Current through Register Vol. 63, No. 9, September 1, 2024
Under ORS
285C.180(2)(d) to
(f) and
285C.225(3),
the Application and information in it restrict what will be exempt under ORS
285C.170 or
285C.175 in only the following
four ways, in that qualified property must be:
(1) Possessed for use by the Firm/applicant
or qualified business firm, such that it either owns the property or leases it
consistent with OAR 123-674-5500, except as
allowably transferred to another eligible business firm acquiring the
authorized firm or the property, including but not limited to OAR
123-674-3200(1)(a) or
(3)(c) or
123-674-4800.
(2) At the same general location when the
exemption begins:
(a) That encompasses a
single, coherent area of business operations;
(b) Which may consist of a complex of lots or
parcels of land or of a comparably proximate set of multiple sites, such that
each lot, parcel or site is separated one from the other by commonly owned
land, and not otherwise broken up except by roads, easements and so forth;
and
(c) Which the Firm/applicant
need not describe in whole, such that inclusion in the Application of a street
address or tax lot within the overall area is sufficient.
(3) Generically identified in terms of:
(a) Any building or structure, which has
construction, reconstruction or modification costs of $50,000 or more (An
Application's reference to a project, for which associated improvements are
implicit, may be treated as adequate for this subsection).
(b) The basic category of property,
regardless of cost, as represented in some way with respect to:
(A) Newly constructed
buildings/structures;
(B) Additions
to or modifications to existing buildings, structures or portions
thereof;
(C) Newly installed real
property machinery & equipment;
(D) Modifications to real property machinery
& equipment under ORS
285C.190; or
(E) Newly installed personal
property.
(4)
Placed in service over not more than three successive years, such that:
(a) Once the business firm successfully
claims any exemption pursuant to the Application (whether later or earlier than
anticipated), subsequent exemptions may be claimed based on the same
Application only in one or both of the next two years. This is true regardless
of an extended abatement or the length of the underlying periods of
exemption.
(b) Additional qualified
property covered by each subsequent exemption necessitates its being:
(A) Placed in service during the first or
second year of the initial exemption; and
(B) Listed in a new property schedule under
ORS 285C.225, as filed with the same
exemption claim for that and prior property (see OAR
123-674-6100 and
123-674-6200).
(c) Each exemption as described in
this section shall enjoy its own three to five-year exemption period, which
will overlap.
(d) All overlapping
and ongoing exemptions for purposes of this section are subject to
disqualification for noncompliance based only on:
(A) Requirements arising from that
Application; and
(B) The applicable
time frame respective to each exemption period.
Statutory/Other Authority: ORS
285A.075 &
285C.060(1)
Statutes/Other Implemented: ORS
285C.140,
285C.170,
285C.175,
285C.180,
285C.185,
285C.190,
285C.220 &
285C.225
