SALEM, Ore. — Oregon legislators say they will not raise taxes on Nike’s out of state revenue for the next 5 years as part of an effort to encourage the company to expand within the state.
The proposal was passed at last Friday’s special session of the state legislature called by Governor John Kitzhaber. House Bill 4200, also dubbed the “Nike Bill”, passed overwhelmingly, however even some lawmakers who voted in favor of it think it should be expanded.
“The problem was, it was just for Nike. Why wouldn’t we say to smaller companies, if you’ll make a substantial investment and hire new people, we will allows give you that guarantee that we won’t tax you on income earned outside of Oregon,” stated Rep. Dennis Richardson.
Representative Richardson believes more legislative will be introduced during the 2013 session that would expand the plan to more companies.