Title 26A, Economic Development

For purposes of ORS 285B.410 to 285B.482, the allowable costs of a project include: (1) Financing costs, including capitalized interest; (2) Direct project management costs; (3) Costs of consultant services and expenses; (4) Construction costs and expenses; (5) Costs of property …

(1) The Oregon Infrastructure Finance Authority shall determine eligibility for revenue bond financing under ORS 285B.467 to 285B.479 of development projects that have qualified under ORS 285B.419 to 285B.437 and 285B.449 pursuant to rules adopted by the Oregon Business Developme…

The Oregon Infrastructure Finance Authority may: (1) Make all contracts, execute all instruments and do all things necessary or convenient in the exercise of the powers granted by this section, or in the performance of its covenants or duties, or in order to secure the payment of…

(1) At the request of the Oregon Business Development Department, the State Treasurer may issue under ORS 285B.467 to 285B.479 and ORS chapter 286A revenue bonds secured by moneys paid to the Special Public Works Fund pledged therefor to finance or refinance in whole or part the …

(1) ORS 285B.350 to 285B.362 and 285B.368 apply to revenue bonds issued under ORS 285B.467 to 285B.479. (2) The proceeds of revenue bonds issued and sold under ORS 285B.467 to 285B.479 shall be deposited in the Special Public Works Fund and used for the payment of a loan to a mun…

(1) Revenue bonds issued under ORS 285B.467 to 285B.479: (a) May not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, except as provided in this section, nor shall the state be subject to any liability thereon. No holder or holders…

(1) Notwithstanding any other law relating to revenue bonds issued and sold under ORS 285B.467 to 285B.479 or ORS 285B.572, 285B.575 and 285B.578, revenue bonds may be issued and sold as parity bonds. (2) Proceeds of revenue bonds issued and sold under ORS 285B.467 to 285B.479 or…

(1) The Legislative Assembly finds that: (a) It is a matter of statewide importance to increase the infrastructure capacity of Coos, Jackson and Josephine Counties and the rest of southern Oregon. (b) The absence of such infrastructure capacity, the lack of inexpensive industrial…

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Oregon Unified International Trade Fund. Interest earned by the Oregon Unified International Trade Fund shall be credited to the fund. The moneys in the fund are continuously appropri…

(1) The administrator of the Oregon Infrastructure Finance Authority shall enter into a grant agreement with the primary sponsor of a project listed in ORS 285B.503 that commits the State of Oregon to make the deposits specified in section 9, chapter 644, Oregon Laws 1997, and co…

The primary sponsors of projects listed in ORS 285B.503 are authorized to enter into agreements with agencies of the United States for the project and, notwithstanding any other provision of law, may each agree to be bound by any requirement imposed by an Act of the United States…

(1) The deposit of unobligated net lottery proceeds to an account in the Oregon Unified International Trade Fund shall cease if and when the administrator of the Oregon Infrastructure Finance Authority certifies in writing that deposits are no longer required because: (a) Suffici…

As used in ORS 285B.500 to 285B.512 and section 9, chapter 644, Oregon Laws 1997, “primary sponsor” or “project sponsor” means a city, county, agency or person who acts as a financial contributor to a project listed in ORS 285B.503, as determined by the Oregon Infrastructure Fina…

As used in ORS 285B.530 to 285B.548, unless the context requires otherwise: (1) “Infrastructure lottery bonds” means the bonds authorized to be issued under ORS 285B.533 for the purpose of financing infrastructure projects. (2) “Infrastructure projects” includes: (a) A water proj…

(1) Infrastructure lottery bonds shall be issued under ORS 286A.560 to 286A.585 only at the request of the Director of the Oregon Business Development Department. Infrastructure lottery bonds may be issued in an amount sufficient to provide no more than $6 million of net proceeds…

Infrastructure lottery bonds may not be issued in excess of the amounts permitted by ORS 286A.035. [1997 c.800 §22; 2007 c.783 §106] Note: See note under 285B.530.

(1) Pursuant to ORS 286A.560 to 286A.585, at the request of the Oregon Department of Administrative Services, after the department consults with the Oregon Business Development Department, the State Treasurer is authorized to issue lottery bonds: (a) To provide financial and othe…

As used in ORS 285B.560 to 285B.599: (1) “Direct project management costs” means new expenses incurred by a municipality solely to support, plan for and manage an infrastructure project, funded in whole or in part through financial assistance under ORS 285B.560 to 285B.599, durin…

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Water Fund. Interest earned by the Water Fund shall be credited to the fund. All moneys in the Water Fund are continuously appropriated to the Oregon Business Development Department f…

All payments, receipts and interest from financial awards made for water projects shall be retained and accumulated in the Water Fund and used to finance water projects including payments to holders of revenue bonds issued under ORS 285B.575. [Formerly 285.760]

If moneys are transferred to the Water Fund from the sources described in ORS 285B.563 (5)(b) to (e), all constitutional restrictions, statutes and rules regulating the use of the moneys transferred from these funds shall apply to the use of those moneys in the Water Fund. [Forme…

(1) The Oregon Infrastructure Finance Authority shall determine eligibility of a water project for revenue bond financing under ORS 285B.560 to 285B.599 pursuant to rules adopted by the Oregon Business Development Department. (2) Upon determining that a water project is eligible …

