Revenue
Legislative Report - Week of 4/14
Revenue Team
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Revenue Updates
Revenue Updates
By Natalie Briggs
House Bill 2089 was created in response to the U.S. Supreme Court’s decision on Tyler v. Hennepin County in 2023 which rules that when counties foreclose properties to repay delinquent property taxes, the government may not take property beyond what is needed to satisfy the debt. Bill 2089 establishes a process in Oregon for former property owners to claim surplus value after foreclosed property is sold by the county, ensuring that individuals who lose their property due to delinquent taxes can benefit from any excess funds generated from the sale. The bill will undergo further revisions before being finalized. Critics of the bill in its current form cite opposition to several details, including requirements to attempt to contract a real estate agent, 3rd party appraisal requirements, and the lack of provisions to provide lenders an opportunity to assert a claim on the surplus proceeds to recover debts owed.
House Bill 3049 was introduced at the request of Governor Tina Kotek for Oregon Business Development Department. It seeks to modify provisions for corporate excise tax exemptions for businesses operating in economically lagging areas. While this exemption exists in Oregon currently, the program is believed to be underutilized due to complex eligibility calculations. The new bill provides simplified methods to determine eligibility and employee wage requirements, and limits the amount of exemptions that a single business may claim. The changes proposed in this bill are intended to increase participation in the program and generate additional business activity in economically lagging regions.