(1) Upon receipt of information compiled under ORS 285C.615, 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.
(2) In determining the amount of personal income tax revenue attributable to each eligible project, the department may rely on reasonable techniques of estimation, if appropriate.
(3) In each fiscal year, the department shall transfer 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 286C.639.
(4) The department shall adopt rules necessary to administer this section. [2007 c.905 §3]
Note: See note under 285C.615.
Note: 285C.635 and 285C.639 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285C or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Section: Previous 285C.503 285C.506 285C.530 285C.533 285C.600 285C.603 285C.606 285C.609 285C.612 285C.615 285C.620 285C.623 285C.626 285C.635 285C.639 NextLast modified: August 7, 2008