reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.533 - Issuance of infrastructure lottery bonds; amount; use of bond proceeds.

(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 to pay costs of infrastructure projects, plus the amounts required to pay bond-related costs.
(2) The net proceeds from the sale of the infrastructure lottery bonds shall be allocated to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority for the State of Oregon’s match of federal moneys under the Safe Drinking Water Act.
(3) The net proceeds from the sale of the infrastructure lottery bonds that are available to pay costs of infrastructure projects shall be credited to the Water Fund created by ORS 285B.563. All such net proceeds are appropriated continuously to the Oregon Business Development Department for the authority only for payment of costs of infrastructure projects described in subsection (2) of this section and for payment of bond-related costs that are allocable to infrastructure lottery bonds.
(4) The authority and any municipality receiving proceeds of infrastructure lottery bonds shall, if so directed by the Oregon Department of Administrative Services, take any action specified by the Oregon Department of Administrative Services that is necessary to maintain the excludability of lottery bond interest from gross income under the United States Internal Revenue Code. [1997 c.800 §17; 1999 c.44 §25; 2007 c.783 §105a; 2009 c.830 §114]
Note:
See note under 285B.530.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.548 - Amount of infrastructure lottery bonds.

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.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.560 - Definitions for ORS 285B.560 to 285B.599.

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, during the planning and construction phases of the project.
(2) "Fund" means the Water Fund.
(3) "Municipality" has the meaning given that term in ORS 285B.410.
(4) "Safe drinking water project" means a project for constructing or improving a drinking water system or a water development project, as defined in ORS 541.700 (6)(a), (b) and (d) to (f), that is owned and operated by a municipality.
(5) "Waste water system improvement project" means a project for constructing or improving a system for waste water collection or treatment, including storm drainage systems.
(6) "Water project" means a safe drinking water project or a waste water system improvement project. [Formerly 285.755; 2001 c.883 §36; 2009 c.830 §121]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.569 - When constitutional restrictions apply to use of certain funds.

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. [Formerly 285.763]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.572 - Eligibility of project for revenue bond financing; rules; decision to issue bonds.

(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 for revenue bond financing, the authority shall forward a description of the project to the State Treasurer. The State Treasurer shall determine whether to issue revenue bonds. [Formerly 285.950; 2009 c.830 §123]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.575 - Issuance of revenue bonds.

(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 revenue bonds issued under this section shall be issued in the manner prescribed by ORS chapter 286A, and refunding bonds may be issued to refinance the revenue bonds.
(2) The department or the State Treasurer may appoint bond counsel as prescribed under ORS 286A.130. [Formerly 285.952; 2001 c.536 §3; 2003 c.794 §242; 2007 c.783 §108; 2009 c.830 §124]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.578 - Nature of revenue bonds.

(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 revenue bonds shall ever have the right to compel any exercise of the taxing power of the state to pay any such bonds or the interest on the bonds, nor to enforce payment of the bonds against any property of the state except those moneys pledged in the Water Fund, under the provisions of ORS 285B.560 to 285B.599.
(b) Shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the state, except those moneys paid to the Water Fund.
(2) A revenue bond issued under ORS 285B.575 shall not constitute a debt of the state or a lending of the credit of the state within the meaning of any constitutional or statutory limitation. [Formerly 285.954; 2001 c.883 §38]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.581 - Repayment plans; required provisions; loan contract; sources for repayment.

(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 of debt assurance of, and security for, repayment by the municipality as is considered necessary by the Oregon Infrastructure Finance Authority.
(b) May set forth the allocation of special assessments or contractual responsibilities among the owners of benefited properties for repayment to the municipality of the amount of the loan.
(c) May not exceed the usable life of the contracted project or 30 years from the year of project completion, whichever is less.
(2) Notwithstanding any other provision of law or any restriction on indebtedness contained in a charter, a municipality may borrow from the fund by entering into a loan contract with the authority. The contract may be repaid from:
(a) The revenues of any water project, including special assessment revenues;
(b) Amounts withheld under ORS 285B.599;
(c) The general fund of the municipality; or
(d) Any other source.
(3) A loan contract authorized under subsection (2) of this section may provide that a portion of the proceeds of the loan be applied to fund a reserve fund to secure the repayment of the loan or secure the repayment of revenue bonds issued to fund the loan.
(4) A loan contract authorized under subsection (2) of this section shall be authorized by an ordinance, order or resolution adopted by the governing body of the municipality. [Formerly 285.956; 2001 c.883 §39; 2005 c.835 §22; 2009 c.830 §125; 2013 c.404 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.584 - Powers of authority.

