77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 2942

                         House Bill 3261

Sponsored by Representatives FAGAN, HOYLE, MCKEOWN;
  Representatives BARKER, BOONE, CAMERON, CLEM, ESQUIVEL,
  GALLEGOS, GARRETT, GELSER, GILLIAM, GOMBERG, HUFFMAN, KENNEMER,
  KENY-GUYER, KOMP, LIVELY, OLSON, PARRISH, SMITH, WEIDNER,
  WHISNANT, WILLIAMSON, WITT, Senators BATES, JOHNSON

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Establishes refundable credit against personal income taxes for
purchase of qualifying gun safes.
  Applies to tax years beginning on or after January 1, 2013, and
before January 1, 2015.
  Takes effect on 91st day following adjournment sine die.

                        A BILL FOR AN ACT
Relating to a tax credit for gun safes; and prescribing an
  effective date.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Section 2 of this 2013 Act is added to and made
a part of ORS chapter 315. + }
  SECTION 2.  { + (1) As used in this section, 'qualifying gun
safe' means a gun safe, or handgun vault, that is commercially
available and that is made from steel and secured with a digital
or dial combination locking mechanism. 'Qualifying gun safe '
does not include a glass-faced cabinet.
  (2) A credit against taxes otherwise imposed under ORS chapter
316 shall be allowed for the purchase of one or more qualifying
gun safes during the tax year. The amount of the credit allowed
under this section shall be 50 percent of the total purchase
price of the qualifying gun safes, but the combined total claimed
by a taxpayer in all tax years may not exceed $250.
  (3) A taxpayer shall be allowed a credit under this section
only if the taxpayer has an adjusted gross income not exceeding
$100,000, if filing an individual return, or, for all other
filers, $200,000.
  (4) If the amount allowable as a credit under this section,
when added to the sum of the amounts allowable as payment of tax
under ORS 316.187 (withholding), ORS 316.583 (estimated tax),
other tax prepayment amounts and other refundable credit amounts,
exceeds the taxes imposed by ORS chapters 314 and 316 for the tax
year (reduced by any nonrefundable credits allowable for purposes
of ORS chapter 316 for the tax year), the amount of the excess
shall be refunded to the taxpayer as provided in ORS 316.502.

  (5) The credit shall be claimed on a form prescribed by the
Department of Revenue that contains the information required by
the department.
  (6) In the case of a credit allowed under this section:
  (a) A nonresident shall be allowed the credit in the proportion
provided in ORS 316.117.
  (b) If a change in the status of the taxpayer from resident to
nonresident or from nonresident to resident occurs, the credit
shall be determined in a manner consistent with ORS 316.117.
  (c) If a change in the taxable year of the taxpayer occurs as
described in ORS 314.085, or if the department terminates the
taxpayer's taxable year under ORS 314.440, the credit shall be
prorated or computed in a manner consistent with ORS 314.085. + }
  SECTION 3.  { + Section 2 of this 2013 Act applies to tax years
beginning on or after January 1, 2013, and before January 1,
2015. + }
  SECTION 4.  { + This 2013 Act takes effect on the 91st day
after the date on which the 2013 regular session of the
Seventy-seventh Legislative Assembly adjourns sine die. + }
                         ----------