Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 400 - OREGON CHIPS PROGRAM
Section 123-400-0090 - Revenue and Employment Requirements

Universal Citation: OR Admin Rules 123-400-0090

Current through Register Vol. 63, No. 3, March 1, 2024

(1) The agreement shall specify whether fulfilment of program requirements to avoid repayment of program grant or loan proceeds is primarily determined by satisfaction of section 1(4)(e) or 1(4)(f), chapter 25, Oregon Laws 2023, namely:

(a) by fulfilling the required return on investment ("ROI") in terms of state and local revenue associated with the project and respective to the amount of program grant or loan proceeds received by the business; or

(b) by fulfilling the creation of qualifying new jobs in Oregon associated with the project.

(2) The agreement may allow for amendment and subsequent reassignment of the selection of paragraph (1)(a) or (b) of this rule under limited circumstances.

(3) For the ROI measure provided in paragraph (1)(a) of this rule, a business must meet the obligations as provided in the agreement, which shall equal or exceed the obligations of section 1(4)(e), chapter 25, Oregon Laws 2023.

(4) For the job creation measure provide in paragraph (1)(b) of this rule, a business must meet the obligations in the agreement, which shall equal or exceed the obligations of section 1(4)(f), chapter 25, Oregon Laws 2023.

Statutory/Other Authority: ORS 285A.075 & OR Laws 2023 ch. 25 §§1, 2 & 5

Statutes/Other Implemented: OR Laws 2023 ch. 25 §§1, 2 & 5

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