reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.068 - Payment of moneys for project; applicant to pay percentage of loan principal to Oregon Business Development Fund.

(1) If the Oregon Business Development Commission approves a loan for a business development project and the applicant has received all necessary permits required by federal, state and local agencies, the commission shall pay moneys for the project from the Oregon Business Development Fund, in accordance with the terms of the loan contract as prescribed by the commission.
(2) Immediately upon receiving the loan proceeds, the applicant shall pay to the commission one and one-half percent of the principal amount of the loan, to be paid back to the Oregon Business Development Fund. A maximum of three percent of the principal amount of the loan may be paid from the fund to local development groups for the purposes set forth in ORS 285B.092 (1)(a). [Formerly 285.417; 2009 c.830 §55]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.080 - Director as agent; duties; authority to approve loans.

(1) The Oregon Business Development Commission may appoint the Director of the Oregon Business Development Department as the commission’s representative and agent in all matters pertaining to ORS 285B.050 to 285B.098.
(2) The director shall ensure that all provisions of ORS 285B.050 to 285B.098 are complied with and that appropriately trained personnel are employed to properly administer the fiscal and other portions of ORS 285B.050 to 285B.098.
(3) The director shall have the authority in the director’s sole discretion to approve loans for business development projects in the amount of $250,000 or less and to disburse funds for such projects. [Formerly 285.433; 2009 c.830 §56; 2010 c.106 §§2,6; 2011 c.558 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.081 - Repayment and collection; rules.

The Oregon Business Development Department shall develop rules governing repayment of loans to the Oregon Business Development Fund and collection of moneys owed the fund. The department may take any action permitted by statute or rule that the department deems necessary for repayment of the loan. [2007 c.804 §49; 2009 c.830 §57]
Note:
285B.081 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.083 - Use of refinancing and other financial assistance for repayment.

Except as provided in ORS 285B.086, if any business development project is refinanced or financial assistance is obtained from other sources after the execution of the loan from the state, those may first be used to repay the state, unless provided otherwise by the committee, if the refinancing or financial assistance applies only to the business development project authorized and does not include any subsequent addition, expansion, improvement or further development. [Formerly 285.435; 2007 c.804 §45]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.086 - Authorization to lend funds for joint governmental projects or match money; form of loan application; loan limit.

(1) The Oregon Business Development Commission may authorize funds from the Oregon Business Development Fund to be used in appropriate joint governmental participation projects or as match money with any municipally, county, state or federally funded business development project authorized within a county or city, subject to the stipulations of ORS 285B.050 to 285B.098.
(2) Any application for a loan under this section shall be in such form as the commission prescribes and shall furnish such proof of federal, state or local approval as appropriate for funding of the business development project.
(3) The total amount of moneys loaned from the fund for federal, state or local joint business development project purposes shall not exceed $1 million per project. [Formerly 285.437; 2003 c.167 §4; 2009 c.830 §58]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.089 - Loan contract; required provisions; repayment schedule.

If the Oregon Business Development Commission approves an application for the loan of moneys authorized by ORS 285B.086, the commission shall enter into a loan contract, secured by good and sufficient collateral as determined by the commission, with the applicant that provides, among other matters:
(1) That the loan bear interest at the same rate of interest as provided in ORS 285B.062 (1).
(2) That the contract shall set forth a schedule of payments including interest and principal for the period of the loan, which shall not exceed the usable life of the contracted project or 25 years from the date of the contract, whichever is less, and shall set forth the manner of determining when loan payments are delinquent. The same schedule shall include repayment of interest which accrues during any period of delay in repayment authorized by ORS 285B.050 to 285B.098, and the repayment schedule may require payments of varying amounts for collection of that accrued interest. However, the commission may make provisions for extensions of time in making repayment if the delinquencies are caused by acts of God or other conditions beyond the control of the applicant and the security will not be impaired thereby.
(3) Such provisions as the commission considers necessary to insure expenditure of the moneys loaned for the purposes provided in ORS 285B.086, including all provisions of ORS 285B.059. [Formerly 285.440; 2007 c.804 §46; 2009 c.830 §59]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.092 - Oregon Business Development Fund; uses; transfer of unobligated funds.

