(1) This subsection applies to the period following a municipal corporation‘s adoption under ORS § 294.456 of a budget that does not include revenue from a proposed local option tax. If the municipal corporation places a local option tax measure on the ballot for an election held in August and the electors of the municipal corporation approve the measure, in order to impose the local option tax during the current fiscal year or current budget period, the governing body of the municipal corporation must:

Terms Used In Oregon Statutes 294.476

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

(a) Adopt an ordinance or resolution to determine, make and declare the local option tax and to categorize the local option tax amount or rate as provided in ORS § 310.060;

(b) Receive from the assessor of the county in which the municipal corporation is located (or, if the municipal corporation is located in more than one county, from the assessor of each county in which the municipal corporation is located) written approval to file a supplemental notice of property tax as described in ORS § 310.060 (9); and

(c) File with the assessor of the county in which the municipal corporation is located (or, if the municipal corporation is located in more than one county, with the assessor of each county in which the municipal corporation is located) two copies of the ordinance or resolution described in paragraph (a) of this subsection, two copies of the supplemental notice of property tax required under ORS § 310.060 and two copies of the approved local option tax measure.

(2) This subsection applies to the period following a municipal corporation’s adoption under ORS § 294.456 of a budget that does not include revenue from a proposed local option tax or taxes to pay principal and interest on exempt bonded indebtedness. If the municipal corporation places a local option tax measure or a general obligation bond measure on the ballot for an election, other than an election held in August, next following adoption of the budget and the electors of the municipal corporation approve the measure, in order to impose the tax during the second fiscal year of a biennial budget period, the governing body of the municipal corporation must:

(a) Adopt an ordinance or resolution to determine, make and declare the tax and to categorize the tax amount or rate as provided in ORS § 310.060; and

(b) Include with the certification required under ORS § 310.060 for the second fiscal year of the biennial budget period two copies of the ordinance or resolution described in paragraph (a) of this subsection and two copies of the approved local option tax measure or general obligation bond measure.

(3) Funds raised by a local option tax described in this section may not be expended by the municipal corporation unless the municipal corporation has adopted a supplemental budget in accordance with ORS § 294.471. Funds may be expended only in accordance with the supplemental budget so adopted.

(4) As soon as received, the county assessor shall forward one copy of each of the documents described in subsection (1)(c) of this section to the Department of Revenue. [Formerly 294.437; 2017 c.26 § 12; 2023 c.32 § 1]

 

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