Or. Admin. R. 123-400-0090 - [Effective until 11/25/2024] Revenue and Employment Requirements
(1) The agreement
shall specify whether fulfilment of program requirements to avoid repayment of
program grant or loan proceeds will be primarily determined by satisfaction of
section 1(4)(e) or 1(4)(f), chapter 25, Oregon Laws 2023, namely:
(a) by fulfilling the required return on
investment ("ROI") in terms of state and local revenue associated with the
project and respective to the amount of program grant or loan proceeds received
by the business; or
(b) by
fulfilling the creation of qualifying new jobs in Oregon associated with the
project.
(2) The
agreement may allow for amendment and subsequent reassignment of the selection
of paragraph (1)(a) or (b) of this rule under limited circumstances.
(3) For the ROI measure provided in paragraph
(1)(a) of this rule, a business must meet the obligations as provided in the
agreement, which shall equal or exceed the obligations of section 1(4)(e),
chapter 25, Oregon Laws 2023.
(4)
For the job creation measure provide in paragraph (1)(b) of this rule, a
business must meet the obligations in the agreement, which shall equal or
exceed the obligations of section 1(4)(f), chapter 25, Oregon Laws
2023.
(5) Notwithstanding section
(1) above, the agreement may provide that the business' ROI obligation may be
satisfied by either section 1(4)(e) or 1(4)(f), chapter 25, Oregon Laws 2023,
i.e. whichever obligation is satisfied first (state and local revenue or job
creation).
Notes
Statutory/Other Authority: ORS 285A.075 & OR Laws 2023 ch. 25 §§1, 2 & 5
Statutes/Other Implemented: OR Laws 2023 ch. 25 §§1, 2 & 5
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