Bill > HB2703

This bill introduces a new annual $9 personal income tax surtax specifically designed to fund emergency preparedness and resiliency efforts in Oregon, starting with tax years beginning on or after January 1, 2026. The surtax will be applied to personal income tax liability after credits are calculated, with the amount prorated based on months worked during the tax year. Importantly, the surtax will be waived for taxpayers whose income falls below federal poverty guidelines. The revenue collected from this surtax will be transferred to the Resiliency Grant Fund, and the tax will be administered similarly to standard income taxes, with the same audit, examination, and collection procedures. Nonresident taxpayers will have the surtax applied proportionally based on existing state tax regulations. The bill specifies that the surtax is not subject to standard tax withholding or estimated tax payment requirements, and it will take effect 91 days after the 2025 legislative session adjourns. The goal of this measure appears to be creating a dedicated funding source for improving the state's emergency preparedness and resilience capabilities.

Military Affairs and Security

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2703