Bill Text: OR HB4150 | 2012 | Regular Session | Introduced

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

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Bill Title: Relating to the Credit Enhancement Fund; and declaring an emergency.

Spectrum: Partisan Bill (Democrat 30-1)

Status: (Passed) 2012-03-27 - Chapter 73, (2012 Laws): Effective date March 27, 2012. [HB4150 Detail]

Download: Oregon-2012-HB4150-Introduced.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2012 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 262

                         House Bill 4150

Sponsored by Representatives HOLVEY, READ; Representatives
  BAILEY, BEYER, BUCKLEY, DEMBROW, DOHERTY, FREDERICK, HUNT,
  KENY-GUYER, KOMP, KOTEK, MATTHEWS, NATHANSON, ROBLAN,
  SCHAUFLER, TOMEI, WITT, Senators HASS, MONNES ANDERSON, STEINER
  HAYWARD (Presession filed.)

                             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 as
introduced.

  Expands definition of qualified business eligible for credit
guarantees from Credit Enhancement Fund to include nontraded
sector business. Sunsets July 1, 2015.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to the Credit Enhancement Fund; creating new provisions;
  amending ORS 285B.200 and 285B.203; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 285B.200 is amended to read:
  285B.200. As used in ORS 285B.200 to 285B.218:
  (1) 'Brownfield' or 'brownfields' has the meaning given that
term in ORS 285A.185.
  (2) 'Eligible project costs' includes productive equipment and
machinery, working capital for operations and export transactions
and such other costs as the Oregon Business Development
Department by rule may provide.
  (3) 'Environmental action' has the meaning given that term in
ORS 285A.188.
  (4) 'Financial institution' includes institutions listed in ORS
706.008 and such other institutions defined by rule of the
department as financial institutions for purposes of ORS 285B.200
to 285B.218.
  (5) 'Qualified business' means any existing or proposed
business  { + located in this state + } that, except when located
within a distressed area  { - , - }  as defined by the department
 { - , sells goods or services in markets for which national or
international competition exists or that owns, occupies, operates
or has entered into an agreement to own, occupy or operate real
property containing a brownfield, as defined in ORS 285A.185. The
term includes professional services companies providing services
to traded sector industries and other entities within and outside
of this state. - }  { + :
  (a) Is a business that is not in a traded sector industry;
  (b) Sells goods or services in markets for which national or
international competition exists;

  (c) Owns, occupies, operates or has entered into an agreement
to own, occupy or operate real property containing a brownfield;
or
  (d) Is a professional service company that provides services to
traded sector industries and other entities within and outside of
this state.
  (6) 'Traded sector' has the meaning given that term in ORS
285B.280. + }
    { - (6) - }  { +  (7) + } 'Value-added agricultural products'
means agricultural products that have been processed, transformed
or refined to the point where they may be distributed to a final
consumer without further processing, transformation or refining.
The term also includes agricultural products that are processed,
transformed or refined for distribution to other than final
consumers when such processing, transformation or refining
represents a substantial increment in value as determined by the
Oregon Business Development Department in consultation with the
State Department of Agriculture.
  SECTION 2. ORS 285B.203 is amended to read:
  285B.203. The Legislative Assembly declares that it is the
purpose of the Credit Enhancement Fund to:
  (1) Create incentives and assistance to increase the flow of
private capital to   { - the - }   { + traded sector and
nontraded sector businesses and + } value-added agriculture
industries.
  (2) Promote industrial modernization and technology adoption.
  (3) Encourage the retention and creation of family wage jobs.
  (4) Encourage the export of goods and services by Oregon
businesses in international markets.
  (5) Encourage and promote the redevelopment of brownfields by
providing assistance to perform environmental action on
brownfield sites.
  SECTION 3. ORS 285B.200, as amended by section 1 of this 2012
Act, is amended to read:
  285B.200. As used in ORS 285B.200 to 285B.218:
  (1) 'Brownfield' or 'brownfields' has the meaning given that
term in ORS 285A.185.
  (2) 'Eligible project costs' includes productive equipment and
machinery, working capital for operations and export transactions
and such other costs as the Oregon Business Development
Department by rule may provide.
  (3) 'Environmental action' has the meaning given that term in
ORS 285A.188.
  (4) 'Financial institution' includes institutions listed in ORS
706.008 and such other institutions defined by rule of the
department as financial institutions for purposes of ORS 285B.200
to 285B.218.
  (5) 'Qualified business' means any existing or proposed
business located in this state that, except when located within a
distressed area as defined by the department { + , sells goods or
services in markets for which national or international
competition exists or that owns, occupies, operates or has
entered into an agreement to own, occupy or operate real property
containing a brownfield. 'Qualified business' includes
professional services companies providing services to traded
sector industries and other entities within and outside of this
state. + }  { - : - }
    { - (a) Is a business that is not in a traded sector
industry; - }
    { - (b) Sells goods or services in markets for which national
or international competition exists; - }
    { - (c) Owns, occupies, operates or has entered into an
agreement to own, occupy or operate real property containing a
brownfield; or - }
    { - (d) Is a professional service company that provides
services to traded sector industries and other entities within
and outside of this state. - }  { +
   + } (6) 'Traded sector' has the meaning given that term in ORS
285B.280.
  (7) 'Value-added agricultural products' means agricultural
products that have been processed, transformed or refined to the
point where they may be distributed to a final consumer without
further processing, transformation or refining. The term also
includes agricultural products that are processed, transformed or
refined for distribution to other than final consumers when such
processing, transformation or refining represents a substantial
increment in value as determined by the Oregon Business
Development Department in consultation with the State Department
of Agriculture.
  SECTION 4. ORS 285B.203, as amended by section 2 of this 2012
Act, is amended to read:
  285B.203. The Legislative Assembly declares that it is the
purpose of the Credit Enhancement Fund to:
  (1) Create incentives and assistance to increase the flow of
private capital to traded sector   { - and nontraded sector - }
businesses and value-added agriculture industries.
  (2) Promote industrial modernization and technology adoption.
  (3) Encourage the retention and creation of family wage jobs.
  (4) Encourage the export of goods and services by Oregon
businesses in international markets.
  (5) Encourage and promote the redevelopment of brownfields by
providing assistance to perform environmental action on
brownfield sites.
  SECTION 5.  { + The amendments to ORS 285B.200 and 285B.203 by
sections 3 and 4 of this 2012 Act become operative on July 1,
2015. + }
  SECTION 6.  { + This 2012 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2012 Act takes effect on its
passage. + }
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