2013 ORS § 285C.635¹
Determination of personal income tax revenue
  • transfer to Shared Services Fund
  • rules

(1) Upon receipt of information compiled under ORS 285C.615 (Annual participant reports), the Oregon Department of Administrative Services shall determine the annual amount of personal income tax revenue attributable to each eligible project for which an eligible business firm received a property tax exemption under ORS 307.123 (Property of strategic investment program eligible projects). The amount of personal income tax revenue attributable to each eligible project under this subsection may not include personal income tax revenue attributable to the estimated incremental income tax revenues generated by an eligible employer in connection with a tax reimbursement arrangement or loan agreement that has been entered into under the Oregon Industrial Site Readiness Program established by ORS 285B.627 (Oregon Industrial Site Readiness Program).

(2) In determining the amount of personal income tax revenue attributable to each eligible project, the Oregon Department of Administrative Services may rely on reasonable techniques of estimation, if appropriate.

(3) Not later than May 15 of each fiscal year, the Oregon Department of Administrative Services shall certify the amounts determined under subsection (1) of this section to the Department of Revenue, the Legislative Revenue Officer and the Legislative Fiscal Officer.

(4) Not sooner than July 10 and not later than July 15 of the following fiscal year, after receiving the certification under subsection (3) of this section, the Department of Revenue shall transfer an amount equal to 50 percent of the cumulative amount for all eligible projects determined under subsection (1) of this section to the Shared Services Fund established in ORS 285C.639 (Shared Services Fund).

(5) The Department of Revenue shall retain unreceipted revenue from the tax imposed under ORS chapter 316 in an amount necessary to make the transfer required under subsection (4) of this section. The department shall make the transfer out of the unreceipted revenue in lieu of paying the revenue over to the State Treasurer for deposit in the General Fund.

(6) The Oregon Department of Administrative Services shall adopt rules necessary to administer this section. [2007 c.905 §3; 2013 c.722 §50; 2013 c.763 §6]

Note: See note under 285C.615 (Annual participant reports).