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House bill would correct obsolete Internal Revenue Code reference in Oregon R&D and semiconductor tax credits
Summary
A technical amendment in House Bill 2,095 would update statutory cross-references for Oregon's research and development and semiconductor tax credits to remove an obsolete Internal Revenue Code citation.
House Committee on Revenue members heard from a presenter that House Bill 2,095 would make a narrowly targeted technical correction to Oregon law governing research and development and semiconductor tax credits.
The bill removes an obsolete cross-reference to the Internal Revenue Code in the Oregon Revised Statutes that governs the state's R&D and semiconductor tax-credit rules, a presenter said. The change is intended to align state statute language with the current structure of the federal code after prior federal reorganizations.
The bill sponsor's presenter told the committee that the change is technical only and does not alter program policy or benefit levels. No members of the public signed up to testify on the measure, and the committee closed the public hearing after brief discussion.
Committee members did not propose substantive amendments during the hearing and no votes were recorded on HB 2,095.
