HB 3349 Oregon House · 2019 Regular Session

Relating to tax treatment of mortgage interest; prescribing an effective date.

Summary

Disallows, for purposes of personal income taxation, mortgage interest deduction for residence other than taxpayer's principal residence , unless taxpayer sells residence or actively markets residence for sale . Phases out allowable deduction for interest for principal residence based upon income. Disallows deduction for principal residence above threshold amount. Establishes Oregon Housing Opportunity Account. Transfers amount equal to estimated increase in revenue attributable to restrictions on deduction of mortgage interest to accounts in Oregon Housing Fund ] account . Applies to tax years beginning on or after January 1, 2019. Takes effect on 91st day following adjournment sine die.

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2019

Committee Review

Floor Vote

Governor

Introduced Mar 4, 2019 Last action Jul 1, 2019

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jul 1, 2019

Lower · Passed

In committee upon adjournment.

lower

Apr 1, 2019

Committee

Referred to Revenue by prior reference.

lower

Apr 1, 2019

Lower · Passed

Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Revenue by prior reference.

lower

Mar 6, 2019

Committee

Referred to Human Services and Housing with subsequent referral to Revenue.

lower

Mar 4, 2019

Introduced

First reading. Referred to Speaker's desk.

lower

6 primary · 15 co-sponsors