Prohibits employers from permitting or requiring agricultural workers to work in excess of maximum allowable hours unless workers are compensated for overtime hours worked. Specifies exemptions to overtime compensation requirements. Requires Employment Department, in consultation with Bureau of Labor and Industries, Department of Revenue and State Department of Agriculture, to submit report to interim committees of Legislative Assembly related to agriculture on identified economic impacts of overtime compensation requirements under Act. Requires division of Oregon Department of Administrative Services that serves as office of economic analysis to include in economic forecast for biennium any available relevant economic and wage data related to agricultural economy as impacted by overtime compensation requirements. Requires State Department of Agriculture and Oregon Business Development Department to make recommendations for legislation to regular or interim committee of Legislative Assembly related to agriculture on available options for establishing grant, loan or other lending program to provide financial assistance to employers to mitigate costs associated with compliance with overtime compensation requirements. Creates refundable income or corporate excise tax credit allowed to employer for excess amount of wages paid as overtime pay to agricultural workers. Provides for administration of credit by Department of Revenue. Directs department to issue notice to taxpayers that meet application requirements and indicate maximum amount of credit allowed. Provides for Legislative Assembly to use reports submitted by agencies to adjust tax credit provisions and revise rates if deemed appropriate. Applies to tax years beginning on or after January 1, 2023 , and before January 1, 2029]. Takes effect on 91st day following adjournment sine die.