Section 316.847 - National service educational award(1) There shall be subtracted from federal taxable income amounts received as a national service educational award under 42 U.S.C. 12602, following completion of the required term of service in 42 U.S.C. 12593(b).(2) A subtraction may not be allowed under this section if the amounts described in subsection (1) of this section: (a) Are not included in the taxpayer's federal gross income for the tax year; or(b) Are taken into account as a deduction on the taxpayer's federal income tax return for the tax year. Section 37, chapter 525, Oregon Laws 2021, provides:
Sec. 37. Section 36 of this 2021 Act [316.847] applies to amounts received in tax years beginning on or after January 1, 2021, and before January 1, 2027. [2021 c. 525, § 37]