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Post by hottubbeaver on Oct 12, 2023 10:47:42 GMT -8
Oregon lawmakers could take a very simple step which does not require allocating new budget dollars to OSU and solve the revenue problem created in large part by the Board of our sister state institution failing to meet their fiduciary board duties to the state.
$2,000 for 2023
Here's how it would work, any Oregon income tax payor who gives $2,000 for the 2023 tax year to the Student Athlete Stability Fund (OSU AD) receives a Tax Credit of $2,000. Not a deduction, but a Tax Credit. So for example lets say you owed $10,000 in state income tax. You send a check for $2,000 to the fund, administered by the OSU AD, prior to 4/15/24 you get to subtract $2,000 from you tax liability and only owe $8,000.
Look at the math: If only 25,000 Oregon taxpayers opted to do this, the OSU AD fund would received $50,000,000 in revenue.
I would suggest an initial 7 year period for this tax credit, equaling the period of time our sister institution's contract is.
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Post by drunkandstoopidbeav on Oct 12, 2023 10:59:24 GMT -8
I would think the only "fair" way to institute that would be to make it a single fund available to all State schools and distribute it by some mix of school student count and number of scholarship athletes at those schools.
At that point OSU would get a good share of the proceeds while having deniability of being "favored".
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Post by rgeorge on Oct 12, 2023 11:03:16 GMT -8
Oregon lawmakers could take a very simple step which does not require allocating new budget dollars to OSU and solve the revenue problem created in large part by the Board of our sister state institution failing to meet their fiduciary board duties to the state. $2,000 for 2023 Here's how it would work, any Oregon income tax payor who gives $2,000 for the 2023 tax year to the Student Athlete Stability Fund (OSU AD) receives a Tax Credit of $2,000. Not a deduction, but a Tax Credit. So for example lets say you owed $10,000 in state income tax. You send a check for $2,000 to the fund, administered by the OSU AD, prior to 4/15/24 you get to subtract $2,000 from you tax liability and only owe $8,000. Look at the math: If only 25,000 Oregon taxpayers opted to do this, the OSU AD fund would received $50,000,000 in revenue. I would suggest an initial 7 year period for this tax credit, equaling the period of time our sister institution's contract is. It's Oregon... do you think in any way a legislative body in this state would be this creative if it doesn't involve more $$ for them to spend on pet projects? Add, that in now way would they leave it at just a fund for OSU. There are too many uck grads or affiliations (and PSU as it too struggles to keep a decent AD budget) to allow it to be a stand alone credit. In this state any similar idea would likely be a tax credit paid into a fund where the legislature controls and decides how and when to spend the money. Seems to be how they work. |
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Post by atownbeaver on Oct 12, 2023 11:04:29 GMT -8
Oregon lawmakers could take a very simple step which does not require allocating new budget dollars to OSU and solve the revenue problem created in large part by the Board of our sister state institution failing to meet their fiduciary board duties to the state. $2,000 for 2023 Here's how it would work, any Oregon income tax payor who gives $2,000 for the 2023 tax year to the Student Athlete Stability Fund (OSU AD) receives a Tax Credit of $2,000. Not a deduction, but a Tax Credit. So for example lets say you owed $10,000 in state income tax. You send a check for $2,000 to the fund, administered by the OSU AD, prior to 4/15/24 you get to subtract $2,000 from you tax liability and only owe $8,000. Look at the math: If only 25,000 Oregon taxpayers opted to do this, the OSU AD fund would received $50,000,000 in revenue. I would suggest an initial 7 year period for this tax credit, equaling the period of time our sister institution's contract is. I don't have time to really look into it, but off the cuff it would still be considered an appropriation, still need to go through the budget process, Ways and Means and be voted on. It isn't a thing that can just be enacted. Issuing a tax credit is functionally the same thing as spending general funds, because it is a one for one reduction in tax revenue. you are just doing it at another place in the process. The only advantage to this system, is it creates the optics of choice. You are choosing to spend your tax dollars on OSU. But it is a false choice, a reduction of the general funds is a reduction no matter how you slice it, or what mechanism you choose to use it. If 25,000 taxpayers opted for this, Oregon's general fund is decreased by $50M. Ultimately how is this any different than just appropriating OSU $50M? It isn't, except for the aforementioned optics of choice. Another downside is you'd have to cap it. There isn't any way to really predict how many people would donate, what if 50,000 donated? $100M hit to revenue is a big hit, even in Oregon's $113 billion total budget. So again, if you set a cap (i.e, up to $50M) you are still back at essentially making a more inefficient system of getting money to OSU, and one in which OSU assumes all the risk. (what if only 1,000 donate?) I think if OSU is looking for a bailout, the path they are on is the best one. Try to get COVID debt relief, try to get a $10M budget boost for student athlete opportunities. |
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Post by hottubbeaver on Oct 12, 2023 11:38:28 GMT -8
I would think the only "fair" way to institute that would be to make it a single fund available to all State schools and distribute it by some mix of school student count and number of scholarship athletes at those schools. At that point OSU would get a good share of the proceeds while having deniability of being "favored". As of right now, only one state institution's future revenue was severely damaged by the actions of a sister institution. The term Flagship University is kind of a snotty "unofficial" term, however the definition applies to OSU not UO. Largest enrollment (check), usually the oldest (check), and most publicly funded (check). The extraordinary negative economic impact to the university, athletic department, city of Corvallis, county, conference of champions, and state of Oregon, directly caused by the actions of another state institution, calls for an extraordinary remedy. |