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 of its bonds;
(2) Enter into and perform such contracts and agreements with municipalities as the authority may consider proper and feasible for or concerning the planning, construction, installation, lease or other acquisition, and the financing of water projects; and
(3) Enter into covenants for the benefit of bond owners regarding the use and expenditure of moneys in the Water Fund. [Formerly 285.958; 2007 c.783 §109; 2009 c.830 §126]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.587 - Deposit and use of bond proceeds.

(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 used to pay the costs of issuing the revenue bonds or that are to be applied to fund a reserve fund for the revenue bonds shall be deposited either in the Water Fund or in a trust account or fund held by any trustee for the revenue bonds. Moneys on deposit in the Water Fund may be transferred to any trustee for the revenue bonds to be applied to the payment of the costs of issuing the revenue bonds or to be applied to fund a reserve fund for the revenue bonds. [Formerly 285.960]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.590 - Other forms of financial assistance.

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 purchase by the authority of goods and services related to a water project. [Formerly 285.962; 2001 c.883 §39a; 2009 c.830 §127]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.593 - Technical assistance grants and loans; uses; rules.

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 completing preliminary planning, legal, fiscal and economic investigations, reports and studies to determine the economic and engineering feasibility of water projects. [Formerly 285.964; 2003 c.773 §51; 2009 c.830 §128]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.596 - Funding of distressed area or nonurban water projects.

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]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.599 - Effect of failure to repay to Water Fund; default.

(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 Oregon may withhold any amounts otherwise due the municipality to apply to the indebtedness. The department may waive the right to withhold moneys under this subsection.
(2) Moneys withheld under subsection (1) of this section shall be deposited in the fund and shall be used to repay any account in the fund from which funds were expended to pay obligations upon which the municipality defaulted. [Formerly 285.968; 2009 c.830 §129]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.600 - Definitions for ORS 285B.600 to 285B.620.

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 is hired by a certified employer after the employer is certified under ORS 285B.605.
(4) "Eligible employer" means an employer that, in the month in which the employer submits an application under ORS 285B.608:
(a) Has at least 150 employees;
(b) Plans to hire at least 50 eligible employees in this state;
(c) Operates in an industry in the traded sector, as that term is defined in ORS 285A.010; and
(d) Is not a retailer, as that term is defined in ORS 72.8010.
(5) "Estimated incremental Oregon Business Retention and Expansion Program tax revenues" means the Oregon personal income tax revenues that are estimated pursuant to ORS 285B.618 to be substantially equivalent to the amount of tax that eligible employees of an eligible employer will be required to pay under ORS chapter 316 as a result of qualifying compensation paid to the eligible employees by the eligible employer in the two consecutive tax years beginning with the tax year following the tax year in which the employer receives certification under ORS 285B.605.
(6) "Qualifying compensation" means:
(a) Compensation that averages at least 150 percent of the lesser of the county or state average annual per employee compensation; or
(b) If the employees are to be hired in a county that is outside all metropolitan statistical areas, as defined by the most recent federal decennial census, compensation that averages at least 130 percent of the lesser of the county or state average annual per employee compensation. [2011 c.549 §1; 2017 c.610 §31]
Note:
285B.600 to 285B.620 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.602 - Rules.

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; and
(3) Carry out the purposes of ORS 285B.600 to 285B.620. [2011 c.549 §2]
Note:
See note under 285B.600.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.605 - Certification of eligible employers; time period to approve application.

