ORS 285C.623
Strategic investment zones

  • establishment
  • fees

(1)

A county seeking to ensure that all eligible projects constructed or installed within a particular geographic area within the county receive the tax exemption under ORS 307.123 (Property of strategic investment program eligible projects) may request designation of the geographic area as a strategic investment zone. The request must be made by official action of the governing body of the county taken at a regular or duly called special meeting of the governing body by the affirmative vote of a majority of members of the governing body. The request must set forth the proposed boundaries of the zone.

(2)

The governing body of the county shall forward appropriate actions requesting zone establishment to the Oregon Business Development Department for consideration by the Oregon Business Development Commission. If the commission determines that the proposed zone is likely to achieve the purpose set forth in ORS 285C.603 (Legislative purpose) and other objectives established for the zone by the requesting county, the department or the commission, the commission shall designate the geographic area a strategic investment zone.

(3)

Any eligible project described in ORS 285C.606 (Determination of projects for tax exemption) (2) and newly constructed or installed after the date of zone designation under this section shall qualify for exemption under ORS 307.123 (Property of strategic investment program eligible projects) if the business firm benefited by the eligible project complies with the fee agreement described in subsection (4) of this section.

(4)

The county may not make the request under subsection (1) of this section unless, after a public hearing:

(a)

The county and, if the proposed zone will be located within a city, the city have entered into an agreement described in this subsection.

(b)

The agreement provides for the payment of a fee by each business firm that is to own or operate an eligible project within the proposed zone, as a condition for the exemption under ORS 307.123 (Property of strategic investment program eligible projects). The agreement shall provide for the payment of the fee, as follows:

(A)

The fee shall be for community services support that relates to the direct impact of the eligible project on public services.

(B)

The fee shall be in an amount equal to 25 percent of the property taxes that would, but for the exemption, be due on the exempt property in each assessment year, but not exceeding $2 million per eligible project in any year or, if the eligible project is located in a rural area, $500,000 per eligible project in any year.

(C)

The fee shall be paid annually during the tax exemption period by each business firm having an eligible project within the zone, as of a date set forth in the agreement.

(c)

The agreement provides for the refunding or crediting of overpayments, for interest on late payments or underpayments and for the manner in which the appeal of the assessed value of the property included in the project will affect the fee.

(5)

The agreement described in subsection (4) of this section may provide for any other requirements that each business firm must comply with in order for the eligible project of the firm to qualify for exemption under ORS 307.123 (Property of strategic investment program eligible projects).

(6)

Intentionally left blank —Ed.

(a)

The fee collected under subsection (4)(b) of this section shall be distributed by the county based on an additional agreement described in this subsection. An agreement described in this subsection is effective only if:

(A)

The county and the city, if any, in which the eligible project is located have entered into the agreement; and

(B)

Local taxing districts listed in ORS 198.010 (“District” defined for chapter) or 198.180 (“District” defined for ORS 198.190) that constitute at least 75 percent of the property tax authority of all local taxing districts listed in ORS 198.010 (“District” defined for chapter) or 198.180 (“District” defined for ORS 198.190) that are in the code area in which the eligible project is located have entered into the agreement.

(b)

If an additional agreement is not entered into under paragraph (a) of this subsection within three months after the date of the determination by the commission under ORS 285C.606 (Determination of projects for tax exemption) (1), the commission shall, by official action, establish a formula for distributing the fee collected under subsection (4)(b) of this section. [2005 c.237 §5]

Source: Section 285C.623 — Strategic investment zones; establishment; fees, https://www.­oregonlegislature.­gov/bills_laws/ors/ors285C.­html.

