(1) The Legislative Assembly finds that the standard procedure for authorization in an enterprise zone inappropriately deters development or redevelopment of qualified buildings on speculation for subsequent sale or lease to eligible business firms.

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(2) Notwithstanding ORS § 285C.140 (1), a new building or structure or an addition to or modification of an existing building or structure may qualify for the exemption allowed under ORS § 285C.175 if the qualified property is leased or sold by an unrelated party to one or more authorized business firms after commencement of the construction, addition or modification but prior to use or occupancy of the qualified property.

(3) A business firm may not be considered authorized and is not qualified for the exemption allowed under ORS § 285C.175 if the county assessor discovers prior to initially granting the exemption that the application for authorization was not submitted by the business firm in a timely manner in accordance with ORS § 285C.140, except as allowed under subsection (2) of this section or ORS § 285C.140 (11) and (12).

(4) Records, communications or information submitted to a public body by a business firm for purposes of ORS § 285C.050 to 285C.250 that identify a particular qualified property, that reveal investment plans prior to authorization, that include the compensation the firm provides to firm employees, that are described in ORS § 192.355 (17) or that are submitted under ORS § 285C.225 or 285C.235 are exempt from disclosure under ORS § 192.311 to 192.478 and, as appropriate, shall be shared among the county assessor, the zone sponsor, the Department of Revenue and the Oregon Business Development Department. [Formerly 285B.701; 2007 c.152 § 3]