Or. Admin. R. 123-400-0090

Current through Register Vol. 63, No. 8, August 1, 2024

Section 123-400-0090 - [Effective 11/25/2024] Revenue and Employment Requirements

(1) The agreement shall specify whether fulfilment of program requirements to avoid repayment of program grant or loan proceeds is primarily determined by satisfaction of section 1(4)(e) or 1(4)(f), chapter 25, Oregon Laws 2023, namely:

(a) by fulfilling the required return on investment ("ROI") in terms of state and local revenue associated with the project and respective to the amount of program grant or loan proceeds received by the business; or

(b) by fulfilling the creation of qualifying new jobs in Oregon associated with the project.

(2) The agreement may allow for amendment and subsequent reassignment of the selection of paragraph (1)(a) or (b) of this rule under limited circumstances.

(3) For the ROI measure provided in paragraph (1)(a) of this rule, a business must meet the obligations as provided in the agreement, which shall equal or exceed the obligations of section 1(4)(e), chapter 25, Oregon Laws 2023.

(4) For the job creation measure provide in paragraph (1)(b) of this rule, a business must meet the obligations in the agreement, which shall equal or exceed the obligations of section 1(4)(f), chapter 25, Oregon Laws 2023.

Or. Admin. R. 123-400-0090

OBDD 32-2023, adopt filed 11/27/2023, effective 11/29/2023; OBDD 11-2024, temporary amend filed 05/30/2024, effective 5/30/2024 through 11/25/2024

Statutory/Other Authority: ORS 285A.075 & OR Laws 2023 ch. 25 §§1, 2 & 5

Statutes/Other Implemented: OR Laws 2023 ch. 25 §§1, 2 & 5