Oregon Business Development Department
Chapter 123
Division 668
LOCAL ENTERPRISE ZONE SPONSORSHIP
123-668-1600
Funds Derived through an Enterprise Zone
Moneys or revenue due to the enterprise zone are a special but publicly accountable resource. They may arise:
(1) In the form of payments to the zone sponsor by a business firm:
(a) As specified in statute or law, in the case of:
(A) The authorization filing fee under ORS 285C.140(1)(c) consistent with OAR 123-668-1700; or
(B) The payback of one year’s tax savings in lieu of disqualification under ORS 285C.240(6), as described in OAR 123-674-6600 to 123-674-6630.
(b) As a result of an additional requirement agreed to or imposed on the firm by the sponsor in conformance with OAR 123-668-2000 to 123-668-2500 for the situations described in OAR 123-668-2000(1) and (2). (Such requirements might also have the firm make payments to other entities, such as a charitable cause, or perform other types of actions)
(2) Under ORS 285C.205(3), through deposits by a qualified business firm into an account established by the sponsor, from which moneys are either refunded to the firm for training expenses, or transferred to local publicly funded job training providers.
(3) The Department of Revenue’s distribution to the sponsor and other taxing districts of 30 percent of the corporate income or excise taxes paid by a corporation under ORS 317.131, as addressed in OAR 123-690-8500.
Statutory/Other Authority: 285C.060(1) & ORS 285A.075
Statutes/Other Implemented: ORS 285C.105, 285C.140, 285C.150, 285C.155, 285C.160, 285C.203, 285C.205, 285C.240, 285C.403 & ORS 317.131
History:
OBDD 15-2020, minor correction filed 08/31/2020, effective 08/31/2020
OBDD 9-2020, amend filed 08/12/2020, effective 08/12/2020
OBDD 13-2015, f. & cert. ef. 11-12-15
OBDD 26-2010, f. & cert. ef. 6-14-10