(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 establish certification standards regarding:
(a) Employers maintaining certain levels of payroll or per-employee compensation including benefits;
(b) Employers consulting with vendors in this state before entering into contracts;
(c) Eligible employers not laying off current employees in order to achieve hiring goals;
(d) Specifying the types and amounts of employer expenses that are the reasonable costs of financing, developing, furnishing and operating a facility to be used by the certified employer in the course of business under ORS 285B.615; and
(e) Verifying that an employer is an eligible employer.
(2) The department must approve or deny an application submitted under ORS 285B.608 within 120 days after the date a complete application is filed. [2011 c.549 §3]
Note:
See note under 285B.600.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.608 - Application for certification; requirements.

(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 employer would not plan on hiring 50 or more new full-time employees in this state but for the availability of the loans provided by the Oregon Business Retention and Expansion Program established under ORS 285B.615. [2011 c.549 §4]
Note:
See note under 285B.600.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.610 - Revocation of certificate.

(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 certificate is revoked pursuant to subsection (1) of this section, the department shall proceed to recoup any loan moneys disbursed to the employer pursuant to ORS 285B.615. [2011 c.549 §5]
Note:
See note under 285B.600.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.615 - Oregon Business Retention and Expansion Program; purpose; agreements; contents; loans.

(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. [2011 c.549 §6]
Note:
See note under 285B.600.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.618 - Department estimate of program tax revenues; methodology.

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 Oregon Business Retention and Expansion Program tax revenues. [2011 c.549 §7]
Note:
See note under 285B.600.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.620 - Oregon Business Retention and Expansion Program Fund; sources; uses.

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, Oregon Laws 2011, and other moneys transferred to the fund. Amounts in the fund are continuously appropriated to the Oregon Business Development Department for the purposes of making the loans provided by the agreements entered into under ORS 285B.615 and paying the costs and expenses of the Oregon Business Development Department in connection with the implementation and administration of ORS 285B.600 to 285B.620. [2011 c.549 §8]
Note:
See note under 285B.600.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.622 - Transfer of moneys from Strategic Reserve Fund.

(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 by the agreements entered into under ORS 285B.615, and in accordance with the provisions of ORS 285B.600 to 285B.620.
(2) Unless approved by the Joint Committee on Ways and Means or, if the Legislative Assembly is not in session, the Emergency Board, administrative expenses of the Oregon Business Development Department incurred in connection with the implementation and administration of ORS 285B.600 to 285B.620 may not be paid from funds transferred pursuant to this section. Expenses that are project-related are not considered to be administrative expenses of the department. [2013 c.572 §2]
Note:
285B.622 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.625 - Legislative findings.

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 average income tax revenues, such jobs play an important role in supporting critical state services.
(2) Industrial development that provides new traded sector jobs reinforces the economies of local and regional communities and contributes to the economic recovery of the State of Oregon.
(3) There is a shortage of market-ready regional industrial sites in this state. Project sponsors have limited financial tools to facilitate development of significant and complex industrial sites that are appropriate for traded sector industrial use.
(4) Public assistance is necessary to overcome development-related constraints and to incentivize industrial site development in this state.
(5) The State of Oregon has a significant interest in the success of regional economic development strategies and is the primary beneficiary of such economic development through increased income tax revenues. These revenues should be shared and invested in facilitating significant site development for traded sector industrial use in this state. [2013 c.763 §1; 2017 c.561 §1]
Note:
285B.625 to 285B.632 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.630 - Department to obtain employment and wage information for eligible employers at regionally significant industrial sites and determine estimated incremental income tax revenues; transfer of certified amounts to fund; rules.

