71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
SA to A-Eng. HB 2270
 
LC 1099/HB 2270-A27
 
                      SENATE AMENDMENTS TO
                   A-ENGROSSED HOUSE BILL 2270
 
                     By COMMITTEE ON REVENUE
 
                             June 6
 
  On page 11 of the printed A-engrossed bill, line 25, after '
(3)' insert 'Except as provided in subsection (4) of this
section,'.
  After line 32, insert:
  ' (4)(a) If new construction takes place on or after the
effective date of this 2001 Act with respect to historic property
for which a certificate has been filed under ORS 358.495 (2), the
new construction shall be subject to the maximum assessed value
and assessed value of the historic property under ORS 358.505 if
the new construction is approved by the State Historic
Preservation Officer and:
  ' (A) Is used primarily for residential purposes; or
  ' (B) Is used primarily for nonresidential purposes. New
construction that is used primarily for nonresidential purposes
shall be subject to the maximum assessed value and assessed value
of the historic property under ORS 358.505 only to the extent the
square footage of the new construction, when added to the total
net rentable area of the existing historic property, is less than
or equal to the total net rentable area of the property that
existed prior to the new construction.
  ' (b) New construction that is not approved for historic
property assessment under paragraph (a) of this subsection shall
be assessed as provided in ORS 308.146 (1) to (3).
  ' (c) The State Historic Preservation Officer may adopt rules
establishing procedures for requesting and obtaining the approval
of the State Historic Preservation Officer under this subsection.
  ' (d) For purposes of this subsection, net rentable area shall
be measured in square feet.'.
  In line 33, delete '(4)' and insert '(5)'.
  In line 36, delete '(5)' and insert '(6)'.
  On page 18, delete line 12 and insert:
  '  { +  SECTION 28. + }  { + (1) As used in this section,
'qualified property' means property that was commercial property
at the time the property was first classified and assessed as
historic property under ORS 358.480 to 358.545 and that, as of
July 1 of the 15th tax year of historic property classification
and assessment under ORS 358.480 to 358.545, is no longer
commercial property.
  ' (2) Notwithstanding ORS 358.505 and 358.540, qualified
property that continues to be maintained, rehabilitated or
preserved as historic property shall be assessed as provided in
ORS 358.505 for one additional tax year following the conclusion
of the 15-year period of historic property assessment. The
specially assessed value of the property for the 15th tax year of
historic property assessment shall apply to the additional tax
year.
  ' (3) This section applies to qualified property for which the
original 15-year term of historic property classification and
assessment concludes after June 30, 2003, and before July 1,
2004. + }
  '  { +  SECTION 28a. + }  { + Section 28 of this 2001 Act is
added to and made a part of ORS 358.480 to 358.545. + }
  '  { +  SECTION 28b. + }  { + Section 28 of this 2001 Act is
repealed on December 31, 2006. + } ' .
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