(1) The Legislative Assembly finds that the standard procedure for authorization in an enterprise zone inappropriately deters development or redevelopment of qualified buildings on speculation for subsequent sale or lease to eligible business firms.
(2) Notwithstanding ORS 285C.140 (Application for authorization) (1), a new building or structure or an addition to or modification of an existing building or structure may qualify for the exemption allowed under ORS 285C.175 (Enterprise zone exemption) if the qualified property is leased or sold by an unrelated party to one or more authorized business firms after commencement of the construction, addition or modification but prior to use or occupancy of the qualified property.
(3) A business firm may not be considered authorized and is not qualified for the exemption allowed under ORS 285C.175 (Enterprise zone exemption) if the county assessor discovers prior to initially granting the exemption that the application for authorization was not submitted by the business firm in a timely manner in accordance with ORS 285C.140 (Application for authorization), except as allowed under subsection (2) of this section or ORS 285C.140 (Application for authorization) (11) and (12).
(4) Records, communications or information submitted to a public body by a business firm for purposes of ORS 285C.050 (Definitions for ORS 285C.050 to 285C.250) to 285C.250 (Redesignation or designation of new zone following zone termination) that identify a particular qualified property, that reveal investment plans prior to authorization, that include the compensation the firm provides to firm employees, that are described in ORS 192.502 (Other public records exempt from disclosure) (17) or that are submitted under ORS 285C.225 (Sponsors addendum) or 285C.235 (Authority of county assessor) are exempt from disclosure under ORS 192.410 (Definitions for ORS 192.410 to 192.505) to 192.505 (Exempt and nonexempt public record to be separated) and, as appropriate, shall be shared among the county assessor, the zone sponsor, the Department of Revenue and the Oregon Business Development Department. [Formerly 285B.701; 2007 c.152 §3]