(1) There is created within the State Treasury a revolving fund known as the Oregon Business Development Fund, separate and distinct from the General Fund. Interest earned by the Oregon Business Development Fund shall be credited to the fund. Moneys in the fund are continuously appropriated to the Oregon Business Development Commission for the following purposes:
(a) Administrative expenses of the commission in marketing public business finance, processing applications, investigating proposed business development projects and servicing outstanding loans. In any one year, administrative expenses charged under this paragraph may not be greater than the total revenues received in that year from fees provided for in subsection (2)(a) of this section, plus four percent of the total asset value of the fund.
(b) Payment of loans to applicants under ORS 285B.050 to 285B.098.
(c) Transfer of moneys to the Small Business Expansion Loan Fund established under ORS 285B.133 in accordance with ORS 285B.133 (3).
(d) Actions the commission deems necessary to obtain repayment of outstanding loans.
(e) Purchase or buyout of superior or prior liens or mortgages on or a security interest in any business development project financed in part by a loan from the Oregon Business Development Fund, when the commission determines:
(A) A loan from the fund is in default and is in liquidation or at risk of being forced into liquidation by another creditor to the project; and
(B) The action is necessary to maintain or enhance the value of the commission’s collateral in the project.
(2) The fund created by subsection (1) of this section shall consist of:
(a) Fees as determined by the commission.
(b) Repayment of moneys loaned to counties, municipalities or persons from the fund, including interest on those moneys or including other receipts.
(c) Payment of such moneys as may be appropriated to the fund by the Legislative Assembly.
(d) Moneys obtained from any interest accrued from funds.
(e) Moneys from any grant made to the fund by any federal agency.
(3) All repayments, interest and other receipts from outstanding indebtedness or any other source shall be retained and accumulated in the fund and shall be used for the purposes of the fund.
(4) Notwithstanding any other provision of law, if at any time there are insufficient funds in established business finance programs, the commission may direct the transfer of unobligated funds from the Oregon Business Development Fund. [Formerly 285.443; 1999 c.247 §3; 1999 c.509 §28; 2003 c.167 §5; 2007 c.804 §47; 2009 c.830 §60; 2018 c.71 §4]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.093 - Oregon Targeted Development Account; purpose; exemption from minimum interest rate.

(1) The Oregon Business Development Commission may establish the Oregon Targeted Development Account as an account within the Oregon Business Development Fund.
(2) The purpose of the Oregon Targeted Development Account is to promote cooperation and foster partnership among the commission, the Oregon Business Development Department and financial institutions in Oregon to encourage investment in distressed areas, as defined by the department.
(3) The department may make loans from the Oregon Targeted Development Account in distressed areas without regard to the minimum rate of interest that is otherwise applicable under ORS 285B.062. The department may make loans in distressed areas at an interest rate that is determined by the commission. [1999 c.247 §1; 2003 c.167 §6; 2007 c.804 §48; 2009 c.830 §61]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.109 - Definitions for ORS 285B.109 to 285B.119.

As used in ORS 285B.109 to 285B.119, unless the context requires otherwise:
(1) "Brownfield" or "brownfields" has the meaning given that term in ORS 285A.185.
(2) "Capital access program" means the program established by ORS 285B.109 to 285B.119.
(3) "Environmental action" has the meaning given that term in ORS 285A.188.
(4) "Financial institution" means a financial institution, as defined in ORS 706.008.
(5) "Loss reserve account" means an account in the State Treasury or any financial institution that is established and maintained by the Oregon Business Development Department for the benefit of a financial institution participating in the capital access program.
(6) "Qualified business" means any person, conducting business for profit or not for profit, that is authorized to conduct business in the State of Oregon.
(7) "Qualified loan" means a loan or portion of a loan made by a financial institution to a qualified business for any business activity that has its primary economic effect in Oregon. The term does not include:
(a) A loan for the purchase of owner-occupied residential housing or for the construction, improvement or purchase of residential housing owned or to be owned by the borrower.
(b) A loan for purchase of real property that is not used for the business operations of the borrower.
(c) A loan for the refinancing of an existing loan when and to the extent that the outstanding balance is not increased. [Formerly 285B.126]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.111 - Purpose of ORS 285B.109 to 285B.119.

It is the purpose of ORS 285B.109 to 285B.119 to establish a capital access program under which the State of Oregon will provide public fiscal resources to assist Oregon financial institutions to overcome obstacles and constraints in meeting the full range of economically sound financing needs of Oregon businesses. [Formerly 285B.129]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.113 - Contracts with financial institutions to participate in program; required contents; disclosure of information.

