pursuant to trans-
actions that close on or after the effective date of this 2025 Act.
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 1694