Oregon 2023 Regular Session

Oregon Senate Bill SB134

Introduced
1/9/23  
Refer
1/15/23  
Refer
3/6/23  
Refer
3/6/23  

Caption

Relating to enterprise zones.

Impact

If enacted, SB134 would amend existing state laws regarding economic development programs, specifically concerning enterprise zones. The bill seeks to provide local governments with more flexibility in creating incentives that align with their specific economic conditions. It aims to enhance the ability of communities to respond to their unique challenges by allowing for tailored economic development strategies. By empowering local entities to take charge of these designations, the bill envisions a more proactive approach to economic revitalization, potentially leading to increased local employment and investment opportunities.

Summary

SB134 addresses the establishment and management of enterprise zones aimed at stimulating economic growth in specific regions. The bill proposes a framework within which local governments can collaborate with state agencies to designate areas eligible for special tax incentives aimed at attracting businesses. The intent is to facilitate investments in underdeveloped or economically disadvantaged areas, thus promoting job creation and economic revitalization. The bill supports the notion that targeted economic development strategies are essential for regions that traditionally struggle to attract business investment.

Sentiment

The sentiment surrounding SB134 appears to be largely supportive among stakeholders who advocate for economic development through localized control. Proponents argue that the bill will enable regions to tailor their economic strategies more effectively and respond to specific needs. However, there are also concerns from detractors who fear that the bill may disproportionately benefit larger corporations at the expense of local small businesses and community needs. The debate revolves around finding a balance between incentivizing growth while ensuring equitable benefits across all community businesses.

Contention

Notable points of contention regarding SB134 include concerns related to the potential for misuse of tax incentives and the effectiveness of such zones in truly reviving local economies. Critics question whether the promised economic benefits will materialize or if they will lead to transient job creation without substantive long-term improvements. Additionally, discussions about the criteria for designation of enterprise zones have raised the issue of transparency and fairness in the selection process, with calls for clearer guidelines to prevent favoritism or misallocation of resources.

Companion Bills

No companion bills found.

Previously Filed As

OR HB2060

Relating to enterprise zones.

OR SB880

Relating to enterprise zones.

OR HB2199

Relating to enterprise zones; prescribing an effective date.

OR SB135

Relating to rural enterprise zone property tax exemption; prescribing an effective date.

OR HB3078

Relating to the designation of enterprise zones; declaring an emergency.

OR SB133

Relating to construction-in-process exemption; prescribing an effective date.

OR HB2061

Relating to rural enterprise zone property tax exemption; prescribing an effective date.

OR HB2059

Relating to construction-in-process exemption; prescribing an effective date.

OR HB2517

Relating to cannabis businesses in enterprise zones; prescribing an effective date.

OR HB3286

Relating to economic incentives; prescribing an effective date.

Similar Bills

No similar bills found.