(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 Development Department shall obtain employment and wage information for the eligible employer at the regionally significant industrial site.
(2) After obtaining the employment and wage information described in subsection (1) of this section, the Oregon Business Development Department shall determine the annual amount of estimated incremental income tax revenues generated by an eligible employer per tax year.
(3) In determining the amount of estimated incremental income tax revenues generated by an eligible employer under this section, the Oregon Business Development Department may rely on reasonable techniques of estimation, if appropriate.
(4) Not later than May 15 of each year, the Oregon Business Development Department shall request that the Oregon Department of Administrative Services certify the amounts determined under subsection (2) of this section to the Department of Revenue, the Legislative Revenue Officer and the Legislative Fiscal Officer.
(5) Not later than June 15 of each year, after receiving the certification under subsection (4) of this section, the Department of Revenue shall transfer to the Oregon Industrial Site Readiness Program Fund established in ORS 285B.632 an amount equal to 50 percent of the amount of estimated incremental income tax revenues certified under subsection (4) of this section, not to exceed the amount of eligible site preparation costs, including interest, established under ORS 285B.627 (7).
(6) The Department of Revenue shall retain unreceipted revenue from the tax imposed under ORS chapter 316 in an amount necessary to make the transfers required under subsection (5) of this section. The department shall make the transfers out of the unreceipted revenue in lieu of paying the revenue over to the State Treasurer for deposit in the General Fund.
(7) The Oregon Business Development Department shall adopt rules necessary to administer this section. The Department of Revenue may adopt rules necessary to administer this section. [2013 c.763 §4; 2017 c.561 §4]
Note:
See note under 285B.625.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.632 - Oregon Industrial Site Readiness Program Fund; sources; uses.

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 not limited to moneys transferred by the Department of Revenue to the fund under ORS 285B.630. Amounts in the fund are continuously appropriated to the Oregon Business Development Department for the purposes of entering into tax reimbursement arrangements and making loans under ORS 285B.627 and paying the costs and expenses of the Oregon Business Development Department in connection with the implementation and administration of ORS 285B.625 to 285B.632. [2013 c.763 §5]
Note:
See note under 285B.625.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.635 - Legislative findings.

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 economic development strategies for long-term prosperity and job creation.
(3) There is a shortage of market-ready regionally significant industrial sites in this state and limited financial tools and developers available to facilitate the development of regionally significant industrial sites in this state.
(4) Financial assistance is required to facilitate the determination of necessary actions, costs and development-related constraints involved in ensuring the availability of a competitive supply of market-ready regionally significant industrial sites suitable for industrial use and development in this state. [2013 c.764 §1]
Note:
285B.635 to 285B.642 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.640 - Oregon Industrial Site Readiness Assessment Program Fund; sources; uses.

The Oregon Industrial Site Readiness Assessment Program Fund is established in the State Treasury, separate and distinct from the General Fund. The Oregon Industrial Site Readiness Assessment Program Fund consists of moneys appropriated, allocated, deposited or transferred to the fund by the Legislative Assembly and interest earned on moneys in the fund. Amounts in the fund are continuously appropriated to the Oregon Business Development Department for the purposes of making grants under ORS 285B.637 and to implement and administer ORS 285B.635 to 285B.640. Interest earned on the fund shall be deposited into the fund. [2013 c.764 §4]
Note:
See note under 285B.635.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.642 - Findings in furtherance of economic development.

The Legislative Assembly finds that the implementation and administration of the Oregon Industrial Site Readiness Assessment Program under ORS 285B.635 to 285B.640 will further economic development by facilitating the development of regionally significant industrial sites that are market-ready in this state. [2013 c.764 §5]
Note:
See note under 285B.635.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.650

[Formerly 285.560; 1999 c.460 §1; 2001 c.684 §20; 2001 c.957 §1; 2003 c.662 §14; renumbered 285C.050 in 2003]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.651 - Definitions for ORS 285B.651 to 285B.676.

