Kicker theft bill hearing Monday

By Taxpayers Association of Oregon
OregonWatchdog.com

Kicker Theft House Bill 4125 is up for a hearing on the first day of Session Monday Feb 2nd in the House Revenue Committee (more here).

This bill changes the economic formula for how the Kicker tax Refund kicks and therefore can be manipulated to produce fewer returns to taxpayers. The bill creates a fund for the money to go into which includes “Reduction of the unfunded actuarial liability of the Public Employees Retirement System. (section 5a)” So it appears that the politicians wish to use budget gimmicks to rob future Kicker refunds in order to bail out the $24 billion government pension system.

Bill language, “Digest: The Act adds detail for methods of making estimates of how much tax money comes into the General Fund. (Flesch Readability Score: 61.6). Prescribes methodology for the preparation of revenue estimates used in the budgeting process and as applicable to the surplus revenue refund process. Applies to estimates prepared on or after January 1, 2027. Requires the Department of Revenue to estimate the difference in surplus revenue calculations using stated methodologies, and transfer an amount equal to the difference for use for various purposes. Establishes the One-Time Emergencies and Finance Fund. Takes effect on the 91st day following adjournment sine die.”