Current through Register Vol. 63, No. 9, September 1, 2024
(1)
(a) The Department shall review each
Application; and
(b) Only after
deeming that information in OAR
123-623-1500 and
123-623-1525 or
123-623-1550 is completely and
accurately provided (except potentially for pending materials or information,
of which the Department is reasonably assured of receipt), shall the Department
make a recommendation to the Commission (subject to actual receipt of any
pending material or information).
(2) In evaluating an Application, the
Commission shall hold at least one meeting open to the public, at which the
matter is an agenda item for discussion, and for which the Department has made
appropriate and customary public notice. At the meeting, the Commission may:
(a) Invite oral statements or written
comments from the public; and
(b)
Have the Applicant appear in order to give a statement and to answer questions
of Department staff or members of the Commission, exclusively.
(3) The Commission may dispense
with some or all of the elements in section (2) of this rule, as otherwise
permitted under ORS Chapter 192, in light of extenuating
circumstances.
(4) Pursuant to
evaluation of the Application, the Applicant's proposed investment(s) are
determined to be an eligible project for Abatement if the Commission finds
that:
(a) The project will satisfy the
criteria for eligibility as established by prior resolution of the Commission
or in this division of administrative rules;
(b) The project will directly benefit a
traded sector industry;
(c) The
Total Cost of investments in property comprising the proposed project will
equal or exceed the minimum amount described in section (5) of this rule by the
time that the Abatement would begin;
(d) The project will not consist of any
property formerly or currently exempt under ORS
285C.175 and the Applicant is
not an authorized business firm for any investment at the exact same location
in an enterprise zone, unless there will be a demarcation between such
qualified property and property subject to the Abatement that is clear enough
for proper valuation and tax administration;
(e) The Applicant is not subject to an
outstanding suspension under ORS
285C.615(3), as
described in OAR 123-623-4000(6),
or under ORS 307.123(7);
and
(f) The Applicant has agreed to
comply with any additional reasonable conditions imposed by the Commission
related to the Strategic Investment Program, including requirements that
continue for the term of the Abatement.
(5) At a minimum, the expected Total Cost of
a project under ORS 285C.606(1)(c)
must be:
(a) For a Commission determination
before the CPI-U/W for 2024 in 2025:
(A) $40
million; or
(B) $150 million in the
case of an Urban Project.
(b) For later determinations, an amount that
is:
(A) Evenly divisible by $100,000;
and
(B) Closest to the product of
the respective figure in paragraph (a)(A) or (B) of this section multiplied by
the greater of one or one plus the percent change between the annual average
of:
(i) The CPI-U/W for 2023; and
(ii) The most recently available
CPI-U/W.
(6) Notwithstanding suspension of the
determination as provided under ORS
285C.615(3) and
307.123(7),
once the Commission has taken formal action to authorize the Abatement, the
Commission's determination is final, and the Commission may reverse, rescind or
withdraw it only by formal finding of a material error or omission among
submitted Application information or a noncompliance with criteria described or
referenced in this rule.
Statutory/Other Authority: ORS
285A.075 &
285C.615(7)
Statutes/Other Implemented: ORS
285C.600 -
285C.635 &
307.123