(1) The Oregon Business Development Department may contract with any financial institution for the purpose of allowing the financial institution to participate in the capital access program established by ORS 285B.109 to 285B.119.
(2) A contract between the department and a financial institution under this section shall provide:
(a) For the creation of a loss reserve account by the department for the benefit of the financial institution.
(b) That the financial institution, qualified business and the department will deposit moneys to the credit of the institution’s loss reserve account when the financial institution makes a qualified loan to a qualified business.
(c) That the department will pay moneys in the loss reserve account, not exceeding an amount equal to the total amount credited to the loss reserve account, to the financial institution to reimburse the institution for any financial loss incurred as a result of any qualified loan made under the capital access program established by ORS 285B.109 to 285B.119.
(d) That the liability of the State of Oregon and the department to the financial institution under the contract is limited to the amount of money credited to the loss reserve account of the institution.
(e) That the financial institution shall provide such information as the department may require, including financial information that is identifiable with, or identifiable from, the financial records of a particular customer who is the recipient of a qualified loan.
(f) For such other terms as the department may require.
(3) A financial institution is not subject to ORS 192.586 (1) when the financial institution provides information to the department as required by subsection (2)(e) of this section. [Formerly 285B.132]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.115 - Loss reserve accounts; policies; rules; moneys as property of state.

(1) The Oregon Business Development Department shall establish a loss reserve account for each financial institution with which the department makes a contract under ORS 285B.113.
(2) The loss reserve account for a financial institution shall consist of moneys paid as fees by borrowers and the financial institution under ORS 285B.117 and moneys transferred to the account from the Capital Access Fund under ORS 285B.117.
(3) Notwithstanding ORS chapter 293 or 295, the department may establish and maintain loss reserve accounts with any financial institution under such policies as the department may adopt. The department may establish rules to encourage financial institutions to participate in the capital access program.
(4) All moneys in a loss reserve account established under ORS 285B.109 to 285B.119 are the property of the State of Oregon. [Formerly 285B.135]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.117 - Enrollment of qualified loan in program; notice to department; fees; transfers to loss reserve accounts; rules and limits for loans.

(1) When a financial institution participates in the capital access program, if the financial institution decides to enroll a qualified loan under the capital access program in order to obtain the protection against loss provided by its loss reserve account, the financial institution shall notify the Oregon Business Development Department of the loan within 30 days after the loan is made. The notification shall be in writing on a form prescribed by the department.
(2) When making a qualified loan that will be enrolled under the capital access program, the financial institution shall require the qualified business to which the loan is made to pay a fee of not less than one and one-half percent of the principal amount of the loan but not more than three and one-half percent of such principal amount. The financial institution shall also pay a fee in an amount equal to the fee paid by the borrower. The financial institution shall deliver the fees collected under this subsection to the department for deposit in the loss reserve account for the institution.
(3) When depositing fees collected under subsection (2) of this section to the credit of the loss reserve account for a financial institution, the department shall transfer an amount that is not less than the total amount of the fees paid by the borrower and the financial institution from the Capital Access Fund to the loss reserve account for the institution.
(4) Notwithstanding subsections (1) to (3) of this section, the department may adopt rules providing that, for qualified loans to businesses in distressed areas or for use in an environmental action on brownfields, the department may transfer an amount that is not less than 150 percent of the total amount of the fees paid by the borrower and the financial institution from the Capital Access Fund to the loss reserve account of the institution. The total amount transferred under this section may not exceed 40 percent of the moneys appropriated to the fund. For purposes of this subsection, "distressed areas" shall have the meaning given that term by the department by rule. [Formerly 285B.138]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.118 - Claims for reimbursement of losses; reimbursable costs; repayment to loss reserve account.

(1) The Oregon Business Development Department shall establish procedures under which financial institutions participating in the capital access program established by ORS 285B.109 to 285B.119 may submit claims for reimbursement for losses incurred as a result of qualified loan defaults.
(2) Costs for which a financial institution may be reimbursed from its loss reserve account include loan principal, accrued interest on the principal, actual and necessary costs of seeking recovery of the principal amount and interest thereon and any other related costs.
(3) A financial institution may seek reimbursement of loan losses prior to the liquidation of collateral from defaulted loans. The financial institution shall repay its loss reserve account for any moneys received as reimbursement under this section if the financial institution recovers moneys from the borrower or from the liquidation of collateral for the defaulted loan. [Formerly 285B.141]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.119 - Capital Access Fund; investment; retrieval of interest; administrative expenses.

