HB 3010 Oregon House · 2023 Regular Session

Relating to first-time home ownership; prescribing an effective date.

Summary

Limits, for purposes of personal income taxation, amount of allowed mortgage interest deduction. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2028. Establishes Oregon First-Time Home Buyer Account. Transfers amount equal to 50 percent of estimated increase in revenue attributable to restriction on deduction of mortgage interest to account. Establishes credit against personal income taxes for percentage of purchase price of home purchased by first-time home buyer. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2028. Establishes Task Force on First-Time Ownership. Requires task force to report findings and recommendations to interim committee of Legislative Assembly related to revenue on or before September 15, 2024. Sunsets task force December 31, 2024. Takes effect on 91st day following adjournment sine die.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2023

Committee Review

Floor Vote

Governor

Introduced Jan 9, 2023 Last action Jun 25, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jun 25, 2023

Lower · Passed

In committee upon adjournment.

lower

Mar 24, 2023

Committee

Referred to Revenue by order of Speaker and Tax Expenditures by prior reference and then Ways and Means by order of the Speaker.

lower

Mar 24, 2023

Committee

Without recommendation as to passage, be referred to Revenue, then Tax Expenditures by prior reference, then Ways and Means.

lower

Jan 16, 2023

Committee

Referred to Housing and Homelessness with subsequent referral to Tax Expenditures.

lower

Jan 9, 2023

Introduced

First reading. Referred to Speaker's desk.

lower

2 primary · 3 co-sponsors