b'2024 State Report OFA nearbyBallot Measure 118 continuedBend,The campaign to defeat Ballot Measure 118 (BM 118) isOregon.underway, with the opposition reporting over $6 million in Membersdonations. In case you havent been following, BM 118 would and theirestablish a new corporate minimum tax on Oregon sales above families$25 million. The tax is essentially a 3% gross receipts tax and is could estimated to raise $6.8 billion per year in new taxes. The catch is participate in our party by the pool,that the measure proposes to give that money back to Oregonians trap shooting, or the ever-popular in the form of a dividend. Projections estimate that everygolf tournament. Oregonian, of any age, would receive approximately $1,600On our final evening, weper year, a tempting check for some voters. had an honors dinner for OFA is helping spearhead industry opposition to this flawedLee Powell and his longtax proposal. In addition to OFA and other business groups, history of service in theGovernor Kotek, democrat and republican legislative leadership, fuel industry. Many ofand public employee unions are lining up in opposition to this his family members weremeasure. To learn more about the opposition campaign, go to:able to be in attendancehttps://noonmeasure118.com/with him.Comment Period Extension for theNow, for some Climate Protection Program The Oregon DEQ has extended the Climate Protection Program Legislative News from (CPP) comment deadline by 28 days. As a result of this action, the deadline for comments was extended from Aug. 30, 2024, to Danelle Romain and Sept. 27, 2024, at 4 p.m. DEQ will only consider comments on the proposed rules received by 4 p.m. on Sept. 27, 2024. You can Mike Freese . find more information about the proposed rule and materials at https://www.oregon.gov/deq/rulemaking/Pages/CPP2024.aspx. This has been one of the busiest sum- In the meantime, OFA has been meeting with DEQ, the Gover-mers in memory between agencynors office staff, Environmental Quality Commission members, rulemakings, legislative taskforce andand coalition partners on ways to improve the rule and exploring committee meetings, and meetings withpotential legislative strategies. legislators and candidates.Underground Storage Tank (UST) RulemakingDanelle Romain August Revenue ForecastLast week, we participated in the first rules advisory committee & Mike FreeseThe House and Senate Revenue Com- (RAC) that is considering new rules for UST contractors. Based mittees heard the August Revenueon the initial meeting, DEQ is looking at new requirements for forecast. The Revenue Forecast is important because it updatesUST installation and testing contractors that could impact the cost policymakers on projected revenue surplus (or shortfall) and isand availability of contractors in Oregon. OFA will continue to a good indicator of whether the legislature will likely take upengage in this rulemaking and we encourage anyone interested in tax increases in the next legislative session. Overall, Oregonsthis to follow the rulemaking process at https://www.oregon.gov/economy is beating earlier estimates by over $670 million sincedeq/rulemaking/Pages/ust2025.aspx.the first quarter estimates, and General Fund gross revenue is upWishing you all a beautiful fall season and looking forward to $1,891.5 million since the close of the 2023 legislative session.seeing you Wednesday, December 11, 2024 at the Portland Golf But economists noted potential headwinds with a possible rise inClub for our annual Holiday Party.unemployment, slow population growth, and an aging workforce.Warmest Regards,The next Revenue Forecast will be November 20th.Krista Fenton, Executive Director, Oregon Fuels AssociationSave the Dates! Holiday Party in Portland December 11, 2024 and SWPMA News / Fall 202443'