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Capital Access Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purpose of making payments to loss reserve accounts established under ORS 285B.109 to 285B.119.
(2) Moneys in the Capital Access Fund, with the approval of the State Treasurer, may be invested as provided by ORS 293.701 to 293.857, and the earnings from such investment shall be credited to the Capital Access Fund.
(3) The Capital Access Fund shall consist of:
(a) Moneys appropriated to the fund by the Legislative Assembly.
(b) Interest earned on moneys in the fund.
(c) Moneys returned to the fund from loss reserve accounts or other sources.
(4) If the department deems retrieval of interest earned on loss reserve accounts appropriate, the department may transfer into the fund up to 50 percent of the interest earned on moneys in loss reserve accounts.
(5) The department may charge administrative costs to the fund to pay for actual and necessary administrative expenses incurred by the department in administering the fund and establishing and maintaining loss reserve accounts under ORS 285B.109 to 285B.119. [Formerly 285B.147]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.120 - Oregon Small Business Development Act.

ORS 271.510, 271.520, 285B.092, 285B.123, 285B.165 to 285B.171, 285B.320 to 285B.326, 285B.335, 285B.341, 285B.344, 285B.350, 285B.365, 285B.371, 657.471, 659A.015 and 777.250 shall be known as the Oregon Small Business Development Act of 1983. [Formerly 285.500]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.123 - Purpose.

(1) The purpose of the Oregon Small Business Development Act of 1983 is to encourage and assist the development and continued growth of small business in this state.
(2) As used in the Oregon Small Business Development Act of 1983, "small business" means a business having 100 or fewer employees. [Formerly 285.503; 2007 c.804 §16]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.133 - Small Business Expansion Loan Fund; purposes; sources of moneys; special transfers to and from fund.

(1) The Small Business Expansion Loan Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Small Business Expansion Loan Fund shall be credited to the fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the following purposes:
(a) Payment of loans to applicants approved under ORS 285B.130.
(b) Payments to local development groups for the purposes of this section. A payment under this paragraph may not exceed one percent of the principal loan amount from which payment is required under ORS 285B.130 (5)(b).
(c) Administrative costs of the department incurred in marketing the loan program, processing loan applications, investigating eligibility of applicants and servicing outstanding loans.
(2) The Small Business Expansion Loan Fund consists of:
(a) Fees collected by the department under ORS 285B.130;
(b) Payments required under ORS 285B.130 (5)(b);
(c) Moneys repaid by recipients of loans from the fund, including interest on those moneys and other receipts;
(d) Moneys appropriated to the fund by the Legislative Assembly;
(e) Moneys transferred to the fund by the Oregon Business Development Commission from the Oregon Business Development Fund pursuant to subsection (3) of this section;
(f) Income earned on moneys in the Small Business Expansion Loan Fund;
(g) Moneys transferred to the fund from the federal government, other state agencies or local governments; and
(h) Any gifts or donations made to the State of Oregon for deposit in the fund.
(3) The Oregon Business Development Commission may transfer moneys credited to the Oregon Business Development Fund created under ORS 285B.092 to the Small Business Expansion Loan Fund established under this section when the commission determines that the transfer is reasonable and financially appropriate and would not impair the making of loans under ORS 285B.050 to 285B.098. Moneys transferred under this subsection shall be used by the Oregon Business Development Department for the purpose of making loans under ORS 285B.130.
(4) Notwithstanding any other provision of law, if at any time there are insufficient funds in established business finance programs, the department may direct the transfer of unobligated funds from the Small Business Expansion Loan Fund. [2018 c.71 §§2,3]
Note:
See note under 285B.130.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.165 - Purpose of ORS 285B.165 to 285B.171.

The purpose of ORS 285B.165 to 285B.171 is to establish and sustain a statewide network of small business development centers. [Formerly 285.540; 2001 c.148 §3; 2007 c.804 §17]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.168 - Grants; application; required provisions; authorized uses; eligibility; subcontracts; report.

