OAR 123-400-0020: Definitions

For the purposes of this division of administrative rules, in addition to definitions found in OAR Chapter 123, Division 1 (Procedural Rules) and OAR 123-400-0010, the following terms have the meanings set forth below: (1) “Agreement” means a program grant or loan contract between the Department and a business for an approved application that provides for the award amount from the fund and the terms of the contract. The term agreement does not include a contract for an application assistance grant. (2) “Application” means the Department-prescribed form which includes contents including but not limited to those prescribed by section 2(1), chapter 25, Oregon Laws 2023, that an applicant must submit to propose a project and to request a program grant or loan, and also includes the supplemental attachments and exhibits that the applicant completes or furnishes to the Department. (3) “Application assistance grant” means a grant to a business pursuant to section 1(4)(g), chapter 25, Oregon Laws 2023, and as described in OAR 123-400-0050, to defray costs of preparing an application to the U.S. Government for federal semiconductor financial assistance. (4) “Average median income” as used in section 1(4)(f)(B), chapter 25, Oregon Laws 2023, means an average of the median household income, from the most recently available 5-year American Community Survey of the U.S. Census Bureau, for all counties constituting the Department’s regional service area in which the project is located, as described at https://www.oregon.gov/biz/, and weighted respective to the corresponding number of households in each county. (5) “Business” means a person operating or conducting one or more trades or businesses as a private entity or consortium of such entities, whether for profit or not, that is a covered entity, notwithstanding other types of covered entities that would not be a business. (6) “Fund” means the Oregon CHIPS Fund established under section 6, chapter 25, Oregon Laws 2023. (7) “Grant and loan proceeds” means all payments or disbursements made to the business from the Fund, less the amount of any repayment, deduction or fee, and not including any application assistance grant. (8) “Permanent, full-time positions” as used in section 1(4)(f)(A), chapter 25, Oregon Laws 2023, means jobs, in which the employee is hired to work year-round and is paid for more than 32 hours of the workweek on average during the course of a year, and excludes any job that is temporary, seasonal, part-time (except for job-share), or only for constructing or installing property. (9) “Project” means the investments and operations of a business that will or have used program grant and loan proceeds from the Fund according to an agreement (10) “State and local revenue” as used in section 1(4)(e), chapter 25, Oregon Laws 2023, means public revenue from taxes, fees or other sources, whether paid by the business or not, that: (a) Arise from direct or indirect economic and fiscal impacts of the investment and operations of a project; and (b) Can be accounted for with records or estimated by the Department’s modeling as accumulating to the government of this state or of any local jurisdiction containing the project during the period in which the agreement is in effect.