As used in ORS 285B.651 to 285B.676, unless the context clearly requires another meaning:
(1) "City" means a city, town or other community located in this state with a population of 2,500 or less.
(2) "District association" means Oregon’s Economic Development Districts, an organization consisting of member districts designated by the United States Economic Development Administration.
(3) "Grant administrator" means a person that provides fiscal administration, grant compliance, grant reporting and other similar administrative services required by grant-awarding entities.
(4) "Member district" means a district that is a member of Oregon’s Economic Development Districts.
(5) "Rural area" means an area located in this state that is entirely outside the acknowledged Portland Metropolitan Area Regional Urban Growth Boundary and the acknowledged urban growth boundaries of all cities with populations of 30,000 or more.
(6) "Rural capacity builder" means a person that assists communities in rural areas:
(a) To determine local priorities for community and economic development;
(b) To develop tools, processes and partnerships to address local needs; or
(c) By providing grant writing services.
(7) "Rural county" means a county of this state with a population of 12,000 or less.
(8) "Rural grant services" means assistance to communities in rural areas in:
(a) Identifying funding opportunities to meet community and economic development needs; and
(b) Applying for grants.
(9) "Rural jurisdictions" means:
(a) Rural counties; and
(b) Federally recognized Indian tribes, cities, school districts and special districts located in rural areas. [2021 c.614 §1]
Note:
285B.651 to 285B.676 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.655 - Distributions to assist rural jurisdictions with applications for funding.

(1) The Oregon Business Development Department shall distribute moneys in the Oregon Rural Capacity Fund established under ORS 285B.676 to provide resources to Oregon’s Economic Development Districts for the purposes of assisting rural jurisdictions to learn about, successfully apply for and administer grants and other forms of funding available from any public or private source. The rural jurisdictions shall use such resources solely to attain the staffing and financial and technical capacity necessary to carry out proactive strategies for workforce, infrastructure, economic and community development in the rural jurisdictions.
(2) The district association shall assist, or provide for assistance to, rural jurisdictions by means that include, but are not limited to:
(a) Outreach to the rural jurisdictions about grants and other forms of funding;
(b) Employment of grant writers or grant administrators to directly assist the rural jurisdictions in applying for grants and other forms of funding;
(c) Direct assistance in administering grants awarded to the rural jurisdictions; and
(d) Working with state agencies to coordinate investments in water and sewer systems, roads and other elements of basic infrastructure needed in cities in rural areas. [2021 c.614 §2]
Note:
See note under 285B.651.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.660 - Oregon Business Development Department to develop policy for distributions, work with district association, oversee rural grant services.

The Oregon Business Development Department shall:
(1) Develop the policy guiding the implementation of ORS 285B.651 to 285B.676.
(2) Communicate the policy and the purposes set forth in ORS 285B.655 to underserved rural jurisdictions.
(3) Determine the amount of moneys available for distribution to Oregon’s Economic Development Districts under ORS 285B.655.
(4) Consult and coordinate with the district association on the distribution of moneys under ORS 285B.655. When consulting with the district association on the use of moneys, the department and the district association shall consider:
(a) Which rural jurisdictions are most in need of the assistance provided under ORS 285B.651 to 285B.676; and
(b) The geographical balance of the distributions and assistance.
(5) Work with the district association to determine the number and location of the grant writers and rural capacity builders to be hired with the moneys distributed.
(6) Make the distributions under ORS 285B.655 in accordance with the policy and priorities developed under this section from moneys in the Oregon Rural Capacity Fund established under ORS 285B.676.
(7) Oversee the rural grant services provided under ORS 285B.651 to 285B.676.
(8) Periodically consult with the League of Oregon Cities, the Association of Oregon Counties, the Oregon School Boards Association and the Special Districts Association of Oregon on the implementation of ORS 285B.651 to 285B.676. [2021 c.614 §3]
Note:
See note under 285B.651.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.664 - Requirements for member district receiving moneys; agreements with regional solutions advisory committees; quarterly reports; member district hiring authority.

