Bill Text: OR HB2949 | 2011 | Regular Session | Introduced

Oregon House Bill 2949 (Prior Session Legislation)

Introduced

Bill Title: Relating to incentive programs for cleanup of hazardous substances; appropriating money.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2011-06-30 - In committee upon adjournment. [HB2949 Detail]

Download: Oregon-2011-HB2949-Introduced.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 1707

                         House Bill 2949

Sponsored by Representative FREDERICK; Representatives BAILEY,
  BARKER, READ (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.

  Provides credit against income taxes for taxpayer creating jobs
for certain removal and remedial actions. Applies to tax years
beginning on or after January 1, 2011.
  Requires Department of Environmental Quality to establish grant
and loan program for certain removal and remedial actions.
Establishes Industrial Sites Cleanup Fund. Continuously
appropriates moneys in fund to department. Specifies uses of
moneys. Appropriates moneys from General Fund to department for
grant and loan program.

                        A BILL FOR AN ACT
Relating to incentive programs for cleanup of hazardous
  substances; and appropriating money.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Section 2 of this 2011 Act is added to and made
a part of ORS chapter 315. + }
  SECTION 2. { +  (1) A credit in the amount of $1,000 against
the taxes otherwise due under ORS chapter 316 or, if the taxpayer
is a corporation, under ORS chapter 317 or 318 shall be allowed
to a taxpayer who:
  (a) Creates 25 or more jobs during a removal or remedial action
under ORS 465.200 to 465.545 and 465.900; or
  (b) Increases the number of jobs by 30 percent over a
three-year period during a removal or remedial action under ORS
465.200 to 465.545 and 465.900.
  (2) A nonresident shall be allowed the credit under this
section in the proportion provided under ORS 316.117.
  (3) If a change in the taxable year of a taxpayer occurs as
described in ORS 314.085, or if the Department of Revenue
terminates the taxpayer's taxable year under ORS 314.440, the
credit allowed under this section shall be prorated or computed
in a manner consistent with ORS 314.085.
  (4) If a change in the status of a taxpayer from resident to
nonresident or from nonresident to resident occurs, the credit
allowed under this section shall be determined in a manner
consistent with ORS 316.117.
  (5) A credit may not be allowed under this section unless the
Department of Environmental Quality has certified the taxpayer's
eligibility to claim the credit. The Department of Environmental
Quality, in consultation with the Department of Revenue, shall
determine by rule procedures for certification and shall maintain
records of certifications in its offices. If requested by the
Department of Revenue, the taxpayer or the Department of
Environmental Quality shall file proof of the tax credit
certification with the Department of Revenue. + }
  SECTION 3.  { + Section 2 of this 2011 Act applies to tax years
beginning on or after January 1, 2011. + }
  SECTION 4. { +  (1) The Department of Environmental Quality
shall establish a grant and loan program to provide grants and
loans to provide up to 75 percent of the cost of an environmental
study and cleanup plan that is related to a removal or remedial
action under ORS 465.200 to 465.545 and 465.900.
  (2) The department shall:
  (a) Design the grants and loans specified in subsection (1) of
this section to protect public health, safety and the
environment; and
  (b) Award the grants and loans based on a demonstration of
financial hardship.
  (3) The Environmental Quality Commission may adopt rules to
carry out the provisions of this section, including but not
limited to rules that establish criteria for designing and
awarding grants and loans under this section. + }
  SECTION 5.  { + (1) The Industrial Sites Cleanup Fund is
established in the State Treasury, separate and distinct from the
General Fund. Interest earned by the Industrial Sites Cleanup
Fund shall be credited to the fund. Moneys in the fund are
continuously appropriated to the Department of Environmental
Quality to support the grant and loan program established under
section 4 of this 2011 Act.
  (2) The department may accept grants, donations, contributions
or gifts from any source for deposit in the Industrial Sites
Cleanup Fund.
  (3) The Industrial Sites Cleanup Fund shall consist of:
  (a) Moneys accepted by the department pursuant to subsection
(2) of this section.
  (b) Any other moneys received by or appropriated to the
department to support the grant and loan program established
under section 4 of this 2011 Act. + }
  SECTION 6.  { + There is appropriated to the Department of
Environmental Quality, for the biennium beginning July 1, 2011,
out of the General Fund, the amount of $_______ for the purpose
of carrying out the provisions of section 4 of this 2011 Act. + }
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