Bill Text: OR HB3413 | 2011 | Regular Session | Engrossed

---

Bill Title: Relating to urban renewal.

Sponsorship: Committee Bill

Status: (Failed) 2011-06-30 - In committee upon adjournment. [HB3413 Detail]

Download: Oregon-2011-HB3413-Engrossed.html

---

     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 3535

                           A-Engrossed

                         House Bill 3413
                  Ordered by the House April 20
            Including House Amendments dated April 20

Sponsored by COMMITTEE ON GENERAL GOVERNMENT AND CONSUMER
  PROTECTION

                             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.

  Requires urban renewal agency to determine every year whether
maximum indebtedness of urban renewal plan will be fully paid
 { + or whether deposits in special fund will be sufficient to
fully pay principal and interest on maximum indebtedness + }
within subsequent 12-month period and, if so, to notify county
assessor.
    { - Directs Secretary of State to conduct audit of each urban
renewal agency every five years. Requires Secretary of State to
issue report to each respective agency and make all reports
available for public inspection. Requires each urban renewal
agency to reimburse Secretary of State for cost of conducting
respective audit. Requires Secretary of State to refer criminal
matters included in audit report to district attorney of county
where urban renewal area is located. Authorizes any person to
bring mandamus action against urban renewal agency for
noncriminal matters included in audit report. - }

                        A BILL FOR AN ACT
Relating to urban renewal; amending ORS 457.450.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 457.450 is amended to read:
  457.450. (1)(a) ORS 457.440 shall first apply to the assessment
roll next following the tax roll referred to in ORS 457.430 if
the assessor is provided notice of a plan adoption or amendment
changing area boundaries by the agency prior to January 1 before
the tax year to which the plan first applies.
  (b) If the assessor is not provided notice of plan adoption or
amendment changing area boundaries by the agency prior to January
1 before the tax year to which ORS 457.440 would otherwise first
apply, then ORS 457.440 shall first apply to the assessment roll
next following the assessment roll described in paragraph (a) of
this subsection.
    { - (2) When the principal and interest on the maximum
indebtedness of an urban renewal plan to which the portion of
taxes is irrevocably pledged for payment under ORS 457.435 or
457.440 is fully paid, or it is found that deposits in the
special fund are sufficient to fully pay principal and interest
on the maximum indebtedness either through direct payment of the
indebtedness or by payment of principal and interest on bonds or
notes issued to finance the indebtedness, the agency shall notify
the assessor of that fact. - }
   { +  (2)(a) Prior to June 30 before the tax year to which ORS
457.435 or 457.440 applies, each urban renewal agency shall
determine whether, within the subsequent 12-month period, the
maximum indebtedness of the urban renewal plan will be fully paid
or deposits in the special fund will be sufficient to fully pay
the principal and interest on the maximum indebtedness.
  (b) An urban renewal agency that makes an affirmative
determination pursuant to paragraph (a) of this subsection shall
notify the county assessor of the determination with the notice
required under ORS 457.440 (2). + }
  (3) All moneys remaining unexpended from the special fund
provided for in ORS 457.435 or 457.440, after payment of all the
principal and interest on indebtedness is provided for, shall be
turned over to the county treasurer by the agency and prorated by
the treasurer back to the taxing districts in which the area, or
part thereof, is located, in proportion to the amount of money in
the fund attributable to each taxing district for the last fiscal
year in which tax levy moneys were paid into the special fund of
the agency under ORS 457.435 or 457.440.
                         ----------