74th OREGON LEGISLATIVE ASSEMBLY--2007 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 655
 
                           A-Engrossed
 
                         Senate Bill 151
                 Ordered by the Senate April 10
           Including Senate Amendments dated April 10
 
Printed pursuant to Senate Interim Rule 213.28 by order of the
  President of the Senate in conformance with presession filing
  rules, indicating neither advocacy nor opposition on the part
  of the President (at the request of Governor Theodore R.
  Kulongoski for Economic and Community Development Department)
 
 
                             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.
 
  Extends sunset date for enterprise zone program from June 30,
2009, to June 30,   { - 2021 - }  { +  2013 + }.
   { +  Directs Oregon Economic and Community Development
Commission to report to Legislative Assembly regarding evaluation
of enterprise zone performance and related tax incentives. + }
 
                        A BILL FOR AN ACT
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 Oregon:
  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) Prior to February 1, 2009, the Oregon
Economic and Community Development Commission shall submit to 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 report 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.
  (3) Under the direction of the commission, the Economic and
Community Development Department shall retain the services of one
or more outside experts to perform the evaluations described in
this section or to review the results of the evaluations.
  (4) The commission shall share preliminary results of the
evaluations with interested parties and consider ways to
incorporate comments received into the report submitted to the
Legislative Assembly under subsection (1) of this section. + }
                         ----------