Oregon § 285C.420 Disqualification; exception; additional taxes

Oregon Statutes

§ 285C.420 — Disqualification; exception; additional taxes

Oregon § 285C.420

Vol.7

Title 26AEconomic Development

Ch. 285CEconomic Development III

This text of Oregon § 285C.420 (Disqualification; exception; additional taxes) 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. § 285C.420 (2026).

Text

(1)If a certified business firm does not begin operations or is not reasonably expected to begin operations, as determined by the county assessor consistent with criteria established by rule of the Department of Revenue, or fails to meet the minimum requirements set forth in ORS 285C.412 or the requirements under ORS 285C.415 (3)(a), while receiving an exemption under ORS 285C.409 (1)(c), the assessor shall, as of the next tax year, disqualify the property from the exemption.

(2)(a) If a certified business firm that has achieved the minimum applicable full-time hiring requirements and annual average wage requirements at a facility under ORS 285C.412 subsequently fails to maintain the applicable minimum number of full-time employees or the minimum annual average compensation level at the f

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(1) If a certified business firm does not begin operations or is not reasonably expected to begin operations, as determined by the county assessor consistent with criteria established by rule of the Department of Revenue, or fails to meet the minimum requirements set forth in ORS 285C.412 or the requirements under ORS 285C.415 (3)(a), while receiving an exemption under ORS 285C.409 (1)(c), the assessor shall, as of the next tax year, disqualify the property from the exemption.
(2)(a) If a certified business firm that has achieved the minimum applicable full-time hiring requirements and annual average wage requirements at a facility under ORS 285C.412 subsequently fails to maintain the applicable minimum number of full-time employees or the minimum annual average compensation level at the facility, the assessor shall disqualify the facility from exemption under ORS 285C.409.
(b) This subsection does not apply if the decrease in hiring or in annual average compensation is caused by circumstances beyond the control of the business firm, including force majeure.
(3) Upon disqualification, there shall be added to the tax extended against the property on the next general property tax roll, to be collected and distributed in the same manner as the remainder of ad valorem property taxes, an amount equal to the taxes that would otherwise have been assessed against the property and improvements for each of the tax years for which the property was exempt under ORS 285C.409.
(4) The additional taxes described in this section shall be deemed assessed and imposed in the year to which the additional taxes relate.