Or. Admin. Code § 123-674-6600 - Applicability of Payback Provisions

For purposes of ORS 285C.240(6) and OAR 123-674-6600 to 123-674-6630, a qualified business firm's avoidance of disqualification through payment to the zone sponsor of the firm's tax savings for one year is allowed, only if:

(1) The firm fails to meet an employment, compensation, waiver, locally established condition or other requirement under ORS 285C.240(1)(b), (c) or (d), and not for any requirement pertaining to particular qualified property in OAR 123-674-6300 or to the firm's eligibility under ORS 285C.135;

(2) The firm provides written notice under ORS 285C.240 to the zone sponsor or the county assessor by not later than July 1 of the year following the year that failure as described in section (1) of this rule occurred consistent with OAR 123-674-6400(2);

(3) The firm maintains the business operations pertaining to the qualified property, unless the firm can demonstrate that any discontinuation (shutdown) is only temporary;

(4) The firm has not previously used ORS 285C.240(6) for any failure covered by section (1) of this rule to avoid disqualification of the same exemption, respective to property actually first qualifying in the same year, but not in other years even if covered by the same authorization and no longer exempt; and

(5) The firm provides written proof to the county assessor that it has made a nonrefundable payment of the full amount of the preceding year's tax savings to the zone sponsor, not later than August 31 of the year following:

(a) The exemption year in which the failure occurred; or

(b) The fourth year of exemption, in the case of failure to meet a requirement for an additional two years of exemption under ORS 285C.160, during (only) one of the first four exemption years.

Notes

Or. Admin. Code § 123-674-6600

OBDD 27-2010, f. & cert. ef. 6-14-10; OBDD 14-2016, f. & cert. ef. 9/16/2016

Stat. Auth.: ORS 285A.075 & 285C.060(1)

Stats. Implemented: ORS 285C.240