Bill > HB2235

This bill creates a new tax credit for small businesses that install or upgrade security alarm systems, designed to encourage businesses with fewer than 50 full-time equivalent employees to improve their premises' security. The tax credit can be claimed against personal income or corporate excise taxes and applies to security alarm systems installed at eligible business locations in Oregon. Specifically, businesses can claim the credit for installing a new security system at a premises that either lacks a current system or has an existing system more than 10 years old, or for upgrading an existing system. The credit is limited to the installed price of the security system and cannot exceed the taxpayer's tax liability for that year. Any unused credit can be carried forward and applied to taxes in the next three succeeding tax years. The bill defines a "security alarm system" as a device or interconnected devices designed to warn of criminal activity or unauthorized entry, excluding systems owned or monitored by government law enforcement agencies. This tax credit will be available for tax years beginning on or after January 1, 2026, and before January 1, 2032, and will take effect 91 days after the 2025 legislative session adjourns.

Budget and Finance

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2235