Cultural Tax Credit Renewed by Oregon Legislature

Yesterday, the Oregon Legislature gave a vote of confidence to the Oregon Cultural Trust when the House and Senate passed HB 3367, renewing Oregon‘s innovative cultural tax credit unchanged until 2020.

The limits of the cultural tax credit, the chief funding mechanism for the Cultural Trust, will continue as established: donors to the over 1,300 arts, heritage and humanities in Oregon may continue to make a matching gift to the Trust and be eligible for a 100 percent credit, up to $500 for an individual, $1,000 for a couples filing jointly and $2,500 for a Class-C corporation.

According to Christine D’Arcy, executive director of the Oregon Arts Commission – Oregon Cultural Trust, this means the Cultural Trust, with your partnership, will continue to build the permanent fund for culture in Oregon, which now stands at over $18 million – and invest in important cultural programs that fuel Oregon‘s economy, inspire Oregon‘s children and enrich Oregon‘s quality of life.

D’Arcy in a memo thanked everyone who communicated the value of culture in Oregon with elected officials – and described how important to the Cultural Trust is to every region of Oregon. “Thank you to the Cultural Advocacy Coalition for training advocates and coordinating advocacy efforts in Salem. Without their concerted efforts, this renewal would have been more challenging.

“And, most important, thank you to the Oregon legislature for its renewal of the cultural tax credit for six years, the longest period available under current rules.

“Now, we move forward, with you, donors to the Oregon Cultural Trust, in developing and sustaining the arts, heritage and humanities in our great state!”