Or. Admin. Code § 123-091-0020 - Approval and Amount of OBEP Fund Loan

(1) The Director, or his designee, in his sole discretion, shall determine whether to approve a loan to a Business from the OBEP Fund and the amount of the loan.

(2) A loan from the OBEP Fund shall not exceed the lesser of:

(a)

(A) The amount of estimated Oregon personal income taxes to be paid in the two calendar years following the year of OBEP loan approval by Eligible Employees, using the result of the following formula:

(B) Average wage of all Eligible Employees multiplied by the applicable Tax as a Percent of Taxable Income from Table B: Average Income and Tax (Dollars) in the Oregon Department of Revenue's most recently published Oregon Personal Income Tax Statistics, All Returns and Full-Year Resident Returns (by AGI) multiplied by 2.

(b) The amount currently available in the OBEP Fund.

Notes

Or. Admin. Code § 123-091-0020

OBDD 4-2012, f. 3-30-12, cert. ef. 4-2-12

Stat. Auth.: ORS 285A.075, 285 B & OL Ch. 549, Sec. 1-8 & 10-11

Stats. Implemented: ORS 285 B, OL Ch. 549, Sec. 1-8 & 10-11