Relating to tax incentives for higher education loans; prescribing an effective date.

Creates subtraction from taxable income for payment of interest on principal of loans used to attend institution of higher education in Oregon to obtain degree. Creates credit against personal income taxes for payment of interest on principal of loans used to attend college or university in Oregon if taxpayer is granted associate's or higher degree in science, technology, engineering or mathematics and engages in related employment and volunteer service. Applies to tax years beginning on or after January 1, 2018, and before January 1, 2028. Takes effect on 91st day following adjournment sine die.