Oregon Administrative Rules › Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT › Division 400 - OREGON CHIPS PROGRAM › Section 123-400-0020 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
For the purposes of this division of administrative rules, in
				addition to definitions found in OAR Chapter 123, Division 1 (Procedural Rules)
				and OAR 123-400-0010, the following
				terms have the meanings set forth below:
(1) "Agreement" means a program grant or loan
			 contract between the Department and a business for an approved application that
			 provides for the award amount from the fund and the terms of the contract. The
			 term agreement does not include a contract for an application assistance
			 grant.
(2) "Application" means the
			 Department-prescribed form which includes contents including but not limited to
			 those prescribed by section 2(1), chapter 25, Oregon Laws 2023, that an
			 applicant must submit to propose a project and to request a program grant or
			 loan, and also includes the supplemental attachments and exhibits that the
			 applicant completes or furnishes to the Department.
(3) "Application assistance grant" means a
			 grant to a business pursuant to section 1(4)(g), chapter 25, Oregon Laws 2023,
			 and as described in OAR
			 123-400-0050, to defray costs of
			 preparing an application to the U.S. Government for federal semiconductor
			 financial assistance.
(4) "Average
			 median income" as used in section 1(4)(f)(B), chapter 25, Oregon Laws 2023,
			 means an average of the median household income, from the most recently
			 available 5-year American Community Survey of the U.S. Census Bureau, for all
			 counties constituting the Department's regional service area in which the
			 project is located, as described at
https://www.oregon.gov/biz/
, and
			 weighted respective to the corresponding number of households in each
			 county.
(5) "Business" means a
			 person operating or conducting one or more trades or businesses as a private
			 entity or consortium of such entities, whether for profit or not, that is a
			 covered entity, notwithstanding other types of covered entities that would not
			 be a business.
(6) "Fund" means the
			 Oregon CHIPS Fund established under section 6, chapter 25, Oregon Laws
			 2023.
(7) "Grant and loan proceeds"
			 means all payments or disbursements made to the business from the Fund, less
			 the amount of any repayment, deduction or fee, and not including any
			 application assistance grant.
(8)
			 "Permanent, full-time positions" as used in section 1(4)(f)(A), chapter 25,
			 Oregon Laws 2023, means jobs, in which the employee is hired to work year-round
			 and is paid for more than 32 hours of the workweek on average during the course
			 of a year, and excludes any job that is temporary, seasonal, part-time (except
			 for job-share), or only for constructing or installing property.
(9) "Project" means the investments and
			 operations of a business that will or have used program grant and loan proceeds
			 from the Fund according to an agreement.
(10) "State and local revenue" as used in
			 section 1(4)(e), chapter 25, Oregon Laws 2023, means public revenue from taxes,
			 fees or other sources, whether paid by the business or not, that:
(a) Arise from direct or indirect economic
			 and fiscal impacts of the investment and operations of a project; and
(b) Can be accounted for with records or
			 estimated by the Department's modeling as accumulating to the government of
			 this state or of any local jurisdiction containing the project during the
			 period in which the agreement is in effect.
(c) Induced economic and fiscal impacts of
			 the investment and operations of a project will not be included in the
			 calculation of the state and local revenue generated.