Bills Set to Become Law
Thirteen new laws will go into effect on January first. Senate Bill 82 requires insurance companies to explain, using property specific characteristics, why a policy might not be getting renewed or why a rate is going up. It also will reflect in rating and underwriting plan how an insurer addresses or considers wildfire risk mitigation actions. Senate Bill 192 considers the cost of prescriptions and how the Oregon Prescription Drug Affordability Board will develop a plan for limits to costs for prescription drugs in the state. There are several other health related bills that also go into effect. HB 2052 will require data brokers to register with the state before collecting, selling or licensing brokered personal data.
Oregon Tax Kicker
When filing your taxes for 2023 you will be eligible for a part of the 5.6 billion dollar kicker tax credit. If you also filed in 2022. The Oregon Department of Revenue has an information page for Oregon taxpayers to view their information to make sure it is without discrepancies. Revenueonline.dor.oregon/tap will allow you to view information and calculate your portion of the tax kicker. You can also find important forms there. Electronic filing is closed until late January.
Gas Prices
The price of a gallon of regular gas has begun to rise after weeks of drops around the country and in Oregon. Prices dropped another 6 cents a gallon over the past two weeks with a 2 cent drop last week. Oregonians on average are paying $3.80 for a gallon of regular gas. AAA Oregon is signaling that the cuts in prices may be coming to an end as the national average climbed last week. The price for a gallon of regular gas is lower in Florence. Prices are averaging around $3.13 a gallon here on the coast.