(1) At the request of the Oregon Business Development Department, the State Treasurer may issue in the name of the State of Oregon revenue bonds secured by moneys paid to the Water Fund and pledged to finance or refinance in whole or in part the cost of a water project. The reven…

(1) Revenue bonds issued under ORS 285B.575: (a) Shall not be payable from nor charged upon any fund other than the revenue pledged to the payment of the revenue bonds, except as provided in this section, nor shall the state be subject to any liability on the bonds. No holder of …

(1) Any loan of moneys to a municipality by the state shall include a plan for repayment by the municipality of moneys borrowed from the Water Fund for a water project and interest on those moneys at a rate expressly specified. The repayment plan: (a) Shall provide for evidence o…

The Oregon Infrastructure Finance Authority may: (1) Make all contracts, execute all instruments and do all things necessary or convenient for the exercise of the powers granted by this section, or for the performance of its covenants or duties, or in order to secure the payment …

(1) Proceeds of revenue bonds issued and sold under ORS 285B.572 to 285B.578 that are to be used to fund loans to municipalities for water projects shall be deposited in the Water Fund. (2) Proceeds of revenue bonds issued and sold under ORS 285B.572 to 285B.578 that are to be us…

In addition to making loans to municipalities for water projects, the Oregon Infrastructure Finance Authority may provide any other form of financial or other assistance that the authority may consider appropriate to assist municipalities with water projects, including direct pur…

Out of the moneys in the Water Fund, the Oregon Infrastructure Finance Authority may make technical assistance grants and loans to municipalities as specified by the Oregon Business Development Department by rule. Technical assistance grants and loans shall be for the purpose of …

Not less than 60 percent of the grants awarded from the Water Fund shall be used to provide assistance to distressed area or nonurban water projects. [Formerly 285.966; 2001 c.883 §39b; 2003 c.773 §52]

(1) If a municipality fails to comply with a contract entered into under ORS 285B.581, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Water Fund. If any municipality defaults on payments due the fund, the State of Or…

As used in ORS 285B.600 to 285B.620: (1) “Certified employer” means an eligible employer certified under ORS 285B.605. (2) “Compensation” has the meaning given that term in ORS 314.610. (3) “Eligible employee” means a new full-time employee who is paid qualifying compensation and…

The Oregon Business Development Department may adopt rules that the department determines are necessary to: (1) Further define the terms defined in ORS 285B.600 in a manner consistent with ORS 285B.600; (2) Implement the duties of the department under ORS 285B.600 to 285B.620; an…

(1) Subject to standards and procedures that the Oregon Business Development Department shall establish by rule, the department shall certify eligible employers to participate in the Oregon Business Retention and Expansion Program established in ORS 285B.615. The department may e…

(1) An employer may apply to the Oregon Business Development Department for certification under ORS 285B.605. (2) The application shall be made in writing in a form prescribed by the department. (3) The application must include a verified statement by the employer that the employ…

(1) The Oregon Business Development Department may revoke a certificate issued under ORS 285B.605 if the department finds that: (a) The certificate was obtained by fraud or misrepresentation; or (b) The certified employer fails to meet the requirements of ORS 285B.605. (2) If the…

(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 expande…

The Director of the Oregon Business Development Department, in consultation with the Director of the Department of Revenue, shall: (1) Specify the methodology for estimating incremental Oregon Business Retention and Expansion Program tax revenues; and (2) Estimate incremental Ore…

The Oregon Business Retention and Expansion Program Fund is established in the State Treasury, separate and distinct from the General Fund. The Oregon Business Retention and Expansion Program Fund consists of amounts deposited in the fund as required by section 9, chapter 549, Or…

(1) The Oregon Business Development Department may transfer moneys credited to the Strategic Reserve Fund created under ORS 285B.266 to the Oregon Business Retention and Expansion Program Fund established under ORS 285B.620, to be used for the purpose of making the loans provided…

The Legislative Assembly finds that: (1) Traded sector industries are the foundation of state and regional economic development strategies for long-term prosperity and job creation. Because traded sector jobs typically pay higher than average wages and generate higher than averag…

As used in ORS 285B.625 to 285B.632: (1) “Eligible employer” means an employer that: (a) Is conducting a traded sector business on a regionally significant industrial site; and (b)(A) With respect to the employer’s establishment at a rural site, has increased average annual emplo…

(1) In consultation with the Department of Revenue, the Oregon Business Development Department shall establish and administer the Oregon Industrial Site Readiness Program. The purpose of the program is to: (a) Enter into tax reimbursement arrangements with qualified project spons…

(1) On or before April 1 of each tax year following the first tax year in which an employee of an eligible employer on a regionally significant industrial site designated under ORS 285B.627 will be required to pay personal income taxes under ORS chapter 316, the Oregon Business D…

The Oregon Industrial Site Readiness Program Fund is established in the State Treasury, separate and distinct from the General Fund. The Oregon Industrial Site Readiness Program Fund consists of amounts deposited in the fund and other moneys transferred to the fund, including but…

The Legislative Assembly finds that: (1) A competitive supply of market-ready regionally significant industrial sites is critical to the expansion and recruitment of traded sector industries in this state. (2) Traded sector industries are the foundation of state and regional econ…