(1) The Oregon Business Development Department may make grants available to a community college district, a community college service district or, with the concurrence of the executive director of the Higher Education Coordinating Commission, a public university listed in ORS 352.002 to assist in the formation, improvement and operation of small business development centers. If a community college district, a community college service district or a public university is unable to adequately provide services in a specific geographic area, the department may make grants available to other service providers as determined by the department. The grant application shall include:
(a) Plans for providing small business owners and managers individual counseling, to the greatest extent practicable, in subject areas critical to small business success;
(b) A budget for the year for which a grant is requested, including cost apportionment among the department, small business clients, the community college, the public university or other service providers and other sources;
(c) A plan for evaluating the effect of the program on small business clients served; and
(d) A plan for providing collaboration with state agencies, state-supported organizations and private sector entities that provide services to small businesses.
(2) The grants made under subsection (1) of this section are to be used by the grant recipient to provide:
(a) Small business development center staff and support staff;
(b) Expert resource persons from the business community;
(c) Outreach and marketing for small business development centers;
(d) Training and business resources as approved by the department in skill areas for which, or areas of the state where, the grant recipient can demonstrate it does not otherwise have the capacity or expertise to provide the resources; and
(e) Costs related to providing training, counseling and business resources to small business clients.
(3) To be eligible for a grant under subsection (1) of this section, the recipient shall be required to provide funds, in-kind contributions or some combination of funds and contributions, in accordance with rules adopted by the department.
(4) Subject to the approval of the department, a grant recipient may subcontract funds received under this section to any other entity that is eligible to receive funding under this section.
(5) The grant recipient shall submit a final report to the department after the distribution of grant funds and the delivery of services to the proposed business clients. The report shall state whether the plan and related budget have met the applicable criteria as described in the recipient’s application for the grant period. [Formerly 285.543; 2001 c.148 §4; 2003 c.773 §15; 2007 c.804 §18; 2009 c.830 §68; 2011 c.637 §93; 2013 c.747 §35; 2017 c.201 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.169 - Centers to collaborate with state agencies and private sector.

The statewide network of small business development centers established under ORS 285B.165 to 285B.171 shall, whenever practicable, collaborate with state agencies, state-supported organizations and private sector entities that provide services to small businesses to:
(1) Refer small businesses that could benefit from the services offered by the small business development center network to small business development centers in the counties or regions where the small business development centers are located;
(2) Use small business development centers for training and business outreach to small businesses;
(3) Coordinate trainings to reduce multiple and repeat stops and inquiries for small businesses with common interests;
(4) Inform small businesses of training opportunities that would not otherwise have been accessed or available; and
(5) Reach target populations by advertising or otherwise distributing information through small business development centers. [2017 c.201 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.174 - Programs to assist businesses in procuring government contracts and grants.

In cooperation with other state agencies and private organizations, public universities listed in ORS 352.002 and community colleges may develop programs to assist Oregon businesses with the procurement of government contracts and grants. Small business development centers established under ORS 285B.165 to 285B.171 may assist with these programs. [Formerly 285.550; 2001 c.148 §5; 2007 c.804 §19; 2011 c.637 §94]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.178 - Definitions for Microenterprise Development Act.

As used in this section and ORS 285B.179:
(1) "Local microenterprise support organization" means a community development corporation, a nonprofit development organization, a nonprofit social services organization or another locally operated nonprofit entity that provides services to disadvantaged entrepreneurs.
(2) "Low income" means income adjusted for family size that does not exceed:
(a) For metropolitan areas, 80 percent of median income; or
(b) For nonmetropolitan areas, the greater of 80 percent of the area median income or 80 percent of the statewide nonmetropolitan area median income.
(3) "Microenterprise" has the meaning given that term under 15 U.S.C. 6901, as amended and in effect on June 30, 2007. If 15 U.S.C. 6901 is amended or altered on or after July 1, 2007, the Oregon Business Development Department may adopt by rule a definition of "microenterprise" to give the term the meaning given in 15 U.S.C. 6901 as amended or altered.
(4) "Microentrepreneur" means an individual conducting a microenterprise.
(5) "Microlending" means the practice of lending moneys to microenterprises or microentrepreneurs.
(6) "Statewide microenterprise support organization" means a community development corporation, a nonprofit development organization, a nonprofit social services organization or another nonprofit entity that serves as an intermediary between the department and local microenterprise support organizations.
(7) "Training and technical assistance" means services and support offered to microenterprises and microentrepreneurs. "Training and technical assistance" includes, but is not limited to, services to enhance business development, asset building, business planning, marketing, management skills and access to financial services.
(8) "Very low income" means income adjusted for family size that does not exceed 150 percent of the poverty level determined under 42 U.S.C. 9902, as amended and in effect on June 30, 2007. If 42 U.S.C. 9902 is amended or altered on or after July 1, 2007, the department may adopt by rule the standard for determining the federal poverty level under 42 U.S.C. 9902 as amended or altered. [2001 c.419 §2; 2007 c.804 §20; 2009 c.830 §69]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.179 - Purposes of Microenterprise Development Act.

