The Oregon Legislature has approved a change in kicker tax rebates with House Bill 3543.
The Oregon Legislature has approved a change in kicker tax rebates with House Bill 3543.
Future tax rebates to people will be in the form of a credit against their next year’s taxes, rather than a check. The credits would revert to the refund method used before 1995, when lawmakers decided that the Department of Revenue should mail checks to taxpayers.
In late 2007, when the most recent “kicker” rebate occurred, it cost the state more than $1 million to process checks and $21 million more in interest to borrow the $1.1 billion to pay the rebates. Neither of those costs would have been incurred had the rebate been as a credit.
Read more at the Statesman Journal.
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