Food processing property tax break extension advances (Capital Press)

SALEM -- A legislative committee on March 14 unanimously passed a bill to extend Oregon's food processing property tax exemption on newly purchased equipment.

The five-year property tax exemption on newly acquired machinery or equipment was set to expire this year. House Bill 2735 extends the exemption to 2020.

The exemption was first established in 2005.

The exemption helped spur investment during the Great Recession, improves Oregon's tax revenue and helps keep food processors in Oregon, according to testimony from Northwest Food Processors Association in an earlier hearing.

The industry's total payroll grew by $91 million, a 25 percent increase, from 2007 to 2011, the industry said.

"Middle class families benefit from this growth, and the money is then reinvested directly back into local communities by consumers," said James Curry of the food processors association.

"The exemption should be continued because it is working," Curry said.

The House Revenue Committee moved the bill to the House floor with a do-pass recommendation.

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Source: http://www.capitalpress.com/content/ml-food-processor-tax-bill-031513