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Post by sparty on Oct 12, 2023 11:55:04 GMT -8
Oregon lawmakers could take a very simple step which does not require allocating new budget dollars to OSU and solve the revenue problem created in large part by the Board of our sister state institution failing to meet their fiduciary board duties to the state. $2,000 for 2023 Here's how it would work, any Oregon income tax payor who gives $2,000 for the 2023 tax year to the Student Athlete Stability Fund (OSU AD) receives a Tax Credit of $2,000. Not a deduction, but a Tax Credit. So for example lets say you owed $10,000 in state income tax. You send a check for $2,000 to the fund, administered by the OSU AD, prior to 4/15/24 you get to subtract $2,000 from you tax liability and only owe $8,000. Look at the math: If only 25,000 Oregon taxpayers opted to do this, the OSU AD fund would received $50,000,000 in revenue. I would suggest an initial 7 year period for this tax credit, equaling the period of time our sister institution's contract is. It's Oregon... do you think in any way a legislative body in this state would be this creative if it doesn't involve more $$ for them to spend on pet projects? Add, that in now way would they leave it at just a fund for OSU. There are too many uck grads or affiliations (and PSU as it too struggles to keep a decent AD budget) to allow it to be a stand alone credit. In this state any similar idea would likely be a tax credit paid into a fund where the legislature controls and decides how and when to spend the money. Seems to be how they work. The community colleges are hurting in the state too so I would expand it to them too. You could use this concept to fund alot of projects in the state. Low income housing is another example as well as local school districts that need extra funding for sports. Send in the donation and take it right off your taxes that way you get to control where you want it spent. Why hasn't this been thought of years ago? |
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Post by drunkandstoopidbeav on Oct 12, 2023 11:59:39 GMT -8
I would think the only "fair" way to institute that would be to make it a single fund available to all State schools and distribute it by some mix of school student count and number of scholarship athletes at those schools. At that point OSU would get a good share of the proceeds while having deniability of being "favored". As of right now, only one state institution's future revenue was severely damaged by the actions of a sister institution. The term Flagship University is kind of a snotty "unofficial" term, however the definition applies to OSU not UO. Largest enrollment (check), usually the oldest (check), and most publicly funded (check). The extraordinary negative economic impact to the university, athletic department, city of Corvallis, county, conference of champions, and state of Oregon, directly caused by the actions of another state institution, calls for an extraordinary remedy. OSU may have been caused great harm by recent events, but I do not see the legislature stepping in and "favoring" one school. Bad optics. |
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Post by hottubbeaver on Oct 12, 2023 12:14:41 GMT -8
As of right now, only one state institution's future revenue was severely damaged by the actions of a sister institution. The term Flagship University is kind of a snotty "unofficial" term, however the definition applies to OSU not UO. Largest enrollment (check), usually the oldest (check), and most publicly funded (check). The extraordinary negative economic impact to the university, athletic department, city of Corvallis, county, conference of champions, and state of Oregon, directly caused by the actions of another state institution, calls for an extraordinary remedy. OSU may have been caused great harm by recent events, but I do not see the legislature stepping in and "favoring" one school. Bad optics. The state showed no such unwillingness to discriminate during covid. The absolutely favored shutting down some private businesses while allowing others to stay open. I don't want to get into that here, my point is only that during times of "unprecedented" circumstances they've demonstrated they have no problem with favoritism, which I would argue is not the case here anyhow. The favoritism part that is. The unprecedented part is indeed the case and I argue they would simply be addressing a direct damage to one state institution caused at the hands of another. |
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Post by rgeorge on Oct 12, 2023 12:34:28 GMT -8
It's Oregon... do you think in any way a legislative body in this state would be this creative if it doesn't involve more $$ for them to spend on pet projects? Add, that in now way would they leave it at just a fund for OSU. There are too many uck grads or affiliations (and PSU as it too struggles to keep a decent AD budget) to allow it to be a stand alone credit. In this state any similar idea would likely be a tax credit paid into a fund where the legislature controls and decides how and when to spend the money. Seems to be how they work. The community colleges are hurting in the state too so I would expand it to them too. You could use this concept to fund alot of projects in the state. Low income housing is another example as well as local school districts that need extra funding for sports. Send in the donation and take it right off your taxes that way you get to control where you want it spent. Why hasn't this been thought of years ago? Well as with all the well intended policies... start with the lottery... the amount of dollars stated never end up where they are initially supposed to. I trust no legislative body to come up with, and follow thru honestly with any monetary plan that is supposedly a boon to schools. This state has a terrible history of funds being funneled off with some loophole(s). It is a great idea in theory. But, I'd rather the legislation allowed a direct donation to a college with a electronic "receipt" for the tax credit and not going thru the state "middlemen". Other political $ issues are another entire website full of conversation. And, simple put the State, County, City governments waste so much I would not make any such donation for a tax credit run thru them. But, that's me... |
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Post by osbrawler on Oct 12, 2023 13:09:15 GMT -8
I like it but the legislature already have steam coming out their ears because they can't claw back the kicker due to the citizens already. Would they go for this plan also?
