Oregon § 285B.615 Oregon Business Retention and Expansion Program; purpose; agreements; contents; loans

Oregon Statutes

§ 285B.615 — Oregon Business Retention and Expansion Program; purpose; agreements; contents; loans

Oregon § 285B.615

Vol.7

Title 26AEconomic Development

Ch. 285BEconomic Development II

This text of Oregon § 285B.615 (Oregon Business Retention and Expansion Program; purpose; agreements; contents; loans) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 285B.615 (2026).

Text

(1)In consultation with the Department of Revenue, the Oregon Business Development Department shall establish and administer the Oregon Business Retention and Expansion Program. The purpose of the program is to provide forgivable loans to certified employers to allow for expanded operations and increased hiring.

(2)The Oregon Business Development Department shall enter into agreements with certified employers. Agreements must contain:

(a)Detailed performance measures, established by the department by rule, with which certified employers must comply; and

(b)The requirement that the certified employer pay to the Oregon Business Development Department the amount of any loan made under this section where the certified employer did not meet established performance measures.

(3)The total lo

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(1) In consultation with the Department of Revenue, the Oregon Business Development Department shall establish and administer the Oregon Business Retention and Expansion Program. The purpose of the program is to provide forgivable loans to certified employers to allow for expanded operations and increased hiring.
(2) The Oregon Business Development Department shall enter into agreements with certified employers. Agreements must contain:
(a) Detailed performance measures, established by the department by rule, with which certified employers must comply; and
(b) The requirement that the certified employer pay to the Oregon Business Development Department the amount of any loan made under this section where the certified employer did not meet established performance measures.
(3) The total loan amount distributed to a certified employer under this section may not exceed the total amount of the estimated incremental Oregon Business Retention and Expansion Program tax revenues for the certified employer.
(4) Moneys loaned under this section must be distributed to the certified employer no later than 120 days following certification under ORS 285B.605.