Current through Register Vol. 63, No. 9, September 1, 2024
Under ORS
285C.165 an eligible business
firm's authorization in an enterprise zone becomes 'inactive' after more than
two years, such that:
(1) The
authorization remains active over:
(a) The
remainder of the year after approval of the Application;
(b) The two-year period immediately
following; and
(c) Each two-year
period directly thereafter, subject to a statement of renewal as described in
subsection (2)(b) of this rule.
(2) Authorization is still active if
immediately after any period described in section (1) of this rule, the firm:
(a) Files successfully under ORS
285C.220 and
285C.225 to initially claim
exemption on qualified property placed in service during such a period, at
which point this rule is no longer operative; or
(b) Submits a written statement between
January 1 and April 1 (as presently received by both the local zone manager and
the county assessor's office) that:
(A) Comes
from the firm consistent with authority required for making
Application;
(B) Informs or
indicates that the firm still intends to complete its proposed investment in
qualified property inside the zone and to claim the exemption; and
(C) Revises or amends any relevant
information in the Application.
(3) With respect to a statement in subsection
(2)(b) of this rule:
(a) Whether acknowledged
by the firm or not, the Established County Wage applicable to any compensation
standard is reset to the Current County Wage at the time of the statement's
submission.
(b) Neither filing for
any construction-in-process exemption nor filing a claim under ORS
285C.220 for an exemption that
is denied substitutes for the requisite statement.
(4) An inactively authorized business firm
retains its right to claim the exemption after the periods described in section
(1) of this rule, but letting active status lapse has the following
consequences:
(a) With the initial exemption
claim in an existing enterprise zone:
(A)
Filing fee under ORS 285C.165(3) is
charged; and
(B) Established County
Wage with any compensation standard is reset to the Current County Wage at the
time of filing the claim;
(b) Prior to that claim, even if the zone is
currently still designated, the firm may not receive exemption under ORS
285C.170 while qualified
property is in the process of construction, modification or installation, but
it may still seek exemption under applicably comparable provisions of ORS
307.330 and
307.340; and
(c) The firm is not effectively authorized
under ORS 285C.245(5) for
purposes of OAR 123-650-9500 or 123-650-9600 at the time of the zone's
termination.
Statutory/Other Authority: ORS
285A.075 &
285C.060(1)
Statutes/Other Implemented: ORS
285C.140,
285C.160,
285C.165,
285C.170,
285C.175,
285C.220,
285C.225 &
285C.245
