Relating to enterprise zones; prescribing an effective date.
Catchline/Summary:
Extends sunset date of enterprise zone program. Extends sunset date of enterprise zone program.
Provides that agreement between zone sponsor and business firm seeking exemption may not become effective before 30 days following publication of terms of agreement on zone sponsor's website. Requires Oregon Business Development Department to provide technical assistance related to such agreements to zone sponsor upon request.
Directs Oregon Business Development Department, in consultation with Legislative Revenue Officer, to study transparency of enterprise zone programs and submit report of study findings to Legislative Assembly.
Requires zone sponsor to notify adjacent local governments of intention to enter into agreement with business firm that may increase use of infrastructure within those governments' boundaries.
Provides limitation on number of years for which property in enterprise zone may be exempt from property taxes imposed by school districts.
Subjects long term rural enterprise zone exemption statute to requirement that state agency report certain tax expenditure information to State Chief Information Officer for posting on Oregon transparency website.
Takes effect on 91st day following adjournment sine die.
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HB 2199 Joint Committee On Tax Expenditures
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