Relating to property tax exemption for seismic retrofitting costs; and prescribing an effective date.
It became law on Oct 17, 2017.
- Stage
- Became law
- Started in
- Senate
- Latest action
- Oct 17, 2017
What it does
Authorizes city or county to adopt ordinance or resolution providing property tax exemption to commercial, industrial and multifamily buildings built before January 1, 1993, that will be seismically retrofitted, for period not to exceed 15 years. Defines "eligible costs" to mean costs directly related to work necessary to seismically retrofit eligible property incurred after application for exemption has been approved. Caps dollar amount of exemption at specified eligible costs to seismically retrofit building. Authorizes city or county to impose other restrictions and conditions that do not conflict with Act. Provides that ordinance or resolution becomes effective only if rates of taxation…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
It is law in Oregon. What happens now is up to the agency that carries it out, the courts, and the place itself.