Oregon SB1586 modifies tax credits for semiconductor research and advanced manufacturing, and amends tax breaks for enterprise zones and regionally.

Oregon SB1586 changes the tax credit for semiconductor research, allowing a credit against taxes for increases in qualified research expenses and basic research payments. It also establishes and modifies tax breaks for advanced manufacturing, enterprise zones, and regionally significant industrial sites. The bill directs certain state agencies to set deadlines for processing permit applications and to publish a catalog of permits issued. It adds rural reserves in Washington County for high-technology and advanced manufacturing purposes.

Oregon SB1586 modifies tax credits for semiconductor research and advanced manufacturing, and amends tax breaks for enterprise zones and regionally.

Oregon SB1586 changes the tax credit for semiconductor research, allowing a credit against taxes for increases in qualified research expenses and basic research payments. It also establishes and modifies tax breaks for advanced manufacturing, enterprise zones, and regionally significant industrial sites. The bill directs certain state agencies to set deadlines for processing permit applications and to publish a catalog of permits issued. It adds rural reserves in Washington County for high-technology and advanced manufacturing purposes.