Oregon legislation · 2025 Legislative Measures
Oregon SB93: Relating to tax incentives for financial institution lending in rural areas; prescribing an effective date.
Status: Chaptered, April 6, 2026
Digest: The Act makes a new tax subtraction for banks that loan for rural farms, houses or boats. (Flesch Readability Score: 72.3). Creates an Oregon tax subtraction for interest received by financial institutions from loans made for the purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Exempts from commercial activity subject to the corporate activity tax interest received by financial institutions from loans made for the purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Takes effect on the 91st day following adjournment sine die.
What the bill says
A bill FOR AN ACT Relating to tax incentives for financial institution lending in rural areas; and prescribing an effective date.
From the introduced text, January 10, 2025:
A BILL FOR AN ACT Relating to tax incentives for financial institution lending in rural areas; and prescribing an effective date. Be It Enacted by the People of the State of Oregon: SECTION 1. Sections 2 and 3 of this 2025 Act are added to and made a part of ORS chapter 317. SECTION 2. As used in this section and section 3 of this 2025 Act: (1) "Coastal fishing boat" means a commercial fishing vessel that holds a valid boat license issued under ORS 508.260 and a permit issued under ORS chapter 508 or under the laws of the State of Washington or California that is valid for operation in the ocean fishery. (2) "Farm products" has the meaning given that term in ORS 576.006. (3) "Financial institution" means an insured institution as defined in ORS 706.008. (4) "Interest" means interest on indebtedness attributed to Oregon and incurred in the ordinary course of the active conduct of any business or interest on indebtedness incurred that is secured by a single family residence. (5) "Qualified agricultural real estate loan" means a loan made on real property that is substantially used for the production of one or more farm products and (b) Is secured by a first lien interest in real estate, except that the loans may be secured by a …
Sponsors
- Mark Meek (D, 20) · primary sponsor
- Richard Anderson (R, 5)
- Mike McLane (R, 30)
- Todd Nash (R, 29)
Latest actions
- : Chapter 65, (2026 Laws): Effective date January 1, 2027.
- : Governor signed.
- : President signed.
- : Speaker signed.
- : Third reading. Carried by Gelser Blouin. Passed.
- : Carried over to 03-03 by unanimous consent.
- : Second reading.
- : Recommendation: Do pass the A-Eng. bill.
- : Work Session held.
- : Public Hearing held.
Subjects: Finance and Revenue
Common questions
- What is SB93?
- SB93 is a bill in the Oregon Legislature (2025 Legislative Measures): Relating to tax incentives for financial institution lending in rural areas; prescribing an effective date.
- What does SB93 do?
- In its own words: A bill FOR AN ACT Relating to tax incentives for financial institution lending in rural areas; and prescribing an effective date.
- What is the status of SB93?
- Chaptered as of April 6, 2026. Latest action: Chapter 65, (2026 Laws): Effective date January 1, 2027. (April 6, 2026).
- Who sponsored SB93?
- Mark Meek (D, 20), with 3 co-sponsors.
- Where is the official record for SB93?
- On the Oregon Legislature website: https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/93
Source: official Oregon record. Tracked by Delilah, AI for legislation across all 50 states and Congress.