The purposes of ORS 285B.178 and this section are to:
(1) Ensure that microenterprises in Oregon are able to realize their full potential to create jobs, enhance entrepreneurial skills, expand entrepreneurial activity and increase the capacity of low income and very low income households to become self-sufficient;
(2) Enhance the development of a statewide infrastructure for microenterprise support; and
(3) Enable the Oregon Business Development Department to engage in contractual relationships with statewide microenterprise support organizations that have the capacity to administer grants to local microenterprise support organizations, subject to ORS 285B.178 and this section, and to leverage additional funds from sources other than moneys appropriated from the General Fund. [2001 c.419 §3; 2007 c.804 §21; 2009 c.830 §70]
Note:
See note under 285B.178.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.200 - Definitions for ORS 285B.200 to 285B.218.

As used in ORS 285B.200 to 285B.218:
(1) "Brownfield" or "brownfields" has the meaning given that term in ORS 285A.185.
(2) "Eligible project costs" includes productive equipment and machinery, working capital for operations and export transactions and such other costs as the Oregon Business Development Department by rule may provide.
(3) "Environmental action" has the meaning given that term in ORS 285A.188.
(4) "Financial institution" includes institutions listed in ORS 706.008 and such other institutions defined by rule of the department as financial institutions for purposes of ORS 285B.200 to 285B.218.
(5) "Qualified business" means any existing or proposed business located in this state that will produce substantial benefits for this state.
(6) "Value-added agricultural industry" means an industry in which agricultural products have been processed, transformed or refined to the point where the products may be distributed to a final consumer without further processing, transformation or refining. The term also includes industries in which agricultural products are processed, transformed or refined for distribution to other than final consumers when such processing, transformation or refining represents a substantial increment in value as determined by the Oregon Business Development Department in consultation with the State Department of Agriculture. [Formerly 285.466; 1999 c.247 §4; 2007 c.804 §56; 2009 c.830 §71; 2012 c.73 §§1,2; 2016 c.116 §1]
Note:
285B.200 to 285B.218 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B 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.203 - Purpose of Credit Enhancement Fund.

The Legislative Assembly declares that it is the purpose of the Credit Enhancement Fund to:
(1) Create incentives and assistance to increase the flow of private capital to the value-added agriculture industries.
(2) Promote industrial modernization and technology adoption.
(3) Encourage the retention and creation of family wage jobs.
(4) Encourage the export of goods and services by Oregon businesses in international markets.
(5) Encourage and promote the redevelopment of brownfields by providing assistance to perform environmental action on brownfield sites. [Formerly 285.468; 2001 c.96 §4; 2007 c.804 §57]
Note:
See note under 285B.200.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.206 - Duties of department; rules; application procedure; agreement contents.

(1) The Oregon Business Development Department shall develop a program under which the department, under contracts with financial institutions, shall provide loan guarantees, insurance, coinsurance in conjunction with other providers of loan guarantee programs or other forms of credit guarantees for qualified businesses for eligible project costs.
(2) In administering the program created by ORS 285B.200 to 285B.218, the department shall consult and cooperate with financial institutions in this state. The program shall be administered so that administrative procedures and application procedures are as responsive to the needs of qualified businesses and financial institutions as practicable, consistent with prudent investment and lending practices and criteria.
(3) The department shall prescribe by rule the loan or credit guarantee application procedure for a financial institution on behalf of a qualified business.
(4) When the department approves a loan or credit guarantee, the department shall enter into a loan or credit guarantee agreement with the financial institution. The agreement shall specify:
(a) The fee to be charged to the financial institution;
(b) The evidence of debt assurance of, and security for, the loan or credit guarantee;
(c) A loan guarantee or credit guarantee which does not exceed 15 years; and
(d) Such other terms and conditions considered necessary or desirable by the department. [Formerly 285.474; 2007 c.804 §58; 2009 c.830 §72]
Note:
See note under 285B.200.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.209 - Fees and terms for loan and credit guarantees.