285C.045
Short title
285C.050
Definitions for ORS 285C.050 to 285C.250
285C.055
Legislative purpose
285C.060
Duties of Oregon Business Development Department
285C.065
Designation of enterprise zone
285C.066
Department may adopt certain rules
285C.067
Consultation with local taxing districts
285C.068
Port cosponsorship of zones
285C.070
Election to permit hotels, motels or destination resorts as eligible business firms
285C.074
Documentation for zone designation or redesignation to be submitted to department
285C.078
Notification to department of intent to make designation of enterprise zone or zone or city for electronic commerce
285C.085
Federal enterprise zones
285C.090
Requirements for area to be designated zone
285C.095
Designation for electronic commerce
285C.100
Alternative designation of city for electronic commerce
285C.102
Documentation for designation of zone or city for electronic commerce to be submitted to department
285C.105
Duties of zone sponsor
285C.110
Availability of public property
285C.115
Change of zone boundaries
285C.117
Documentation for zone boundary change to be submitted to department
285C.120
Zone boundary change restrictions when county ceases to be sparsely populated
285C.125
Duties of Department of Revenue
285C.130
Duties of county assessor
285C.135
Requirements for eligibility
285C.140
Application for authorization
285C.145
Leasing existing property to authorized firm
285C.150
Conditions required by sponsor for authorization
285C.155
Minimum employment and other requirements for authorization
285C.160
Agreement between firm and sponsor for additional period of exemption
285C.165
Extension of period of authorization
285C.170
Construction-in-process exemption
285C.175
Enterprise zone exemption
285C.180
Qualified property generally
285C.185
Minimum cost of qualified property
285C.190
Requirements for qualifying reconditioned, refurbished, retrofitted or upgraded property
285C.200
Qualifications of business firm
285C.203
Suspension of employment requirements
285C.205
Effect of productivity increases on qualification of certain firms
285C.210
Substantial curtailment of business operations
285C.215
First-source hiring agreements
285C.220
Exemption claims
285C.225
Sponsor’s addendum
285C.230
Assessor to grant or deny exemption
285C.235
Authority of county assessor
285C.240
Disqualification
285C.245
Termination
285C.250
Redesignation or designation of new zone following zone termination
285C.255
Sunset of enterprise zone program
285C.300
Definitions for ORS 285C.300 to 285C.320
285C.303
Legislative findings
285C.306
Reservation enterprise zones and reservation partnership zones
285C.320
Status of reservation enterprise zone and reservation partnership zone
285C.350
Definitions for ORS 285C.350 to 285C.370
285C.353
Designation of rural renewable energy development zones
285C.356
Application for authorization
285C.359
Qualified property
285C.362
Exemption
285C.365
Application of enterprise zone laws
285C.370
Rules
285C.400
Definitions for ORS 285C.400 to 285C.420
285C.403
Certification of business firm
285C.406
Claiming property tax exemption or income tax credit
285C.409
Property tax exemption
285C.412
Conditions for continued exemption
285C.415
Notice to county assessor
285C.420
Disqualification
285C.495
Short title
285C.500
Definitions for ORS 285C.500 to 285C.506
285C.503
Preliminary certification of facility
285C.506
Annual certification of facility
285C.540
Definitions for ORS 285C.540 to 285C.559
285C.543
Rules
285C.545
Annual limit to cost of facility in granting tax credits
285C.547
Application for preliminary certification
285C.549
Transferability of facility tax credit
285C.551
Submission of plans, specifications and contract terms
285C.553
Final certification
285C.555
Rules
285C.557
Certification required for tax credits
285C.559
Revocation of certificate
285C.600
Definitions for ORS 285C.600 to 285C.635
285C.603
Legislative purpose
285C.606
Determination of projects for tax exemption
285C.609
Request by county
285C.612
Eligible project application fees
285C.615
Annual participant reports
285C.620
Confidentiality of project information
285C.623
Strategic investment zones
285C.626
Business firm application for project within strategic investment zone
285C.635
Determination of personal income tax revenue
285C.650
Certification as qualified equity investment
285C.653
Tax credit utilization limit per tax year
285C.656
Suspension or revocation of certificate
285C.659
Report
Green check means up to date. Up to date