ORS 285C.225 Sponsor’s addendum; property schedule; amendments

An exemption claim filed under ORS 285C.220 must, when applicable, include a sponsor’s addendum setting forth any information required by the sponsor of the enterprise zone pursuant to ORS 285C.140 (5), 285C.150, 285C.155, 285C.160 or 285C.203.

For the first tax year for which qualified property is exempt under ORS 285C.175, the claim filed under ORS 285C.220 must include a property schedule listing the qualified property.

The business firm is required to include the property schedule described in subsection (2) of this section with a claim filed under ORS 285C.220 only once for any item of qualified property. The firm shall include additional property schedules with subsequent claims in order to claim exemption of additional qualified property that is pursuant to the same application for authorization.

The firm may not file an additional property schedule to claim an exemption for additional qualified property placed in service more than two years after the first year that qualified property of the firm was placed in service and subsequently granted exemption under ORS 285C.175, except pursuant to another authorization application.

The property schedule shall be set forth on a form prescribed by the Department of Revenue and shall contain:

A list of all qualified property that satisfies all requirements for exemption under ORS 285C.175 for the tax year for which the exemption is being claimed and that has not been exempt under ORS 285C.175 for a previous tax year;

For each item of property described in paragraph (a) of this subsection, the cost of the property and the date the property was placed in service;

Any information needed to determine compliance with any applicable requirements under ORS 285C.180, 285C.185 or 285C.190;

In the case of qualified property that is leased by the business firm, a signature on the property schedule or other evidence that the enterprise zone exemption is acknowledged by the owner of the leased property; and

Any other information required by the Department of Revenue.

The county assessor may allow the business firm to amend the property schedule to include any other item of qualified property described in subsection (4) of this section that was not listed on the original property schedule included in the claim filed for the assessment year. An amendment to the property schedule may not be made after June 1 of the assessment year.