(1) When making loan or credit guarantees under the program established under ORS 285B.200 to 285B.218, the Oregon Business Development Department shall establish fees and other terms for loan or credit guarantees that are calculated to reasonably assure that businesses with access to other forms of private capital will find it economical not to participate in the program.
(2) The department, with due regard for the possibility of losses and administrative costs, shall set fees and other terms at levels sufficient to reasonably assure that the program is self-financing. [Formerly 285.476; 2007 c.804 §59; 2009 c.830 §73]
Note:
See note under 285B.200.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.215 - Credit Enhancement Fund; uses; sources.

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Credit Enhancement Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the following purposes:
(a) Payment of claims pursuant to contracts for loan or credit guarantees under ORS 285B.200 to 285B.218.
(b) Payment of administrative costs of the department for actual and necessary administrative expenses incurred by the department in administering the fund and establishing and maintaining the program established under ORS 285B.200 to 285B.218.
(c) Repayment of transfers of funds required or authorized by law.
(d) Purchase or buyout of superior or prior liens, mortgages or security interests.
(2) Moneys in the Credit Enhancement Fund shall consist of:
(a) Moneys appropriated to the fund by the Legislative Assembly, including moneys derived from the Administrative Services Economic Development Fund.
(b) Proceeds from collateral assigned to the department.
(c) Interest earned on moneys in the fund.
(d) Transfers of moneys to the fund.
(e) Fees assessed for guarantees, as determined by the department.
(f) Moneys from gifts.
(g) Moneys from any grant made to the fund by any federal agency.
(h) Proceeds of insurance provided by the Export-Import Bank of the United States or by any other provider of insurance for export transactions. [Formerly 285.471; 2007 c.804 §60; 2009 c.830 §74]
Note:
See note under 285B.200.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.218 - Pledge to assure repayment; transfer of funds to pay claims.

(1) The Oregon Business Development Department is authorized to pledge up to $75 million to assure the repayment of loan guarantees or other extensions of credit made to or on behalf of qualified businesses for eligible projects costs.
(2) If the balances in the Credit Enhancement Fund are insufficient to cover any claims by financial institutions that arise from loan and credit guarantees made under ORS 285B.200 to 285B.218, the Oregon Department of Administrative Services is directed to transfer in the fiscal year as often as appropriate any funds from the Administrative Services Economic Development Fund to cover such principal, interest and claims, subject to the condition that no such transfer shall be made prior to the satisfaction of any constitutionally dedicated distribution, the allocation under ORS 391.130 to the Regional Light Rail Extension Construction Fund or any allocations related to the lottery bond program authorized by ORS 286A.560 (6)(a) or (b). [Formerly 285.481; 2007 c.804 §61; 2009 c.830 §75]
Note:
See note under 285B.200.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.230 - Local economic development strategy.

As used in ORS 285B.230 to 285B.266, unless the context requires otherwise, "local economic development strategy" is a long-term economic development strategy, updated as required by the Oregon Business Development Department, that focuses on the economic development priorities of each community or geographic region in the state. [Formerly 285.630; 1999 c.509 §47; 2003 c.773 §16; 2007 c.804 §62; 2009 c.830 §76]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.233 - Legislative findings; purpose.

(1) The Legislative Assembly finds that local economic development activities and initiatives are essential to the state’s long-term prosperity and that to be effective, local economic development strategies must have the coordinated support of available resources.
(2) The Legislative Assembly declares that the purpose of ORS 285B.230 to 285B.266 is:
(a) To encourage the development of local economic development strategies that address the economic development priorities of communities in or geographic regions of the state;
(b) To identify and coordinate economic development priorities;
(c) To ensure that economic development plans reinforce the long-term prosperity and livability of Oregon;
(d) To effectively utilize available resources through a strategic program tied to the state’s economic development strategy;
(e) To leverage and attract capital investment in Oregon communities; and
(f) To coordinate private and public resources to support economic development. [Formerly 285.633; 1999 c.509 §48; 2003 c.773 §17; 2009 c.830 §77]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.236 - Guidelines for local economic development strategies; required provisions; rules.

