Business and Finance Committee
Chair: Robert Manicke, Stoel Rives
1. 2014 Tax Credits:
In the 2009 session, the legislature passed a law that sunsets one-third of all income tax credits every biennium. Accordingly, the legislature will review a number of credits in the 2013 session.
OBA will focus on tax credits that directly have to do with business and supports the following:
- Have a well-defined purpose,
- Include mechanisms to objectively evaluate whether the purpose has been achieved,
- Not be excessively burdensome on government or the participants, and
- Promote one or more of the following goals:Encourage innovation and intellectual property,
- Cultivate Oregon’s leadership position in environmental quality and clean technology,
- Support traded-sector job growth,
- Grow Oregon’s per capita income, in line with OBA’s stated goal.
Applying these principles, OBA supports extending the following credit:
Manufacturing Business Energy Tax Credit
In addition, OBA will support:
- Expanding the carryover period of the child care tax credit by an additional 5 years.
- Restoring the research and development tax credit from $1 million to $2 million.
Oregon Investment Board:
In 2012, the Oregon Legislature, with bipartisan support, passed the Oregon Investment Act, establishing the Oregon Growth Board. The legislation is designed to improve the state’s efforts to connect Oregon Businesses to sources of investment capital, as well as improving access to state loan and technical assistance programs so that employers can achieve their job-creation goals. OBA supports the next step of creating a funding stream in order to make the Oregon Growth Board a permanent body. This funding will include support for investments across the capital continuum, including early state companies, venture capital and later-state growth investments.
2013 Committee Schedule: First Tuesdays, Noon – 1:30
OBA Staff Contact: D.J. Vogt