OAR 150-316-0608
First-time Home Buyer Savings Account – Cost-of-Living Adjustment
# (1)
(1) For tax years beginning after December 31, 2023, for each calendar year, the subtraction limits in ORS 316.800(1) will be adjusted by multiplying each limit amount by a cost-of-living adjustment for the calendar year.
# (2)
(2) For purposes of this rule, the cost-of-living adjustment for any calendar year is the percentage, if any, by which the monthly averaged U.S. City Average Consumer Price Index for the 12 consecutive months ending August 31 of the prior calendar year exceeds the monthly averaged index for the 12 consecutive months ending August 31, 2019.
# (3)
(3) As used in this rule, "U.S. City Average Consumer Price Index" means the U.S. City Average Consumer Price Index for All Urban Consumers (All Items) as published by the Bureau of Labor Statistics of the United States Department of Labor.
# (4)
(4) If any resulting increase is not a multiple of $5, the increase will be rounded to the next highest multiple of $5.
Amendment history
REV 46-2024, adopt filed 10/02/2024, effective 10/02/2024
Source: view the official text
In this chapter (40 sections)
- 150-316-0495 · Estimated Tax: Joint Return to Single or Separate Return
- 150-316-0497 · Estimated Tax: Single or Separate Returns to Joint Return
- 150-316-0505 · Oregon Lottery Winnings and Losses
- 150-316-0507 · Modification of Federal Taxable Income: Interest and…
- 150-316-0509 · U.S. Government Obligations
- 150-316-0511 · Addition for Original Issue Discount (OID)
- 150-316-0513 · Modification of Federal Taxable Income: Adding Interest…
- 150-316-0515 · Modification of Federal Taxable Income: Adding Federal…
- 150-316-0519 · Gain or Loss Upon the Sale of State and Municipal Bonds…
- 150-316-0525 · U.S. Government Interest in Retirement Accounts
- 150-316-0530 · Pool of Assets that Qualify to Pay State Exempt-Interest…
- 150-316-0535 · Federal Tax Deduction: Accrual Method of Accounting…
- 150-316-0537 · Adjustment of Federal Tax Liability
- 150-316-0545 · Election to Include Child’s Unearned Income — Addition…
- 150-316-0550 · Special Oregon Medical Subtraction
- 150-316-0555 · Modification of Federal Taxable Income: Itemized vs.…
- 150-316-0557 · Modification of Federal Taxable Income: Oregon Income…
- 150-316-0559 · Modification of Federal Taxable Income: Previously Taxed…
- 150-316-0565 · Basis of Depreciable Assets Moved into Oregon
- 150-316-0567 · Property Subject to Accelerated Cost Recovery System
- 150-316-0569 · Adjustment to Income for Basis Differences
- 150-316-0575 · Amount Specially Taxed Under Federal Law to Be Included…
- 150-316-0580 · Definition for Severely Disabled Exemption
- 150-316-0585 · Exemption for Blind and Severely Disabled
- 150-316-0590 · Substantiation for Permanently Severely Disabled
- 150-316-0595 · Exempt Income of Native Americans
- 150-316-0600 · Oregon Investment Advantage Apportionable Income…
- 150-316-0605 · Military Pay Subtraction
- 150-316-0607 · First-time Home Buyer Savings Account
- 150-316-0608 · First-time Home Buyer Savings Account – Cost-of-Living…
- 150-316-0610 · Road Construction Worker’s Travel Expenses
- 150-316-0615 · Substantiation Required for Construction Worker and…
- 150-316-0625 · (Miscellaneous) Valuation of Forest Land or “Farm Use”…
- 150-316-0630 · Scholarship Awards used for Housing Expenses
- 150-316-0635 · Subtraction for Land Contributed to Educational…
- 150-316-0650 · Waiver of Frivolous Return Penalty Imposed Under ORS…
- 150-316-0652 · Frivolous Return Penalty
- 150-316-0662 · Voluntary Self-Identification of Race and Ethnicity: Use…
- 150-316-0663 · Voluntary Self-Identification of Race and Ethnicity;…
- 150-316-0664 · Voluntary Self-Identification of Race and Ethnicity;…