Kicker Tax Rebate How it Works Every two years forecast personal income and corporate tax returns for the coming two years If after two years personal income returns are more than 2 over the estimation return the amount over the forecast to tax payers ID: 487243
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Slide1
Oregon’s “Kicker”Slide2
Kicker Tax Rebate: How it Works
Every two years, forecast personal income and corporate tax returns for the coming two years
If after two
years
personal income returns are more than 2% over the estimation, return the amount over the forecast to tax payers
If corporate tax returns are more than 2% over, the amount over goes specifically to K-12 educationSlide3
History
Approved by voters in 1980: part of Prop 13 anti-tax
wave
2000: voters place kicker in Oregon
Constitution
2012: Measure 85
Personal
Corporate
Biennium
Surplus/Shortfall ($ million)
Credit/Refund (% of liability)
Surplus/Shortfall ($ million)
Credit/Refund (% of liability)
1983-85
89
7.70%
13
10.60%
1985-87
221
16.60%
7
6.20%
1987-89
175
9.80%
36
19.70%
1993-95
163
6.30%
167
50.10%
1995-97
432
14.40%
203
42.20%
1997-99
167
4.60%
-69
None
1999-01
254
6.00%
-44
None
2003-05
-401
None
101
35.90%
2005-07
1,071
18.60%
-131
None*Slide4
Obstacles to Reform
Political
popularity (perceived and real)
Constitutional
amendment processSlide5
Crafting a Proposal
Balancing between:
Stability and predictability of state funds
Political viabilitySlide6
Questions?