Counties, cities hit in rebate debate
Published on Wednesday, September 12, 2012 | Written by Jim Redden
Local leaders balk as lawmaker seeks cuts to job creation fund
An influential Portland-area legislator thinks local and regional governments are owed too much money from state income taxes collected as part of their economic development efforts.
State Sen. Ginny Burdick, who represents Southwest Portland and parts of Washington County, wants the 2013 Legislature to reconsider how the state repays cities, counties and special districts that waive their property taxes to
attract new jobs.
The state has not made any such payments yet because of a possible legal glitch in the program created by the 2007 Oregon Legislature. Called Gain Share, it requires that 50 percent of the state income taxes generated by new jobs that qualify for the program be sent back to the local and regional governments.
Burdick says the potential cost is more than the Legislature estimated, however. She believes the distribution formula should be recalculated.
by: PAMPLIN MEDIA GROUP: CHASE ALLGOOD - Portland-area State Sen. Ginny Burdick thinks the state owes Washington County governments too much money for their economic development work in support of Intel's D1X
fabrication plant and other job-creating projects.
More of the Article at the Portland Tribune:
http://portlandtribune.com/pt-rss/9-news/115049-counties-cities-hit-in-rebate-debate
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Published on Wednesday, September 12, 2012 | Written by Jim Redden
Local leaders balk as lawmaker seeks cuts to job creation fund
An influential Portland-area legislator thinks local and regional governments are owed too much money from state income taxes collected as part of their economic development efforts.
State Sen. Ginny Burdick, who represents Southwest Portland and parts of Washington County, wants the 2013 Legislature to reconsider how the state repays cities, counties and special districts that waive their property taxes to
attract new jobs.
The state has not made any such payments yet because of a possible legal glitch in the program created by the 2007 Oregon Legislature. Called Gain Share, it requires that 50 percent of the state income taxes generated by new jobs that qualify for the program be sent back to the local and regional governments.
Burdick says the potential cost is more than the Legislature estimated, however. She believes the distribution formula should be recalculated.
by: PAMPLIN MEDIA GROUP: CHASE ALLGOOD - Portland-area State Sen. Ginny Burdick thinks the state owes Washington County governments too much money for their economic development work in support of Intel's D1X
fabrication plant and other job-creating projects.
More of the Article at the Portland Tribune:
http://portlandtribune.com/pt-rss/9-news/115049-counties-cities-hit-in-rebate-debate
Related Posts:
Oregon's economy concerns leaders
Economic stability of Oregon families sinks to bottom 10 nationally
Ron Paul on Congress voting overwhelmingly to audit the Federal Reserve
SOS OR Counties 2012 Financial Condidtion Review 2012-17
The Recesion Has Not Ended for Private Sector Employment
On Reason TV, Andrew Ferguson Discusses the Parasite Economy of Washington, DC
Study: More Than Half a Trillion Dollars Spent on Welfare But Poverty Levels Unaffected
Everything you know about economics is wrong
Oregon Ranks 45th for Economic Outlook
Collapsing Local Government
10 Worst States for Business 2012
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