(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 taxpayers federal gross income for the tax year; or (b) Are taken into account as a deduction on the taxpayers federal income tax return for the tax year. Note: 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.
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