OAR 150-317-0250: Long Term Enterprise Zone Distributions

(1) Distributions from the Long Term Enterprise Zone Fund to local taxing districts under ORS 317.131 include only corporate tax liability payments received prior to the department’s calculation of the distribution for the year. (2) Any reduction of corporate tax liability of a taxpayer for a tax year, which is recognized and accepted subsequent to the deposit of that taxpayer’s tax payments for the tax year into the Fund, will not be considered when determining the amount of the distribution to local taxing districts. (3) If the department errs when calculating the correct amount of a distribution, the department may adjust the erroneous distribution and may require the return of any erroneously distributed payments made to local taxing districts. (4) If the department requires the return of erroneously distributed payments made to local taxing districts; the department shall, if practicable, subtract the amount of the erroneously distributed payment to the local taxing district from the next distribution to the local taxing district. Otherwise, the department shall bill the local taxing district for any amount of an erroneously distributed payment that the department is unable to recover from the local taxing district by subtracting funds from the next distribution to the local taxing district.