(1) The Oregon Business Development Department by rule shall adopt guidelines for submission of local economic development strategies and distribution of funds.
(2) The guidelines shall provide that the local economic development strategies are approved in accordance with criteria reflecting the economic benefits to the state. Each local economic development strategy must at a minimum set forth in measurable terms the extent to which the strategy will accomplish the economic development priorities of the community or geographic region, and the department’s performance standards. [Formerly 285.635; 1999 c.509 §49; 2003 c.773 §18; 2007 c.804 §63; 2009 c.830 §78]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.260 - Local Economic Opportunity Fund; uses; rules.

(1) There is created a Local Economic Opportunity Fund, separate and distinct from the General Fund, to consist of all moneys credited thereto, including moneys from the Administrative Services Economic Development Fund, and all interest earned on the Local Economic Opportunity Fund. The fund is continuously appropriated to the Oregon Business Development Department to be used for grants to implement ORS 280.518 and 285B.230 to 285B.266.
(2) The department may use moneys in the Local Economic Opportunity Fund to pay for the administrative expenses of operating the local investment program under ORS 285B.230 to 285B.266.
(3) The fund shall not be used to retire any debt, to reimburse any person or municipality for expenditures made or expenses incurred prior to the adoption of a local economic development strategy or to substitute for local government expenditures for existing and continuing public services. The department shall adopt rules to carry out the provisions of this subsection.
(4) After consulting with representatives of communities or geographic areas, the department, by rule, shall adopt standards, objectives and criteria for the use and distribution of moneys in the Local Economic Opportunity Fund.
(5) The Local Economic Opportunity Fund is created to provide a flexible funding source for financing those locally determined programs and projects that may not be eligible for financing through other state and federal funding sources. [Formerly 285.650; 1999 c.509 §56; 2003 c.773 §25; 2007 c.354 §15; 2007 c.804 §67; 2009 c.830 §79]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.266 - Strategic Reserve Fund; uses.

(1) There is created a Strategic Reserve Fund, separate and distinct from the General Fund, to consist of all moneys credited thereto, including moneys from the Administrative Services Economic Development Fund, and all interest earned on the Strategic Reserve Fund. The fund is continuously appropriated to the Oregon Business Development Department to be used to implement statewide strategies for economic development.
(2) The fund shall not be used to retire any debt or, except upon approval of the Joint Ways and Means Committee or, if the Legislative Assembly is not in session, the Emergency Board, to pay administrative expenses of the department. Expenses that are project related shall not be considered to be administrative expenses of the department.
(3) The department is directed to place particular emphasis on investments that assist communities, businesses or industries in cost-effective projects that assist the creation, expansion and preservation of the principal traded sector industries of Oregon and encourage diversification and preservation of regional economies. The fund shall be used to assist economic and community development projects of public entities, industry groups or businesses with significant long-term, regional or statewide economic impacts, to provide interim financing mechanisms to augment existing public or private sector programs or to analyze statewide, long-term economic issues and opportunities. [Formerly 285.653; 1999 c.509 §19; 2009 c.830 §80]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.280 - Definition of "traded sector."

As used in ORS 285B.280 to 285B.286, unless the context requires otherwise, "traded sector" means industries in which member firms sell their goods or services into markets for which national or international competition exists. [Formerly 285.765; 2005 c.835 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.283 - Policy.

The Legislative Assembly declares that it is the policy of the State of Oregon:
(1) Working with private firms, industry associations and others, to encourage cooperative sector-based strategies to promote industrial competitiveness.
(2) That programs to develop particular industry sectors of this state’s economy, to the maximum extent feasible, include firms of all sizes. To promote that policy, the Oregon Business Development Department shall undertake efforts as are necessary to encourage representative participation by small firms under ORS 285B.280 to 285B.286.
(3) To emphasize industry development in those sectors of the economy in which Oregon firms face national and international competition.
(4) To provide an adequate supply of industrial and traded sector sites that are available for immediate development. [Formerly 285.767; 2003 c.800 §22; 2009 c.830 §81]