Chapter 888
AN ACT
SB 151
Relating to enterprise zone program; creating new provisions; and
amending ORS 285C.255 and 285C.406.
Be It Enacted by the People of
the State of
SECTION 1. ORS 285C.255 is amended to read:
285C.255. (1) Notwithstanding any other provision of ORS 285C.050 to
285C.250:
(a) An area may not be
designated as an enterprise zone after June 30, [2009] 2013;
(b) A business firm may
not obtain authorization under ORS 285C.140 after June 30, [2009] 2013; and
(c) An enterprise zone,
except for a reservation enterprise zone, that is in existence on June 29, [2009] 2013, is terminated on June
30, [2009] 2013.
(2) Notwithstanding
subsection (1) of this section:
(a) A reservation
enterprise zone may be designated under ORS 285C.306 after June 30, [2009] 2013; and
(b) A business firm may
obtain authorization under ORS 285C.140 after June 30, [2009] 2013:
(A) If located in a
reservation enterprise zone; or
(B) As allowed under ORS
285C.245 (1)(b).
SECTION 2. ORS 285C.406 is amended to read:
285C.406. In order for a
taxpayer to claim the property tax exemption under ORS 285C.409 or a corporate
excise or income tax credit under ORS 317.124:
(1) The written
agreement between the business firm and the rural enterprise zone sponsor that
is required under ORS 285C.403 (3)(c) must be entered
into prior to the termination of the enterprise zone under ORS 285C.245; and
(2) The business firm
must obtain certification under ORS 285C.403 on or before June 30, [2009] 2013.
SECTION 3. (1) Notwithstanding ORS 285C.175 (4) or
285C.180 (1), property of a business firm that otherwise meets applicable
requirements for authorization and qualification under ORS 285C.050 to 285C.250
is exempt from ad valorem taxation as provided in ORS 285C.175 if:
(a) The business firm is
engaged in business activities or operations resulting from a transfer or lease
of real property between the business firm and a public body; and
(b) At the time of the
transfer or lease of real property, according to the most recent federal
decennial census:
(A) The business
activities or operations are located in a city having a population of more than
2,500 but less than 5,500; and
(B) The enterprise zone
is located in a county having a population of more than 6,000 but less than
9,000.
(2) A business firm that
satisfies the criteria of subsection (1) of this section is an eligible
business firm for purposes of ORS 285C.140.
(3) A business firm
described in subsection (2) of this section that seeks to have property
exempted from property taxation as provided in ORS 285C.175 shall apply for
authorization as provided in ORS 285C.140.
SECTION 4. Section 3 of this 2007 Act is repealed on
June 30, 2016.
SECTION 5. (1) Prior to February 1, 2009, the Legislative
Revenue Officer shall file with the Seventy-fifth Legislative Assembly a report
that evaluates the performance of enterprise zones and related tax incentives
under ORS 285C.050 to 285C.250.
(2) The interim
legislative committee of the House of Representatives on revenue or other
appropriate interim committee of the House of Representatives on revenue or
economic development shall evaluate the enterprise zones and related tax
incentives. The evaluation of the enterprise zone program may include, but is
not limited to, evaluations of:
(a) The cost-benefit
analysis of the effects on the state and local economy, public finance and
services and other matters associated with actual business firms receiving the
incentives, including but not limited to assessing the degree to which the
incentives are significantly affecting investments and employment in the
enterprise zones; and
(b) The statistical
change in measures of local economic hardship over time for communities
associated with enterprise zones.
Approved by the Governor August 3, 2007
Filed in the office of Secretary of State August 3, 2007
Effective date January 1, 2008
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