2011 ORS § 285C.615¹
Annual participant reports
  • penalty
  • disclosure
  • rules

(1) On or before April 1 following each tax year that property is exempt under ORS 307.123 (Property of strategic investment program eligible projects), the business firm that owns or leases the exempt property shall submit a report to the Oregon Business Development Department, in addition to any other reporting or filing requirement.

(2) The report shall be in a form prescribed by the department and shall include:

(a) The assessed value and location of taxable and exempt property constituting the eligible project and the corresponding payment and savings of property taxes for the tax year, as ascertained from the county assessor;

(b) The amount and disposition of fees and other amounts paid by the business firm pursuant to the agreement with the county under ORS 285C.609 (Request by county) in the immediately preceding calendar year;

(c) The average number of persons hired or employed by the business firm in association with the eligible project, determined by dividing the total number of hours for which such hired or employed persons were paid during the immediate prior calendar year by 2,080;

(d) The annual amount of taxable income and total compensation paid to employees as described in paragraph (c) of this subsection;

(e) Numbers and amounts as described in paragraphs (c) and (d) of this subsection for jobs retained in direct relation to the eligible project; and

(f) Any other information required by the department.

(3) If a business firm fails to provide a report required under this section or to verify information as requested by the department, the Oregon Business Development Commission, upon recommendation by the department, may suspend the determination of the commission that the project receive the tax exemption provided for in ORS 307.123 (Property of strategic investment program eligible projects). If the commission suspends the determination of eligibility under this subsection, the exemption is revoked as provided in ORS 307.123 (Property of strategic investment program eligible projects) (6), until the department receives the report. Upon receipt of a report required under this section or the information requested by the department, the department shall notify the commission and the commission shall rescind the suspension.

(4) Information collected under this section may be used by the department to make aggregate figures and analyses of activity under the strategic investment program publicly available.

(5) Specific data concerning the financial performance of individual firms collected under this section is exempt from public disclosure under ORS chapter 192.

(6) Within 60 days of receiving the reports required under this section, the department shall compile and organize the reported information for purposes of ORS 285C.635 (Determination of personal income tax revenue) and transmit it to the Oregon Department of Administrative Services.

(7) The department shall adopt rules the department considers necessary to administer ORS 285C.600 (Definitions for ORS 285C.600 to 285C.626) to 285C.626 (Business firm application for project within strategic investment zone). [2007 c.905 §2]

Note: Section 6, chapter 905, Oregon Laws 2007, provides:

Sec. 6. (1) Sections 2 [285C.615 (Annual participant reports)] and 3 [285C.635 (Determination of personal income tax revenue)] of this 2007 Act apply to tax years beginning on or after January 1, 2009, and before January 1, 2019.

(2) Sections 2 and 3 of this 2007 Act apply only to income taxes generated as the result of an eligible project that first becomes exempt from property taxation under ORS 307.123 (Property of strategic investment program eligible projects) on or after January 1, 2008, and continue to apply only as long as the project remains exempt. [2007 c.905 §6]