Oregon Governor Indicators Invoice to Change Revenue, Property, and Excise Tax Laws for ABLE Accounts and Different Areas

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July 20, 2021, 5:00 a.m.

The Governor of Oregon signed a bill on July 19 that changes various provisions relating to corporate taxes, individual income taxes, property, and excise taxes. The Act includes actions: 1) Updating References to the Internal Revenue Code for the Purpose of Having a Better Life Experience (ABLE) by April 1st; 2) Modification of the definition of “low income” for tax exemption purposes for low income rental properties; 3) Clarification that the property tax exemption for environmentally sensitive logging equipment applies to logging equipment that is actually used or held for use; 4) Allow the Ministry of Finance to share information with the Ministry of Motor Vehicles for …

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