(1) Pursuant to the procedures for a contested case under ORS chapter 183, the Environmental Quality Commission may order the revocation of the certification issued under ORS 468.466 of any investment, if it finds that:
(a) The certification was obtained by fraud or misrepresentation; or
(b) The holder of the certificate has failed substantially to operate the qualifying business as specified in such certificate.
(2) As soon as the order of revocation under this section has become final, the commission shall notify the Department of Revenue of such order.
(3) If the certification of an investment is ordered revoked pursuant to subsection (1)(a) of this section, all prior tax relief provided to the holder of such certificate by virtue of such certificate shall be forfeited and the Department of Revenue shall proceed to collect those taxes not paid by the certificate holder as a result of the tax relief provided to the holder under any provision of ORS 315.324.
(4) If the certification of an investment is ordered revoked pursuant to subsection (1)(b) of this section, the certificate holder shall be denied any further relief provided under ORS 315.324 in connection with such investment, as the case may be, from and after the date that the order of revocation becomes final. [Formerly 468.955]
Section: Previous 468.470 468.471 468.472 468.474 468.475 468.476 468.480 468.481 468.485 468.486 468.490 468.491 468.495 468.500 468.501 NextLast modified: August 7, 2008