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2015 Regular Session
Overview
At the request of:
Chief Sponsors:
Regular Sponsors:
Bill Title: Relating to central assessment; and prescribing an effective date.
Catchline/Summary: Grants property tax exemption to property of centrally assessed company in amount of positive value obtained by subtracting from real market value of company's real property and tangible and intangible personal property included in unit subject to central assessment, reduced by amount of certain elective exemptions, amount equal to historical or original cost of company's real property and tangible personal property included in unit subject to central assessment, without reduction for certain el
ective exemptions, multiplied by 130 percent. Provides amount of exemption may not exceed amount equal to 95 percent of real market value of company's real property and tangible and intangible personal property included in unit subject to central assessment. Grants property tax exemption to property of centrally assessed company if company completes and] builds, maintains and operates communication infrastructure project that meets certain service standards. Requires submission of application to Public Utility Commission with fee to be distributed equally to commission for costs of reviewing application and Department of Revenue for costs of appraising project property. Provides for exemption in amount of positive value obtained by subtracting from Oregon-allocated real market value of company's real property and tangible and intangible personal property included in unit subject to central assessment, reduced by Oregon-allocated amount of certain elective exemptions, amount equal to greater of $250 million or real market value of company's real and tangible personal property located in Oregon, without reduction for certain elective exemptions. Provides exemption granted for lesser of 20 consecutive property tax years or period during which company] owner maintains and operates communication infrastructure project. Provides, for company eligible for both property tax exemptions, Department of Revenue shall compute property taxes on property under both exemptions and impose taxes that result in least amount of] appraise company's property using provisions of exemption that result in lowest taxable value. Requires Public Utility Commission to report on property tax exemptions] communication infrastructure project exemption to interim committees of Legislative Assembly related to revenue no later than February 1 of each year. Allows company that owns, leases or uses licenses granted by Federal Communications Commission, franchises used in business of communication or satellites used to provide communication services directly to retail customers and licenses granted by Federal Communications Commission related to use of satellites, to elect one of above types of property for property tax exemption. Provides value of property shall equal cost of property carried in accounting records of owner, less accrued depreciation reserve. Provides that value of franchises allocated to Oregon shall be subtracted from assessed value of company's property.] Removes, for purposes of exclusion from central assessment, requirement that data center company have tax abatement agreement with sponsors of enterprise zone. Clarifies that statute applies only to company in business of communication. Raises maximum allowable percentage of cost of property other than data center property and changes base to cost of property used in business of communication. Specifies certain noncommunication-related property excluded from determination of maximum allowable percentage. Provides that company is not subject to central assessment solely because company manufactures or sells property used by any person in communication. Provides for local assessment of data center property used or held for future use by company whose property is not centrally assessed or by company Takes effect on 91st day following adjournment sine die.
Chapter Number: Chapter 023
Fiscal Impact: Fiscal Impact Issued
Revenue Impact: Revenue Impact Issued
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: Chapter Number Assigned
Current Committee:
Current Subcommittee:
Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
Scheduled Events