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Panel hears testimony on SB 1520; Employment Department says accounting fix avoids taxes or reduced benefits
Summary
In a public hearing on SB 1520, the Oregon Employment Department and supporters said an accounting system labeling employer and employee contributions will allow the state to comply with new IRS guidance without increasing costs or reducing benefits; the committee plans to work the bill on Wednesday.
The House Committee on Labor and Workforce Development held a public hearing on Senate Bill 1520 on Feb. 16, hearing agency witnesses and stakeholders about a narrowly drawn fix to comply with a recent Internal Revenue Service ruling that changes how paid-leave contributions and benefits are treated for federal tax purposes.
Andrew Stolfi, director of the Oregon Employment Department (OED), told the committee the IRS issued guidance earlier this year that could, without legislative or administrative action, require the program to implement payroll-tax withholding changes that would be costly and could shift tax burdens. He said…
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