Relating to tax treatment of net losses; prescribing an effective date.

Removes the 15-year limitation on the carryforward of net operating losses by corporate excise taxpayers. Limits the net operation loss deduction to 95 percent of taxable income in a tax year. Applies to the determination of Oregon taxable income for all tax years beginning on or after January 1, 2026, and to net losses arising in tax years beginning on or after January 1, 2010.