Or. Admin. R. 123-400-0020 - [Effective until 11/25/2024] Definitions
For the purposes of this division of administrative rules, in addition to definitions found in OAR Chapter 123, Division 1 (Procedural Rules) and OAR 123-400-0010, the following terms have the meanings set forth below:
(1) "Agreement" means a program grant or loan
contract between the Department and a business for an approved application that
provides for the award amount from the fund and the terms of the contract. The
term agreement does not include a contract for an application assistance
grant.
(2) "Application" means the
Department-prescribed form which includes contents including but not limited to
those prescribed by section 2(1), chapter 25, Oregon Laws 2023, that an
applicant must submit to propose a project and to request a program grant or
loan, and also includes the supplemental attachments and exhibits that the
applicant completes or furnishes to the Department.
(3) "Application assistance grant" means a
grant to a business pursuant to section 1(4)(g), chapter 25, Oregon Laws 2023,
and as described in OAR
123-400-0050, to defray costs of
preparing an application to the U.S. Government for federal semiconductor
financial assistance.
(4) "Average
median income" as used in section 1(4)(f)(B), chapter 25, Oregon Laws 2023,
means an average of the median household income, from the most recently
available 5-year American Community Survey of the U.S. Census Bureau, for all
counties constituting the Department's regional service area in which the
project is located, as described at https://www.oregon.gov/biz/, and
weighted respective to the corresponding number of households in each
county.
(5) "Business" means a
person operating or conducting one or more trades or businesses as a private
entity or consortium of such entities, whether for profit or not, that is a
covered entity, notwithstanding other types of covered entities that would not
be a business.
(6) "Fund" means the
Oregon CHIPS Fund established under section 6, chapter 25, Oregon Laws
2023.
(7) "Grant and loan proceeds"
means all payments or disbursements made to the business from the Fund, less
the amount of any repayment, deduction or fee, and not including any
application assistance grant.
(8)
"Permanent, full-time positions" as used in section 1(4)(f)(A), chapter 25,
Oregon Laws 2023, means jobs, in which the employee is hired to work year-round
and is paid for more than 32 hours of the workweek on average during the course
of a year, and excludes any job that is temporary, seasonal, part-time (except
for job-share), or only for constructing or installing property.
(9) "Project" means the investments and
operations of a business that will or have used program grant and loan proceeds
from the Fund according to an agreement
(10) "State and local revenue" as used in
section 1(4)(e), chapter 25, Oregon Laws 2023, means public revenue from taxes,
fees or other sources, whether paid by the business or not, that:
(a) Arise from direct or indirect economic
and fiscal impacts of the investment and operations of a project; and
(b) Can be accounted for with records or
estimated by the Department's modeling as accumulating to the government of
this state or of any local jurisdiction containing the project during the
period in which the agreement is in effect.
Notes
Statutory/Other Authority: ORS 285A.075 & OR Laws 2023 Ch. 25 §§1-6
Statutes/Other Implemented: OR Laws 2023 Ch. 25 §§1-6
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