Oregon HB4136 ends the tax deduction for mortgage interest on a second home, except if sold or marketed for sale.
Oregon HB4136 amends the tax treatment of mortgage interest by disallowing deductions for residences other than the taxpayer's principal residence, unless the residence is sold or actively marketed for sale. The bill establishes the Oregon Homeownership Opportunity Account to receive revenue from the changes in tax deductions. The amendments apply to tax years beginning on or after January 1, 2026, and take effect 91 days after the legislative session adjourns.
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