facts
Keep the green in Oregon
These are the facts
- Less than 14 percent of the 2007 corporate kicker tax credit’s value would have gone to companies operating only in Oregon.
- Out of the 34,000 Oregon C-Corporations, the top 889 C-Corps receive 90 percent or more of Corporate Kicker refund money. Many of these companies send their profits outside of Oregon, and often outside of the USA.
- 41 percent of the corporate kicker will go to 27 companies with annual profits of more than $25 million.
Full Text of the Petition
View document as PDFBE IT ENACTED BY THE PEOPLE OF THE STATE OF OREGON:
Article IX, Section 14 of the Constitution of the State of Oregon is hereby amended to eliminate the so-called corporate kicker and to retain the personal income kicker by deleting the bracketed language and adding the underlined language as follows:
Section 14. Revenue estimate; return of excess revenue to taxpayers; legislative increase in estimate. (1) As soon as is practicable after adjournment sine die of a regular session of the Legislative Assembly, the Governor shall cause an estimate to be prepared of revenues that will be received by the General Fund for the biennium beginning July 1. The estimated revenues from corporate income and excise taxes shall be separately stated from the estimated revenues from other General Fund sources.
