Sale or Leasing of Exempt Property
For purposes of ORS 285C.175 (Enterprise zone exemption)(2)(b), a qualified business firm may sell or lease qualified property, and the exemption that is about to begin or is ongoing may continue for the remainder of its normal period. This rule depends on all of the following, otherwise the exemption is subject to denial or to disqualification for an event under ORS 285C.240 (Disqualification)(1)(a) or (e) with repayment of back taxes, as applicable:
The qualified property was located at the site identified in the Application (as potentially amended) when it first qualified, and it continues to be eligibly used inside the enterprise zone.
The purchaser or lessee is an eligible business firm.