Current through Register Vol. 63, No. 9, September 1, 2024
(1) A business
shall submit a report and documentation to the department each year by November
15, verifying, as applicable to their agreement, their project's annual:
(a) State and local revenue generated in
accordance with section 1(4)(e), chapter 25, Oregon Laws 2023, setting forth
the kinds, amounts and timing of the revenue generated; or
(b) New jobs created in accordance with
section 1(4)(f), chapter 25, Oregon Laws 2023.
(2) If applicable, based on the negotiated
agreement, a company may report both state and local revenue generated as
provided in (1)(a) of this section and new jobs created as provided in (1)(b)
of this section. The obligation will be considered satisfied with whichever
metric (revenue or jobs) is met first.
(3) Only state and local revenue generated,
or new jobs created that can be verified by the department will count towards
meeting the business's applicable agreement obligations. A business at its
discretion may omit revenues or jobs from the calculation.
(4) Businesses obligated to generate state
and local revenue in accordance with section 1(4)(e), chapter 25, Oregon Laws
2023 and the agreement shall:
(a) Provide
payroll data for the project for purposes of estimating personal income taxes
if a business desires to include personal income taxes generated by their
project in the calculation of the state and local revenue generated.
(b) Provide tax returns, invoices,
statements, and the like as applicable to document the state and local revenue
generated if a business desires to include payroll taxes, corporate activity
taxes, system development charges, property taxes, community service fees, or
other taxes, fees or payments to state and local governments in the calculation
of the state and local revenue generated.
(c) Provide applicable and sufficient
documentation to allow the department to verify the state and local revenue
generated if a business seeks to utilize taxes, fees, or other payments
collected by the state or a local government from other businesses that are
vendors, suppliers or contractors to the project to meet their agreement
obligations.
(d) Provide sufficient
documentation to allow the department to verify the expenditures made on
project, for those costs the business seeks to utilize in the calculation for
meeting their agreement obligation.
(e) Comply with any limitations, exclusions,
or requirements included in the agreement.
(5) The agreement may provide for adjustment
in specified types of state and local revenues that are included to meet the
obligations described in (1)(a) of this rule, depending on the quality of data
that is otherwise available relative to verification expectations, including
but not limited to information the business effectively does provide or
report.
(6) Businesses obligated to
create new jobs in accordance with section 1(4)(f), chapter 25, Oregon Laws
2023 and the agreement shall:
(a) Provide
documentation of the business' jobs and payroll to be included in the
calculation for each quarter during the term of the agreement for the project.
The documentation must be consistent with quarterly payroll data submitted to
the Oregon Employment Department.
(b) Provide documentation regarding the
number of existing jobs and of new hirings for permanent, full-time positions
each quarter, associated with the project to be included in the calculation to
meet the business's obligations. Documentation shall include annual average
wages, job descriptions, weekly hours, pay scale and locations of the job. Only
in-state jobs may be utilized to meet the new jobs created
obligations.
(c) Provide
documentation for other jobs associated with the project, including those in
research and development, those partnering with institutions of higher
education, and other jobs that are permanent, full-time positions that are
associated with the project but are not jobs within the business, that are to
be included in the calculation to meet the business's obligations.
(7) Businesses are required to
cooperate with the Department, providing the Department with authorizations and
access to applicable state and local government records to conduct verification
activities for obligations described in section (1) of this rule, including but
not limited to those records held by the Oregon Department of Revenue and the
Oregon Employment Department.
(8) A
business shall submit a report and documentation to the department at least
each year by November 15, verifying, as applicable to their agreement, their
use of the program grant or loan proceeds for the project. Such an expenditure
report shall detail project costs in accordance with section 1 (3)(a), chapter
25, Oregon Laws 2022, and as authorized by the Department under the terms of
the agreement. The expenditure report shall:
(a) Detail all capital expenses associated
with the project paid for with program grant or loan proceeds, and include the
submission of documentation, including itemized receipts for purchases and
contractor billings as required by the department. This may include costs of
new construction, tenant improvements, equipment, tools, and machinery, and
other facility improvements, modifications, installations or enhancements;
and
(b) Details other soft costs
(design, engineering, legal fees, etc.) of the project paid for with program
grant or loan proceeds.
Statutory/Other Authority: ORS
285A.075 & OR Laws 2023 Ch.
25 §4
Statutes/Other Implemented: OR Laws 2023 Ch. 25
§4
