Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 680 - RURAL RENEWABLE ENERGY DEVELOPMENT ZONES
Section 123-680-1600 - Further Distinctions from an Enterprise Zone Exemption
Current through Register Vol. 63, No. 3, March 1, 2024
For an RREDZ exemption, in comparison with a business firms' using an enterprise zone:
(1) The application for authorization shall give special attention to characterizing the proposed investment in qualified property, clarifying how it relates to renewable energy, and estimating its real market value by January 1 of the first full calendar year of operations
(2) In order to qualify and be exempt, the property of the firm must effectively and substantively correspond to the description in the application, equivalent to OAR 123-674-1700(2).
(3) For purposes of a business firm's receiving authorization and then qualifying:
(4) The exemption is essentially the same as that under ORS 285C.175, once property has been placed in service. There is, however, no special exemption during construction like under ORS 285C.170, although the exemption under ORS 307.330 may be used as otherwise permissible.
(5) For purposes of an additional one or two years of exemption (following the basic three-year period) on qualified property to be located inside a county that is part of a multi-county RREDZ but not its sponsor:
(6) For purposes of a local waiver of requirements for increasing the employment of the firm inside the zone:
Statutory/Other Authority: ORS 285A.075 & 285C.370
Statutes/Other Implemented: OR 285C.350 - 285C.370