72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
 
                            Enrolled
 
                         Senate Bill 858
 
Sponsored by Senator WINTERS
 
 
                     CHAPTER ................
 
 
                             AN ACT
 
 
Relating to enterprise zones; and prescribing an effective date.
 
Be It Enacted by the People of the State of Oregon:
 
  SECTION 1.  { + Sections 2 and 3 of this 2003 Act are added to
and made a part of ORS 285B.650 to 285B.728. + }
  SECTION 2.  { + (1) Notwithstanding ORS 285B.704 (1)(d), (e) or
(h) or (3), an eligible business firm is a qualified business
firm if:
  (a) The firm completes an investment of $20 million or more in
qualified property on or before December 31 preceding the first
assessment year for which exemption under ORS 285B.698 is sought;
  (b) The zone sponsor approves the extension of property tax
benefits to the firm; and
  (c) The firm was precertified on or after January 1, 2000, and
before January 1, 2001.
  (2) The approval of the zone sponsor to extend property tax
benefits to the firm shall be documented by resolution of the
governing body of the sponsor. The resolution may:
  (a) Modify or waive minimum employment requirements specified
in a prior resolution adopted by the sponsor under ORS 285B.704
(3); and
  (b) Specify application to past, current or future tax years.
  (3) A resolution described in subsection (2) of this section
must be adopted by the governing body of the zone sponsor on or
before June 30, 2004.
  (4) An eligible business firm that satisfies the requirements
of subsection (1) of this section shall be deemed to satisfy the
requirements of ORS 285B.704.
  (5) Upon satisfying the requirements of subsection (1) of this
section, the qualified property of the business firm shall be
exempt from tax for the years specified in the resolution of the
zone sponsor and in which the qualified property of the firm
meets the requirements for exemption under ORS 285B.698. + }
  SECTION 3.  { + (1) A qualified business firm described in
section 2 of this 2003 Act that has received the approval of the
zone sponsor under section 2 (1)(b) of this 2003 Act may apply in
writing to the county assessor for the refund of any property
taxes imposed on the qualified property described in section 2
(1)(a) of this 2003 Act for the tax year beginning July 1, 2002,
and any related interest or penalties, that have been paid by the
firm.
 
 
 
 
Enrolled Senate Bill 858 (SB 858-B)                        Page 1
 
 
 
  (2) Upon receipt of the application for refund, the county
assessor shall determine the amount to be refunded and shall
certify that amount to the county treasurer.
  (3) The county treasurer shall refund the amount certified, out
of the refund reserve account established under ORS 311.807 or
out of the unsegregated tax collections account described in ORS
311.385, to the business firm. Interest may not be paid on the
refund.
  (4) If property taxes, interest or penalties described in
subsection (1) of this section have not been paid, such amounts
shall be abated. + }
  SECTION 4.  { + Sections 2 and 3 of this 2003 Act are repealed
December 31, 2007. + }
  SECTION 5.  { + This 2003 Act takes effect on the 91st day
after the date on which the regular session of the Seventy-second
Legislative Assembly adjourns sine die. + }
                         ----------
 
 
Passed by Senate April 22, 2003
 
Repassed by Senate June 4, 2003
 
 
      ...........................................................
                                              Secretary of Senate
 
      ...........................................................
                                              President of Senate
 
Passed by House May 19, 2003
 
 
      ...........................................................
                                                 Speaker of House
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enrolled Senate Bill 858 (SB 858-B)                        Page 2
 
 
 
 
 
Received by Governor:
 
......M.,............., 2003
 
Approved:
 
......M.,............., 2003
 
 
      ...........................................................
                                                         Governor
 
Filed in Office of Secretary of State:
 
......M.,............., 2003
 
 
      ...........................................................
                                               Secretary of State
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enrolled Senate Bill 858 (SB 858-B)                        Page 3