(2) An application for designation of a rural renewable energy development zone shall be in such form and shall contain such information as the Oregon Business Development Department prescribes by rule. The application shall include a copy of the resolution of the governing body of the city or each county that constitutes the applicant that states that the city or county seeks rural renewable energy development zone designation.
(3) The director shall approve designation of the territory of the applicant as a rural renewable energy development zone, excluding any territory of an applicant that is not within a rural area at the time of designation.
(4)(a) The designation of an area as a rural renewable energy development zone authorizes the exemption of up to an amount, determined as prescribed in paragraph (d) of this subsection, in real market value of property described in ORS 285C.359 that meets the requirements for exemption under ORS 285C.362.
(b) An applicant may seek subsequent additional designations under this section. An application for additional designation shall be made in the same manner as an application for initial designation, and shall be approved by the director if the application for additional designation meets the qualifications for designation under subsection (3) of this section.
(c) Each additional designation approved under this section authorizes the exemption of a new amount, determined as prescribed in paragraph (d) of this subsection, in real market value of property described in ORS 285C.359 that meets the requirements for exemption under ORS 285C.362.
(d) Each amount authorized for exemption under this section shall be determined as follows:
(A) The amount shall be set forth in the resolution described in subsection (2) of this section.
(B) If no amount is specified in the resolution described in subsection (2) of this section, the amount shall be $250 million.
(C) The amount may not exceed $250 million for any single designation under this section.
(D) The amount applies only to exemptions first claimed for a tax year that begins after January 1 following the date of adoption of the resolution described in subsection (2) of this section.
(5) If an application for designation was made by one city or county, that city or county shall serve as sponsor of the rural renewable energy development zone. If the application for designation was made by two or more counties, the application shall identify which county shall serve as the sponsor of the zone. [2003 c.662 §70; 2005 c.595 §4; 2007 c.739 §9a]
Structure 2021 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 285C - Economic Development III
Section 285C.050 - Definitions for ORS 285C.050 to 285C.250.
Section 285C.060 - Duties of Oregon Business Development Department; rules.
Section 285C.066 - Department may adopt certain rules.
Section 285C.067 - Consultation with local taxing districts; rules.
Section 285C.068 - Port cosponsorship of zones.
Section 285C.085 - Federal enterprise zones.
Section 285C.090 - Requirements for area to be designated zone; exception.
Section 285C.105 - Duties of zone sponsor.
Section 285C.115 - Change of zone boundaries; positive determination by department required.
Section 285C.125 - Duties of Department of Revenue; rules.
Section 285C.130 - Duties of county assessor.
Section 285C.135 - Requirements for eligibility.
Section 285C.150 - Conditions required by sponsor for authorization; reports.
Section 285C.155 - Minimum employment and other requirements for authorization.
Section 285C.165 - Extension of period of authorization; filing fee.
Section 285C.170 - Construction-in-process exemption.
Section 285C.175 - Enterprise zone exemption; requirements; duration.
Section 285C.180 - Qualified property generally.
Section 285C.200 - Qualifications of business firm; rules.
Section 285C.210 - Substantial curtailment of business operations.
Section 285C.215 - First-source hiring agreements; rules.
Section 285C.220 - Exemption claims; contents; late filing; fees.
Section 285C.225 - Sponsor’s addendum; property schedule; amendments.
Section 285C.230 - Assessor to grant or deny exemption; assistance of sponsor.
Section 285C.235 - Authority of county assessor; authority of sponsor.
Section 285C.245 - Termination; effect of termination on property; procedures.
Section 285C.250 - Redesignation or designation of new zone following zone termination.
Section 285C.255 - Sunset of enterprise zone program.
Section 285C.300 - Definitions for ORS 285C.300 to 285C.320.
Section 285C.306 - Reservation enterprise zones and reservation partnership zones.
Section 285C.320 - Status of reservation enterprise zone and reservation partnership zone; sponsor.
Section 285C.350 - Definitions for ORS 285C.350 to 285C.370.
Section 285C.356 - Application for authorization.
Section 285C.359 - Qualified property.
Section 285C.362 - Exemption; requirements; duration.
Section 285C.400 - Definitions for ORS 285C.400 to 285C.420.
Section 285C.403 - Certification of business firm; application; review; appeal.
Section 285C.406 - Claiming property tax exemption or income tax credit.
Section 285C.409 - Property tax exemption; requirements; duration.
Section 285C.412 - Conditions for continued exemption.
Section 285C.420 - Disqualification; exception; additional taxes.
Section 285C.500 - Definitions for ORS 285C.500 to 285C.506.
Section 285C.503 - Preliminary certification of facility; application; fee; review; appeal.
Section 285C.540 - Definitions for ORS 285C.540 to 285C.559.
Section 285C.543 - Rules; criteria for renewable energy resource equipment manufacturing facilities.
Section 285C.545 - Annual limit to cost of facility in granting tax credits; discretion of director.
Section 285C.547 - Application for preliminary certification; eligibility; contents; fees; rules.
Section 285C.549 - Transferability of facility tax credit.
Section 285C.559 - Revocation of certificate; collection.
Section 285C.600 - Definitions for ORS 285C.600 to 285C.635.
Section 285C.612 - Eligible project application fees.
Section 285C.615 - Annual participant reports; penalty; disclosure; rules.
Section 285C.623 - Strategic investment zones; establishment; fees.
Section 285C.626 - Business firm application for project within strategic investment zone.
Section 285C.653 - Tax credit utilization limit per tax year; rules.
Section 285C.656 - Suspension or revocation of certificate; recapture of tax credit.
Section 285C.659 - Report; posting on Oregon transparency website required.