In order for a taxpayer to claim the property tax exemption under ORS § 285C.409 or a corporate excise or income tax credit under ORS § 317.124:

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(1) The written agreement between the business firm and the rural enterprise zone sponsor that is required under ORS § 285C.403 (3)(c) must be entered into prior to the termination of the enterprise zone under ORS § 285C.245 or 285C.255 (1)(c); and

(2)(a) For the purpose of the property tax exemption, the business firm must obtain certification under ORS § 285C.403 on or before June 30, 2032; or

(b) For the purpose of the corporate excise or income tax credit, the business firm must obtain certification under ORS § 285C.403 on or before June 30, 2018. [Formerly 285C.406]