Oregon Corporate Tax "Kicker" Funds for Education Initiative, Measure 85 (2012)
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Text of measure
The official ballot title is:[2]
Result of "Yes" Vote: "Yes" vote allocates the corporate income and excise tax "kicker" refund to the General Fund to provide additional funding for K through 12 public education.
Result of "No" Vote: "No" vote retains existing corporate income and excise tax "kicker" that requires refund to corporations when revenue exceeds estimated collections by two percent or more.
Summary: Amends constitution. Before each biennium, the governor must prepare an estimate of revenues expected to be received by the General Fund for the next biennium. The General Fund is the primary funding source for schools, prisons, social services other state-funded programs/services. Current law requires an automatic "kicker" refund of corporate income and excise tax revenue when that revenue exceeds estimated collections by two percent or more. Measure allocates the corporate income and excise tax "kicker" refund to the General Fund to provide additional funding for K through 12 public education. Measure does not change the constitutional personal income tax "kicker" provision that requires a refund to individual taxpayers when personal income tax revenue exceeds estimated revenue by two percent or more. Other provisions.
Path to the ballot
- See also: Oregon signature requirements
In order to qualify for the ballot, supporters are required to collect a minimum of 116,283 valid signatures by July 6, 2012. The measure was approved for circulation on April 17, 2012.[3]
See also
References
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