To figure your portion: Multiply your 2022 tax liability before any credits, found on line 22 on the 2022 OR-40 form, by 44.28 percent to calculate your portion of the Oregon kicker
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Post by sparty on Oct 13, 2023 5:53:02 GMT -8
The community colleges are hurting in the state too so I would expand it to them too. You could use this concept to fund alot of projects in the state. Low income housing is another example as well as local school districts that need extra funding for sports. Send in the donation and take it right off your taxes that way you get to control where you want it spent. Why hasn't this been thought of years ago? Well as with all the well intended policies... start with the lottery... the amount of dollars stated never end up where they are initially supposed to. I trust no legislative body to come up with, and follow thru honestly with any monetary plan that is supposedly a boon to schools. This state has a terrible history of funds being funneled off with some loophole(s). It is a great idea in theory. But, I'd rather the legislation allowed a direct donation to a college with a electronic "receipt" for the tax credit and not going thru the state "middlemen". Other political $ issues are another entire website full of conversation. And, simple put the State, County, City governments waste so much I would not make any such donation for a tax credit run thru them. But, that's me... Was original lottery money just for state parks or state parks and education? where is it now going today. Agree with your response and also ideas start out good and then it usually goes south. |
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Post by bennyskid on Oct 13, 2023 6:12:44 GMT -8
I believe that the lottery now goes primarily to education . . . for what it's worth.
I had a friend who was high up in the State Parks dept. when the voters decided to set aside lottery funds for parks. The department didn't see a single dime from it. The legislature simply reduced the general fund allocation to parks by exactly the same amount of money.
Don't think for a moment that they wouldn't do the same to OSU. If we, the voters, passed a measure to put the lottery money to OSU sports, I absolutely guarantee you that the legislature would just reduce other funding to OSU dollar-for-dollar. Just like they did to the parks department.
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Post by drunkandstoopidbeav on Oct 13, 2023 11:58:47 GMT -8
I thought they passed lottery sports scratch-offs or betting on NFL games (since there were no NFL teams here), some sorts of sport related lottery funding anyways, back in the 90's? I know it was hotly contested when the idea came up, but I thought it finally got through.
That was shortly before I moved to Hawaii and stopped regularly following Oregon news. It must've been killed? It could have been right when I was leaving.
Note: I just tried googling it and found a pdf from june 19, 2009 saying the state legislature approved increasing the Sports Action lottery money to the schools. Now I'm really wondering?
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Post by atownbeaver on Oct 14, 2023 10:06:50 GMT -8
I thought they passed lottery sports scratch-offs or betting on NFL games (since there were no NFL teams here), some sorts of sport related lottery funding anyways, back in the 90's? I know it was hotly contested when the idea came up, but I thought it finally got through. That was shortly before I moved to Hawaii and stopped regularly following Oregon news. It must've been killed? It could have been right when I was leaving. Note: I just tried googling it and found a pdf from june 19, 2009 saying the state legislature approved increasing the Sports Action lottery money to the schools. Now I'm really wondering? There has been a lot of recent changes, but sports betting in Oregon is extremely complicated due to our relationship with our Tribes. You can legally bet on a mobile device for professional games using Draftkings. The only legal way to bet on college sports in Oregon is at a tribal casino and their sports books. This is a big hit to general fund revenues, but likewise a massive part of tribal revenue. Oregon underperforms other states with legal gambling by about a factor of 6x. in 2022 our entire revenue from mobile betting (we get 50% of the revenue Draftkings collects in Oregon) was $31.8 million. That is pennies in the gambling world. The reason is largely due the the monopoly we generally grant the Tribal casinos to run sports books. Long story short, there is no current massive pot of money in the lotter from betting. All the lottery money is still traditional lottery games. |
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