Relating to tax benefits; prescribing an effective date.
Catchline/Summary:
Expands definition of "funds of a public agency" to include dollar amount of tax credits or tax abatements for purposes of public contracting law. Expands definition of "funds of a public agency" to include dollar amount of tax credits or tax abatements for purposes of public contracting law.
Directs Oregon Business Development Department to adopt rules under which enterprise zone sponsor may promote manufacturing related to renewable and clean energy technology in zone.
Requires business firms to show compliance with respect to certain conditions related to labor and employment for eligibility for certain enterprise zone property tax exemption programs. Requires such business firms receiving property tax benefits with value above threshold and certain subcontractors to abide by additional conditions related to hiring and employment.
Requires person paying fee in lieu of property taxes on solar project property to agree that businesses performing work on solar project shall comply with certain conditions related to labor and employment.
Directs Oregon Business Development Department to create clean energy manufacturing initiative to promote clean energy manufacturing. Authorizes department to make loans to eligible business firms for such purpose. Establishes Oregon Clean Energy Manufacturing Initiative Fund to fund loans. Allocates moneys for deposit into fund.
Takes effect on 91st day following adjournment sine die.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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HB 2324 House Committee On Economic Recovery and Prosperity
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