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HB 3611 <br />Relating Clause: Relating to subtraction for health insurance premium payments. <br />Title: Creates subtraction from federal taxable income for health insurance premium <br />payments made during tax year by individual taxpayer for health benefit <br />coverage of taxpayer, taxpayer's spouse or dependents. Applies to tax years <br />beginning on or after January 1, 2010. <br />Sponsored By: Sponsored by Representative MAURER (Presession filed.) <br />Contact Respondent Dept Updated Priority Policy Policy No Recommendation <br />Larry Hill CS-FIN 01/11/2010 Pri 3 No Neutral <br />Comments: HB 3611 would provide a state income tax benefit to individual taxpayers who make <br />health insurance premium payments. Rather being treated as deducions, health insurance <br />premium payments would be subtracted from taxable income when calculating state <br />income tax liability. This would have no direct fiscal impact on the City of Eugene. It <br />would decrease state income tax revenue and would probably have an adverse impact on <br />the state budget. <br />HB 3612 <br />Relating Clause: Relating to additional property taxes; creating new provisions; amending ORS <br />311.206 and 311.229; and prescribing an effective date. <br />Title: Allows repayment, one tax year at time, of additional ad valorem property taxes <br />owing due to correction of error or omission of property in prior tax years. <br />Applies to property tax years beginning on or after July 1, 2010. Takes effect on <br />91st day following adjournment sine die. <br />Sponsored By: Sponsored by Representative BUCKLEY (Presession filed.) <br />Contact Respondent Dept Updated Priority Policy Policy No Recommendation <br />Larry Hill CS-FIN 01/11/2010 No Monitor <br />Comments: HB 3612 would change how additional taxes resulting from correction of the tax roll are <br />collected. Currently all additional taxes are imposed in the year following the correction, <br />even if the correction is for several previous years. This bill would schedule imposition of <br />additional taxes over the same number of years as are corrected. All additional taxes <br />would be collected, though in some cases this could occur over a number of years rather <br />than in a single year. The change would likely have only a small impact on City revenues <br />11 | Page <br /> <br />