Relating to an income tax subtraction for amounts received in wildfire litigation; prescribing an effective date.

Digest: Exempts awards from and legal fees paid in wildfire suits from income tax. (Flesch Readability Score: 76.5). \tDigest: Exempts award from wildfire suit from income tax. (Flesch Readability Score: 71.8).] \tCreates Oregon tax subtraction for amounts received in resolution of a civil action arising from wildfire. Creates an Oregon tax subtraction for wildfire-related legal fees paid by plaintiffs. Allows taxpayer to amend return to claim refund for earliest tax year in which subtraction is allowed. \tApplies to declarations and executive orders issued on or after January 1, [2020] 2018, and before January 1, 2026, and to amounts received, losses incurred and legal fees paid in tax…