Bill > SB662

This bill increases the tax credit available for political contributions in Oregon, expanding the maximum allowable amount from $50 or $100 (depending on tax return type) to $1,000 for individual returns and $2,000 for joint returns. The credit can be claimed for monetary contributions made to major or minor political parties, candidates for federal, state, or local elective offices, and certified political committees. To be eligible, taxpayers must have a federal adjusted gross income below $75,000 for individual returns or $150,000 for joint returns. The bill requires taxpayers to submit official receipts from the recipient of the contribution when claiming the tax credit. These changes will apply to tax years beginning on or after January 1, 2025, and before January 1, 2028, with the act taking effect 91 days after the adjournment of the 2025 regular legislative session. The purpose of the bill appears to be to encourage political participation by providing a more substantial tax incentive for making political contributions.

Budget and Finance

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB662