(1) The qualified property of an authorized business firm may be exempt from property tax under ORS 285C.175 only if the firm enters into a first-source hiring agreement for the period of property tax exemption. The agreement must be executed prior to the assessment date for the first tax year for which qualified property of the firm is exempt under ORS 285C.175 and must expire no sooner than December 31 of the final year of the exemption.
(2)(a) If a firm has not entered into a first-source hiring agreement when qualified property of the firm is first placed in service, as of April 1 preceding the first tax year for which the authorized business firm claims an exemption for qualified property under ORS 285C.175, the sponsor shall inform the county assessor that an agreement under this section has not been executed.
(b) A publicly funded job training provider having knowledge of the date when qualified property of the firm is first placed in service may also inform the county assessor that an agreement under this section has not been executed.
(3) In accordance with rules adopted by the Economic and Community Development Department, the Director of the Economic and Community Development Department may waive the requirements of subsection (1) of this section for an authorized business firm. The rules adopted by the department shall provide for a waiver under this subsection when the director finds that:
(a) The business firm is unable to employ persons referred under the agreement; or
(b) The waiver would further the goals and purposes of applicable state policies. [Formerly 285B.710]
(Exemption Claim and Verification Procedures)
Section: Previous 285C.180 285C.185 285C.190 285C.195 285C.200 285C.205 285C.210 285C.215 285C.220 285C.225 285C.230 285C.235 285C.240 285C.245 285C.250 NextLast modified: August 7, 2008