71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 2892
 
                           A-Engrossed
 
                         Senate Bill 685
                   Ordered by the House May 29
             Including House Amendments dated May 29
 
Sponsored by Senator MESSERLE (at the request of Oregon Ports
  Group)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
 
  Authorizes ports to levy property taxes to fund law enforcement
services provided by city or county within port boundaries. { +
Restricts method that may be used to levy tax. + }
 
                        A BILL FOR AN ACT
Relating to tax authority of ports; amending ORS 777.430.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 777.430 is amended to read:
  777.430. (1) In carrying out the purposes of ORS 777.005 to
777.725 and 777.915 to 777.953, a port may assess, levy and
collect taxes upon all taxable real and personal property
situated within the port, in an amount each year not to exceed
one-fourth of one percent (.0025) of the real market value of the
property, computed in accordance with ORS 308.207.
  (2) Each year a port may also assess, levy and collect a tax
upon all such property in an amount sufficient to pay the yearly
interest on general obligation bonds or other evidences of
indebtedness theretofore issued by the port and then outstanding,
together with any portion of the principal of general obligation
bonds maturing within that year. The tax shall be applied only in
payment of interest and principal of such bonds or indebtedness.
However, the board may apply any other funds it may have toward
such payments.
   { +  (3)(a) A port may assess, levy and collect a tax upon all
taxable real and personal property situated within the port for
the purpose of providing revenue to a city or county in which the
port is located for law enforcement services provided by the city
or county within the boundaries of the port.
  (b) A tax described in this subsection may be levied only as
prescribed under ORS 280.040 to 280.145.
  (c) The transfer of moneys raised pursuant to this subsection
to a city or county for funding law enforcement services of the
city or county within the port is a public purpose for which a
port levying a tax under this subsection has been organized. + }
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