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Senate advances SB 123 amendment to preserve corporate-activities tax relief for small and critical-access pharmacies and homebuilder subcontractor subtraction
Summary
The Senate Committee on Finance and Revenue on June 9 adopted a dash 1 amendment to Senate Bill 123 that preserves CAT relief for small and critical-access pharmacies and retains a subcontractor subtraction for single-family homebuilders, and referred the bill to the Joint Committee on Tax Expenditures.
The Senate Committee on Finance and Revenue adopted the dash 1 amendment to Senate Bill 123 on June 9 and moved the measure to the Joint Committee on Tax Expenditures (JTAC) with a due-pass recommendation.
Committee staff summarized that the dash 1 replaces the content of the introduced study bill and modifies the CAT definition of an eligible pharmacy to exclude prescription drug sales receipts from commercial activity for pharmacies with at least one but fewer than 10 in-state locations and for critical-access pharmacies as defined by the Oregon Health Authority. The amendment removes sunsets…
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