(1) Not less than once each calendar year, the Public Employees Retirement Board shall provide to the Department of Revenue information identifying persons to whom payments have been made under this chapter. The Department of Revenue shall provide to the board such information on Oregon personal income tax returns as the board deems necessary to determine whether the payments made to the person under this chapter are subject to Oregon personal income tax under ORS § 316.127 (9).

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(2) If the board determines that the payments made to a person under this chapter are not subject to Oregon personal income tax under ORS § 316.127 (9) based on information provided by the Department of Revenue under this section, and the person is receiving the increased benefit provided by chapter 796, Oregon Laws 1991, or chapter 569, Oregon Laws 1995, the board shall reduce the benefits payable to the person as provided in ORS § 238.376 (1).

(3) If the board determines that the payments made to a person under this chapter are subject to Oregon personal income tax under ORS § 316.127 (9) based on information provided by the Department of Revenue under this section, and the person is not receiving the increased benefit provided by chapter 796, Oregon Laws 1991, or chapter 569, Oregon Laws 1995, the board shall increase the benefits payable to the person as provided in ORS § 238.374 (3) or 238.376 (3). [2011 c.653 § 5; 2013 c.53 § 14]

[1995 c.569 § 3; 1997 c.175 § 5; 2001 c.945 § 54; 2003 c.67 § 30; 2009 c.868 § 1; renumbered 238.364 in 2011]