(1) This section applies to a member district that receives moneys pursuant to ORS 285B.655.
(2)(a) The member district shall expend the moneys solely to provide grant writing, grant administration, rural grant and rural capacity building services to rural jurisdictions for the purposes set forth in ORS 285B.655.
(b) The moneys received by the member district, and the activities of the member district in expending the moneys, shall supplement and may not supplant the resources and activities of the member district.
(c) The member district may not use moneys received pursuant to ORS 285B.655 to apply for grants for purposes unrelated to the purposes set forth in ORS 285B.655.
(d) For purposes of a member district’s assistance to rural jurisdictions under this section, the Oregon Business Development Department may enter into an agreement with a regional solutions advisory committee appointed pursuant to ORS 284.754 for a region in which the member district is located in order to coordinate the activities of the member district, including the use of the moneys distributed to the member district, and the regional solutions team for the region.
(e) The member district shall manage, document and submit quarterly reports to the department about the assistance the member district provides to rural jurisdictions under this section. The reports shall contain at a minimum all applicable information required under ORS 285B.670 (2).
(3)(a) The member district may hire an individual under this section as an employee or an independent contractor.
(b) The member district may assign individuals hired under this section to provide the services described in subsection (2)(a) of this section to more than one rural jurisdiction. [2021 c.614 §4]
Note:
See note under 285B.651.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.670 - Annual report to legislature by Oregon Business Development Department.

(1) Not later than September 15 of each year, the Oregon Business Development Department shall provide a brief report, in the manner required under ORS 192.245, to the interim committees of the Legislative Assembly related to economic development, that describes the activities that Oregon’s Economic Development Districts engaged in for the previous 12-month period under ORS 285B.651 to 285B.676 and the results of those activities.
(2) At a minimum, the report required under this section shall identify:
(a) The rural jurisdictions that requested assistance funded by the district association;
(b) The rural jurisdictions that received such assistance;
(c) The populations served by the rural jurisdictions that requested assistance funded by the district association;
(d) The populations served by the rural jurisdictions that received such assistance;
(e) The number of funding opportunities, and the dollar amount of private and public funds, separately stated, that the rural jurisdictions applied for with assistance funded by the district association;
(f) The number of funding opportunities from which the rural jurisdictions received funding with such assistance, and the dollar amount of private and public funding so received, separately stated;
(g) The multiplier effects of grants and other forms of funding received by the rural jurisdictions with assistance funded by the district association;
(h) The expected effect of grants and other forms of funding received by the rural jurisdictions with assistance funded by the district association on the timing of the commencement and completion of projects;
(i) The number of jobs created by rural jurisdictions that received assistance under ORS 285B.651 to 285B.676;
(j) The return on investment of moneys distributed to member districts under ORS 285B.655; and
(k) Any other information the department considers important to include in the report. [2021 c.614 §5]
Note:
See note under 285B.651.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.740 - Legislative intent; delegation of loan program responsibilities; powers of department; loan fees.

It is the intent of the Legislative Assembly that in the administration of ORS 285B.740 to 285B.758, the Oregon Business Development Department work closely with regional economic development organizations, community development corporations, small business development centers and organizations that promote and assist minority-owned businesses, woman-owned businesses, veteran-owned businesses and emerging small businesses, as those terms are defined in ORS 200.005, and utilize policies, priorities and practices that further entrepreneurial and small business development in rural communities. The department, to the maximum extent feasible and consistent with prudent financial controls, may delegate the administration and operation of the loan program created by ORS 285B.740 to 285B.758 to local and community-based entities. To carry out the policy described in this section:
(1) The department may contract with any nonprofit corporation or agency with experience and expertise in business finance to administer all or any part of the loan program created by ORS 285B.740 to 285B.758.
(2) When entering into an agreement for the administration of the loan program by any nonprofit corporation or agency, the department may agree to waive any claims it may have against such corporation or agency for losses arising out of the normal course of business, as long as the corporation or agency does not act negligently or fraudulently in providing loans under ORS 285B.740 to 285B.758.
(3) When entering into an agreement to have a nonprofit corporation or agency administer the loan program created by ORS 285B.740 to 285B.758, the department may pay loan origination and loan servicing fees to the corporation or agency. The amount of such fees may be determined in the agreement between the department and the administering corporation or agency. [1991 c.688 §12; 2007 c.804 §79; 2009 c.830 §130; 2014 c.3 §2; 2015 c.565 §17; 2023 c.497 §17]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.743 - Application for entrepreneurial development loan; eligibility; rules.

