Bill Text: OR HB2563 | 2011 | Regular Session | Engrossed

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to exemptions to property taxation; and prescribing an effective date.

Spectrum: Unknown

Status: (Passed) 2011-08-02 - Chapter 656, (2011 Laws): Effective date September 29, 2011. [HB2563 Detail]

Download: Oregon-2011-HB2563-Engrossed.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 2502

                           A-Engrossed

                         House Bill 2563
                   Ordered by the House June 8
             Including House Amendments dated June 8

Introduced and printed pursuant to House Rule 12.00. Presession
  filed (at the request of House Interim Committee on Revenue)

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.

    { - Creates and adjusts sunset dates for certain exemptions
to property taxation. Adjusts certain other dates relating to
exemptions to property taxation. - }
   { +  Extends sunset date for first year of exemption from ad
valorem property taxation for qualified machinery and equipment
of food processor. Allows late filing for exemption for tax year
beginning on July 1, 2011, upon submission of application,
required information and late filing fee. Authorizes abatement of
tax and interest if tax on exempt value is unpaid at time of late
filing and refund without interest if tax on exempt value is paid
at time of late filing. + }
  Takes effect on 91st day following adjournment sine die.

                        A BILL FOR AN ACT
Relating to exemptions to property taxation; creating new
  provisions; amending section 7, chapter 637, Oregon Laws 2005;
  and prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. Section 7, chapter 637, Oregon Laws 2005, is amended
to read:
   { +  Sec. 7. + }   { - Notwithstanding section 3 of this 2005
Act, - } Property may not qualify for a first year of exemption
under
  { - section 3 of this 2005 Act - }   { + ORS 307.455 + } for a
tax year beginning on or after July 1,   { - 2011 - }  { +
2013 + }.
  SECTION 2.  { + (1) A food processor may apply for exemption
under ORS 307.455 for the tax year beginning on July 1, 2011, by
submitting to the Department of Revenue on or before December 31,
2011, the application and information required under ORS 307.455
(2)(a) accompanied by the late filing fee required under ORS
307.455 (2)(b).
  (2) If tax on the exempt value has not been paid, the tax and
any interest are abated.
  (3) If tax on the exempt value has been paid, the tax collector
shall notify the governing body of the county of the refund
required under ORS 307.455. Upon receipt of notice from the tax
collector, the governing body shall cause a refund of the tax and
any fee and interest paid to be made from the refund reserve
account, if the county has established a refund reserve account
under ORS 311.807, or from the unsegregated tax collections
account described in ORS 311.385. The refund under this
subsection shall be made without interest. The county assessor
and tax collector shall make the necessary corrections in the
records of their offices. + }
  SECTION 3.  { + This 2011 Act takes effect on the 91st day
after the date on which the 2011 regular session of the
Seventy-sixth Legislative Assembly adjourns sine die. + }
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