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---
type: "Bill"
title: "Relating to tax credits for small forestland owners; and prescribing an effective date."
description: "Creates income or corporate excise tax credit allowed to small forestland owner that elects to observe riparian timber harvest restriction applicable to large forestland owner, in lieu of using harvest option available to small forestland owner.<b> Includes no-harvest dry channel portion of small nonfish perennial stream in forest conservation area eligible for tax credit. Prohibits transfer of credit to successor forestland owner.</b> Provides for allowance of credit and retention of harvest restrictions for 50 years."
jurisdiction: "us/states/or"
legislature: "Oregon Legislative Assembly"
session: "2022R1"
identifier: "SB 1502"
citation: "Oregon SB 1502 (2022R1)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Peter Courtney"]
version_count: 5
action_count: 24
vote_count: 5
first_action: "2022-02-01T15:05:58+00:00"
last_action: "2022-04-01T17:10:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/4a71c17f-52ca-4291-96a4-4d530d6570a1"
source_url: "https://olis.oregonlegislature.gov/liz/2022R1/Measures/Overview/SB1502"
source_hash: "cf98b6df345f55e8ec99f554456d74c0b61a32d4db9915042bb2e23b5da90242"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-or"]
---
# Oregon SB 1502 (2022R1) — Relating to tax credits for small forestland owners; and prescribing an effective date.
Creates income or corporate excise tax credit allowed to small forestland owner that elects to observe riparian timber harvest restriction applicable to large forestland owner, in lieu of using harvest option available to small forestland owner.<b> Includes no-harvest dry channel portion of small nonfish perennial stream in forest conservation area eligible for tax credit. Prohibits transfer of credit to successor forestland owner.</b> Provides for allowance of credit and retention of harvest restrictions for 50 years.
## Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
1. **Introduced** (filed) — [source](https://olis.oregonlegislature.gov/liz/2022R1/Downloads/MeasureDocument/SB1502/Introduced)
2. **Senate Amendments to Introduced** (filed) — [source](https://olis.oregonlegislature.gov/liz/2022R1/Downloads/MeasureDocument/SB1502/Senate%20Amendments%20to%20Introduced)
3. **A-Engrossed** (committee substitute) — [source](https://olis.oregonlegislature.gov/liz/2022R1/Downloads/MeasureDocument/SB1502/A-Engrossed)
4. **SFR Amendment -5** (committee substitute) — [source](https://olis.oregonlegislature.gov/liz/2022R1/Downloads/ProposedAmendment/22288)
5. **Enrolled** (enrolled) — [source](https://olis.oregonlegislature.gov/liz/2022R1/Downloads/MeasureDocument/SB1502/Enrolled)
## Votes
- Heard and Reported Out with Amendments — **50** (pass) · upper
- Heard and Reported Out — **40** (pass) · upper
- Third reading. Carried by Armitage. Passed. — **250** (pass) · upper
- Third reading. Carried by Marsh. Passed. — **570** (pass) · lower
- Heard and Reported Out — **70** (pass) · lower
## Sponsors
- Peter Courtney — primary (person)
- Rob Nosse — cosponsor (person)
## Timeline
The legislative action history — every referral, reading, and vote.
- **2022-02-01T15:05:58+00:00** Introduction and first reading. Referred to President's desk. `introduction, reading-1, referral-committee`
- **2022-02-01T16:27:56+00:00** Referred to Natural Resources and Wildfire Recovery, then Finance and Revenue. `referral-committee`
- **2022-02-01T21:01:00+00:00** Informational Meeting held.
- **2022-02-03T21:01:00+00:00** Public Hearing held.
- **2022-02-08T21:02:00+00:00** Work Session held.
- **2022-02-09T22:20:23+00:00** Recommendation: Do pass and be referred to Finance and Revenue by prior reference.
- **2022-02-09T22:20:24+00:00** Referred to Finance and Revenue by prior reference. `referral-committee`
- **2022-02-16T16:01:00+00:00** Public Hearing held.
- **2022-02-23T16:02:00+00:00** Work Session held.
- **2022-02-24T17:37:07+00:00** Recommendation: Do pass with amendments. (Printed A-Eng.) `committee-passage-favorable`
- **2022-02-25T18:19:22+00:00** Second reading. `reading-2`
- **2022-02-28T17:44:46+00:00** Third reading. Carried by Armitage. Passed. `passage, reading-3`
- **2022-02-28T23:19:59+00:00** First reading. Referred to Speaker's desk. `introduction, reading-1, referral-committee`
- **2022-03-01T00:46:12+00:00** Referred to Revenue. `referral-committee`
- **2022-03-02T02:01:00+00:00** Public Hearing held.
- **2022-03-02T20:02:00+00:00** Work Session held.
- **2022-03-02T22:10:19+00:00** Recommendation: Do pass. `committee-passage-favorable`
- **2022-03-03T01:34:01+00:00** Second reading. `reading-2`
- **2022-03-03T21:23:38+00:00** Third reading. Carried by Marsh. Passed. `passage, reading-3`
- **2022-03-04T22:12:42+00:00** President signed. `passage`
- **2022-03-08T19:50:55+00:00** Speaker signed. `passage`
- **2022-03-17T16:43:00+00:00** Governor signed. `executive-signature`
- **2022-04-01T17:03:00+00:00** Chapter 34, 2022 Laws.
- **2022-04-01T17:10:00+00:00** Effective date, June 3, 2022.
## Source
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/4a71c17f-52ca-4291-96a4-4d530d6570a1`. Confidence: reported (aggregated from official Oregon legislature records).