Oregon R&D, Child Tax Credit Bills Win Passage as Session Ends

Oregon lawmakers approved bills to reboot the state’s research and development tax credit for semiconductor companies and create a $1,000 child tax credit before adjourning for the year on Sunday.

The child tax credit (H.B. 3235) would be refundable and available to families earning $30,000 a year or less with children up through age 5, benefiting about 55,000 children. It would apply to tax years 2023 through 2028, with state revenue losses that peak at $77.5 million in the 2027-29 biennium.

The Senate passed the bill 24-1 over the weekend, enabling the next step of ...