Bill > HB2725

This bill modifies Oregon's strategic investment program by expanding the definition of "affected ports" and adjusting procedures for property tax exemptions. Specifically, the bill defines an "affected port" as either a port district located east of the westernmost Columbia River dam or a port district that owns land where a proposed eligible project will be located. The bill requires that when a county seeks a property tax exemption for a project, it must obtain approval from a majority of its governing body members and enter into an agreement with the business firm after a public hearing. This agreement must include a fee payment equal to 25% of the property taxes that would have been due, not exceeding $3 million annually, which will be adjusted each year based on the Consumer Price Index. The bill also specifies that the fee distribution requires agreement from the county, city or port, special districts providing public safety services, and local taxing districts representing at least 75% of the property tax authority in the project's code area. The changes will apply to requests made on or after the bill's effective date, which is the 91st day after the 2025 legislative session adjourns.

Budget and Finance, Transportation and Infrastructure

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2725