The local zone manager received the Application before the effective date of the zone’s termination, and the zone sponsor and the county assessor subsequently approved the Application under ORS 285C.140 (Application for authorization) after termination, but:
This subsection is superseded by section (5) of this rule in any enterprise zone that would otherwise sunset under ORS 285C.245 (Termination)(2) on or after July 1, 2025.
For any authorized business firm described in section (1) of this rule, its authorization expires on January 1 directly after the 30th month following the zone’s termination, such that only if qualified property proposed pursuant to the Application is in service before that date may the firm claim and receive the exemption under ORS 285C.245 (Termination)(1)(a)(B). (As such, the authorization also remains active but may not be extended, irrespective of ORS 285C.165 (Extension of period of authorization), for qualified property remaining outside of a current enterprise zone)
In order for an Application to be approved with respect to any investment in qualified property at a location anywhere in the terminated zone that remains outside a currently designated enterprise zone, the Firm/applicant must satisfy the grand-fathering provisions in accordance with OAR 123-674-8200 (Grandfathering in a Terminated Zone).