(2) Notwithstanding subsection (1) of this section:
(a) The adjusted annual revenue limit amount specified in ORS 285B.746 (2)(a) may not be less than $500,000.
(b) The adjusted maximum loan amount specified in ORS 285B.749 (2) may not be less than $100,000. [2021 c.20 §6]
Note: Section 3, chapter 20, Oregon Laws 2021, provides:
Sec. 3. Sections 4 and 6 of this 2021 Act are added to and made a part of ORS 285B.740 to 285B.758. [2021 c.20 §3]
Note: 285B.753 requires indexing of the annual revenue limit amount specified in ORS 285B.746 (2)(a), as amended by section 25, chapter 10, Oregon Laws 2020 (second special session), and the maximum loan amount specified in ORS 285B.749 (2), as amended by section 27, chapter 10, Oregon Laws 2020 (second special session), beginning with the 2025 calendar year. Section 4, chapter 20, Oregon Laws 2021, requires indexing of the annual revenue limit amount specified in ORS 285B.746 (2)(a), as amended by section 24, chapter 10, Oregon Laws 2020 (second special session), and the maximum loan amount specified in ORS 285B.749 (2), as amended by section 26, chapter 10, Oregon Laws 2020 (second special session), for calendar years 2023 and 2024, and is repealed January 2, 2025. See section 5, chapter 20, Oregon Laws 2021. The text of section 4, chapter 20, Oregon Laws 2021, is set forth for the user’s convenience.
Sec. 4. (1) Beginning with the 2023 calendar year, the Oregon Business Development Department shall annually adjust the annual revenue limit amount specified in ORS 285B.746 (2)(a) and the maximum loan amount specified in ORS 285B.749 (2) by multiplying each amount by the percentage change in the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor, for the 12 consecutive months ending on the immediately preceding December 31 compared to the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), for the 12 consecutive months ending on December 31, 2021.
(2) Notwithstanding subsection (1) of this section:
(a) The adjusted annual revenue limit amount specified in ORS 285B.746 (2)(a) may not be less than $1,500,000.
(b) The adjusted maximum loan amount specified in ORS 285B.749 (2) may not be less than $250,000. [2021 c.20 §4]