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OREGON BUSINESS DEVELOPMENT DEPARTMENT

 





DIVISION 9
OREGON BUSINESS, INNOVATION AND TRADE FUND




 
123-009-0050
Purpose
The Oregon Business, Innovation and Trade Fund is established by ORS 285A.227 as a means to provide the Oregon Business Development Department with flexibility in funding and decision-making to respond to economic development needs on a statewide and regional basis.
Stat. Auth.: ORS 285A.075 & 285A.227(2)

Stats. Implemented: ORS 285A.227

Hist.: EDD 3-1998, f. & cert. ef. 2-26-98; EDD 4-1999(Temp), f. & cert. ef. 8-5-99 thru 2-1-00; EDDS 5-2000, f. & cert. ef. 2-7-00; EDD 11-2009, f. & cert. ef. 10-1-09
123-009-0060
Definitions
For the purposes
of these rules additional definitions may be found in Procedural Rules, OAR 123-001.
As used in this division of administrative rules, unless the context requires otherwise
the following definitions apply:
(1) Fund
means the Oregon Business, Innovation and Trade Fund established in ORS 285A.227,
which includes lottery funding for grant and loan programs and contracted services
and all interest earnings that accrue to the Fund.
(2) "Allocation
Plan" means the distribution plan of the legislatively authorized Fund biennial
budget.
Stat. Auth.: ORS
285A.075 & 285A.227(2)

Stats. Implemented:
ORS 285A.227

Hist.: EDD
3-1998, f. & cert. ef. 2-26-98; EDD 4-1999(Temp), f. & cert. ef. 8-5-99
thru 2-1-00; EDDS 5-2000, f. & cert. ef. 2-7-00; EDD 2-2008, f. & cert.
ef. 1-2-08; EDD 12-2008(Temp), f. & cert. ef. 3-28-08 thru 9-23-08; EDD 16-2008,
f. & cert. ef. 6-4-08; EDD 11-2009, f. & cert. ef. 10-1-09; OBDD 1-2013,
f. & cert. ef. 1-2-13
123-009-0070
Commission Allocations
(1) The Commission shall distribute resources in the Fund within the policies and priorities set by the Legislature and pursuant to ORS 285A.020, 285A.045 and 285A.055.
(2) In the event of a shortfall of lottery funds, reductions will occur as prescribed by the Legislature and based on recommendations of the Commission.
Stat. Auth.: ORS 285A.075 & 285A.227(2)

Stats. Implemented: ORS 285A.227

Hist.: EDD 3-1998, f. & cert. ef. 2-26-98; EDD 4-1999(Temp), f. & cert. ef. 8-5-99 thru 2-1-00; EDDS 5-2000, f. & cert. ef. 2-7-00
123-009-0080
Commission Responsibilities
(1) The Commission shall review and approve a biennial Allocation Plan for the Fund.
(2) The Commission shall be responsible for making allocations from the Fund and may adjust these allocations based on need. In the event of lottery revenue shortfalls, the Commission may adjust allocations in accordance with any Legislative direction and recommendations of the Commission.
Stat. Auth.: ORS 285A.075, 285A.227(2)

Stats. Implemented: ORS 285A.227

Hist.: EDD 3-1998, f. & cert. ef. 2-26-98; EDD 4-1999(Temp), f. & cert. ef. 8-5-99 thru 2-1-00; EDDS 5-2000, f. & cert. ef. 2-7-00; EDD 2-2008, f. & cert. ef. 1-2-08; EDD 12-2008(Temp), f. & cert. ef. 3-28-08 thru 9-23-08; EDD 16-2008, f. & cert. ef. 6-4-08
123-009-0090
Criteria for Allocations
The Commission shall
make biennial allocations from the Fund based on the following criteria:
(1) Funding
shall be based on the principles established in ORS 285A.020, 285A.045 and 285A.055
to further business and economic development.
(2) Funds
may be reserved and allocated to address opportunity-driven investments, projects
and unanticipated needs.
(3) Consideration
may be given to eliminating or combining funding for programs in allocations.
Stat. Auth.: ORS
285A.075 & 285A.227(2)

Stats. Implemented:
ORS 285A.227

Hist.: EDD
3-1998, f. & cert. ef. 2-26-98; EDD 4-1999(Temp), f. & cert. ef. 8-5-99
thru 2-1-00; EDDS 5-2000, f. & cert. ef. 2-7-00; EDD 2-2008, f. & cert.
ef. 1-2-08; EDD 12-2008(Temp), f. & cert. ef. 3-28-08 thru 9-23-08; EDD 16-2008,
f. & cert. ef. 6-4-08; OBDD 1-2013, f. & cert. ef. 1-2-13
123-009-0100
Director's Review and Approval of Awards under Allocation Plan
Once allocations from the Fund have been made by the Commission, the Director shall have final project funding approval unless otherwise delegated. All project funding shall be consistent with Commission allocations.
Stat. Auth.: ORS 285A.075, 285A.227(2)

Stats. Implemented: ORS 285A.227

Hist.: EDD 3-1998, f. & cert. ef. 2-26-98; EDD 4-1999(Temp), f. & cert. ef. 8-5-99 thru 2-1-00; EDDS 5-2000, f. & cert. ef. 2-7-00

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