Relating to an income tax subtraction allowed for plaintiffs in wildfire litigation; prescribing an effective date.

Creates Oregon corporate excise and income tax subtractions for amounts received in resolution of a civil action arising from wildfire. Creates Oregon corporate excise and income tax subtractions for wildfire-related legal fees paid by plaintiffs. Allows a taxpayer to amend a return to claim a refund for the earliest tax year in which a subtraction is allowed.