Oregon Statutes 317.131 – Distribution of funds to local governments
(1) For each tax year in which a taxpayer is allowed a credit under ORS § 317.124, the Department of Revenue shall distribute to the local taxing districts in which the facility that is the basis of the credit is located an amount of tax payments that corresponds to the amount of payments deposited under ORS § 317.129.
Terms Used In Oregon Statutes 317.131
- Department: means the Department of Revenue. See Oregon Statutes 317.010
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(2)(a) Amounts to be distributed under subsection (1) of this section shall be distributed to the local taxing districts of the code area in which the facility is located that are not school districts, education service districts, community college districts or community college service districts.
(b) If the facility is located in more than one code area, amounts to be distributed under subsection (1) of this section shall be allocated to each code area in which the facility is located, based on the ratio of the real market value of the facility in each code area to the total real market value of the facility.
(c) The amount distributed to each district under subsection (1) of this section shall be the amount that bears the same proportion to the total amount to be distributed under this section as the proportion of the operating tax billing rate of the district receiving distribution bears to the total operating tax billing rate of all of the local taxing districts described in paragraph (a) of this subsection.
(d) Notwithstanding paragraph (b) of this subsection, the amount distributed to a local taxing district under subsection (1) of this section for a fiscal year may not exceed the amount of property taxes forgone by that district as a result of the exemption from property tax under ORS § 285C.409 in that year.
(3) If any moneys described in subsection (1) of this section remain following computation of the distributions to local taxing districts under subsection (2) of this section, the moneys shall be distributed to the zone sponsor.
(4) Distributions shall be made under this section on or before June 1 of each fiscal year. [2001 c.292 § 12; 2005 c.667 § 6]
[Formerly 317.087; 1985 c.802 § 22; 1991 c.877 § 29; repealed by 1993 c.730 § 9 (315.134 enacted in lieu of 316.084, 317.133 and 318.080)]
[1991 c.928 § 4; repealed by 1993 c.730 § 25 (315.234 enacted in lieu of 316.133 and 317.134)]
[1987 c.682 § 5; 1989 c.625 § 20; 1991 c.457 § 11; 1991 c.877 § 31; repealed by 1993 c.730 § 21 (315.204 enacted in lieu of 316.134, 317.135 and 318.175)]
[1987 c.911 § 8d; 1991 c.877 § 32; repealed by 1993 c.730 § 37 (315.504 enacted in lieu of 316.104 and 317.140)]
[1991 c.859 § 6; repealed by 1993 c.730 § 27 (315.254 enacted in lieu of 316.151, 317.141 and 318.085)]
[1989 c.893 5,6; repealed by 1991 c.877 § 41]
[1989 c.924 § 4; 1991 c.858 § 11; 1991 c.877 § 33; repealed by 1993 c.730 § 11 (315.138 enacted in lieu of 316.139 and 317.145)]
[1989 c.963 § 4; 1991 c.766 § 4; 1991 c.877 § 34; repealed by 1993 c.730 § 19 (315.164 enacted in lieu of 316.154 and 317.146)]
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