Bill > SB112

This bill extends the sunset date for a tax credit related to pension income in Oregon. Specifically, the bill amends an existing law to push back the date after which taxpayers can no longer claim a tax credit under ORS 316.157 from January 1, 2026 to January 1, 2032. This means that Oregon residents will be able to continue claiming the pension income tax credit for an additional six years beyond the previously established expiration date. The tax credit, which allows certain taxpayers to reduce their state tax liability based on their pension income, will remain available for tax years beginning before January 1, 2032. By extending the sunset date, the bill provides continued tax relief for pensioners and maintains a financial benefit that could help support retirees in the state.

Budget and Finance

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB112