Oregon Business Tax for Education Funding Initiative (2018)
| Oregon Business Tax for Education Funding Initiative | |
|---|---|
 | |
| Election date November 6, 2018 | |
| Topic Taxes and Education | |
| Status Not on the ballot | |
| Type State statute | Origin Citizens |
The Oregon Business Tax for Education Funding Initiative was not on the ballot in Oregon as an initiated state statute on November 6, 2018.
The measure would have increase the corporate gross sales tax, dedicated revenue from the tax increase to education, and decreased the tax on personal income.
The corporate gross sales tax, also known as the minimum tax, would have increased for sales over $5 million from $4,000 to $4,001 plus 0.95 percent of the sales in excess over $5 million. Revenue from the tax increase would have been dedicated to public education, with 80 percent for K-12 education and 20 percent for higher education.[1]
The measure would have also decreased the personal income tax on the first $2,000 of taxable income from 5 percent to 3 percent; on the amount of taxable income between $2,000 and $5,000 from $100 plus 7 percent to $60 plus 5 percent; and on the amount of taxable income between $5,000 and $125,000 from $310 plus 9 percent to $210 plus 9 percent. The tax rate would have remained at $11,010 plus 9.9 percent on taxable income above $125,000.[1]
Text of measure
Full text
The measure would have amended Oregon Revised Statutes. The full text of the measure is available here.
Path to the ballot
Jennifer Scurlock and Charles John Larson filed the proposal with the Oregon secretary of state on June 2, 2017. Oregon requires that 1,000 signatures be submitted before a ballot title is drafted. Supporters submitted 1,131 on July 5, 2017.[2]
Sponsors of the initiative withdrew it from consideration on August 2, 2017, due to an error in the initiative's language.[3]
Petitioners were required to collect 88,184 valid signatures to get their initiated state statute on the ballot. Signatures for initiatives needed to be submitted four months prior to the election on November 6, 2018, which was July 6, 2018.
See also
External links
Footnotes
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