Strategic Investment Program
(1)The county shall establish a separate tax account for project investments (for example A-1 account for buildings and M & E, and when applicable, a separate personal property account).
(2)Value not defined in the eligible project is taxable in addition to the trended base (assessable portion of the eligible project).
(3)The agreement between the company and the county governing body shall state that the company shall file with the Department of Revenue the information required by ORS 308.285 (Requiring taxpayer to furnish list of taxable property)–308.290 (Returns) on the annual industrial property return as if the property were taxable.
(4)The Department of Revenue shall be responsible for the following:
(a)Accumulating the invested cost on the eligible project from data provided by the company on their industrial property return.
(b)Determining the RMV of buildings, machinery and personal property identified as part of the eligible project.
(c)Transmitting the above data to the counties.
(5)The county assessor shall be responsible for:
(a)Determining the trended base at three percent annually (for example $100 million the first year, $103 million the second year).
(b)Allocating the trended base of the eligible project per ORS 307.123 (Property of strategic investment program eligible projects)(2)(a).
(c)Determining the exempt value.
(6)The county assessor and governing body shall be responsible for determining the amount of the community services fee and establishing procedures for the billing, collection and distribution of the community services fee. Enforcement of the contracts or other agreements shall be the sole responsibility of the parties to the contract.
Rule 150-307-0100 — Strategic Investment Program,