Budget & Taxes

Establishes and modifies certain biennial appropriations made from the General Fund to specified state agencies and the Emergency Board. Establishes and modifies limitations on expenditures for certain biennial expenses for specified state agencies. Declares an emergency, effective on passage.

Increases the state transient lodging tax. Changes the name of the Oregon Conservation Strategy Subaccount to the Recovering Oregon's Wildlife Fund Subaccount. Specifies how moneys attributable to the increase are to be distributed. Applies the transient lodging tax increase to transient lodging charges occurring on or after January 1, 2027. Takes effect on the 91st day following adjournment sine die.

Creates a corporate excise tax credit for each of the first three years that a bank does business in this state. Applies only to Oregon-chartered banks that commence business in tax years beginning on or after January 1, 2027, and before January 1, 2033. Takes effect on the 91st day following adjournment sine die.

] [ Defines "container" and "industrial hemp-derived cannabinoid product." Changes the definition of "adult use cannabis item." Imposes a retail sales tax on industrial hemp-derived cannabinoid products. Directs the Oregon Liquor and Cannabis Commission to immediately suspend a license to produce marijuana for specified reasons. Directs the commission to inspect a premises licensed by the commission without advance notice for specified reasons and to request that law enforcement accompany the commission to the premises. ] [ Requires the State Department of Agriculture to complete a criminal records check on an applicant for an industrial hemp handler license. Requires an applicant for an industrial hemp grower license to provide a land use compatibility statement and information related to land ownership to the department. Directs the department to inspect a premises licensed by the department without advance notice for specified reasons and to request that law enforcement accompany the department to the premises. ] Increases quarterly distributions to the Oregon Criminal Justice Commission for deposit into the Illegal Marijuana Market Enforcement Grant Program Fund from $750,000 to $3 million. Expands the definition of "debilitating medical condition" to include medical conditions that an attending provider determines might be mitigated by the medical use of marijuana. Takes effect on the 91st day following adjournment sine die.