(1) Any individual or business firm may file with the Oregon Business Development Department an application to borrow money from the Oregon Entrepreneurial Development Loan Fund as provided in ORS 285B.740 to 285B.758. The application shall be filed in such a manner and contain or be accompanied by such information as the department may require.
(2) Upon receipt of an application under this section, the department shall determine whether the applicant is eligible to receive a loan under ORS 285B.740 to 285B.758. The department may adopt rules for processing applications from applicants that are not eligible to receive a loan under this section. [1991 c.688 §7; 2001 c.684 §21; 2007 c.804 §37; 2009 c.830 §131]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.746 - Conditions for loan approval.

(1) The Oregon Business Development Department may approve a loan requested in an application filed under ORS 285B.743 if, after investigation, it finds that:
(a) The applicant is enrolled in a small business management program with a small business development center or certified entity;
(b) The applicant has prepared a business plan for the business, which has been reviewed by a small business development center or other entity certified by the department to review business plans; and
(c) The applicant is not effectively owned or controlled by another business entity or other person that, either by itself or when combined with the applicant, is not eligible for a loan under ORS 285B.740 to 285B.758.
(2) In addition to the requirements for loan approval described in subsection (1) of this section, in order to obtain a loan under ORS 285B.740 to 285B.758, an applicant must also satisfy one of the following conditions:
(a) In the 12-month period immediately preceding the date of application, the business may not have had annual revenues that exceeded $1.5 million;
(b) At the time of application, the business must have fewer than 25 employees;
(c) The business or proposed business must be owned, in whole or in part, by a person certified as having a severe disability by the Department of Human Services or the Commission for the Blind; or
(d) The applicant must submit proof to the Oregon Business Development Department that the applicant is a veteran who:
(A) Has a United States Department of Veterans Affairs total disability rating of at least 70 percent as a result of an injury or illness that the veteran incurred, or that was aggravated, during active military service; and
(B) Received a discharge or release under other than dishonorable conditions. [1991 c.688 §8; 1997 c.147 §5; 2007 c.70 §72; 2007 c.804 §38; 2009 c.830 §132; 2010 c.106 §§3,7; 2011 c.558 §4; 2019 c.394 §1; 2020 s.s.2 c.10 §§24,25; 2022 c.2 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.749 - Additional conditions for loan approval; maximum term and amount of loan.

(1) The Oregon Business Development Department may approve an entrepreneurial development loan under ORS 285B.740 to 285B.758 if, after investigation, it finds that:
(a) The loan has a reasonable prospect of repayment from cash flow and collateral and is secured by good and sufficient collateral; and
(b) The applicant provides equity funds for the project in the form of cash or property in an amount equal to or greater than:
(A) Fifteen percent of the amount of the project proceeds used for working capital and equipment; or
(B) Ten percent of the amount of the project proceeds used to acquire real property.
(2) The department shall determine the amount of the initial loan and any subsequent loan to a borrower from the Oregon Entrepreneurial Development Loan Fund. The total of all loans to any borrower from the fund may not exceed $1 million.
(3) Entrepreneurial development loans shall be made for a term that does not exceed 10 years at a rate of interest that does not exceed 18 percent per annum. [1991 c.688 §9; 1997 c.147 §6; 2007 c.804 §39; 2009 c.830 §133; 2010 c.106 §§4,8; 2011 c.558 §5; 2014 c.3 §3; 2020 s.s.2 c.10 §§26,27; 2022 c.2 §4]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.753 - Indexing of annual revenue limit amount and total loan limit amount.

(1) Beginning with the 2023 calendar year, the Oregon Business Development Department shall annually adjust the annual revenue limit amount specified in ORS 285B.746 (2)(a) and the total loan limit amount specified in ORS 285B.749 (2) by multiplying each amount by the percentage change in the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor, for the 12 consecutive months ending on the immediately preceding December 31 compared to the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), for the 12 consecutive months ending on December 31, 2021.
(2) Notwithstanding subsection (1) of this section:
(a) The adjusted annual revenue limit amount specified in ORS 285B.746 (2)(a) may not be less than $1.5 million.
(b) The adjusted total loan limit amount specified in ORS 285B.749 (2) may not be less than $1 million. [2021 c.20 §6; 2022 c.2 §6]