Help Save Oregon a Big Bundle
Tell your legislators to save Oregon $100 million by eliminating Gain Share.
Few people know about Gain Share. Yet it could take nearly a $100 million from the Oregon General Fund next biennium – money that could support education and human services throughout Oregon.
$100 Million To One County
The original purpose of the Gain Share program was to compensate counties that give up property taxes to big businesses. The 2007 Legislature agreed to give an affected county 50% of the State income tax paid by employees of the businesses involved. This biennium, 99% of the tax revenue distributed through Gain Share went to Washington County for property tax breaks given to Intel and Genentech.
If Gain Share is not ended this session, the projected cost is nearly a hundred million over the next two years, almost all of which will again go to Washington County.
Nothing For Most Counties
This giveaway is not fair. For example, other cities and counties have many employees working in buildings on which NO property taxes are paid and yet they receive no rebated income taxes:
- Eugene: 60,000 State college students and professors
- Salem: 21,000 State employees
- Douglas county: 1200 employees of private businesses that pay no property taxes as they are located in enterprise zones.
Gain Share Supports Huge Corporations, Not School Children
Meanwhile, Washington County has 18,000 Intel and Genentech employees working in various properties that DO pay property taxes. And so even though the property taxes of these giant corporations were reduced by Strategic Investment Program (known as SIP) agreements, Genentech and Intel still paid $41.3 million in local property taxes and fees last year. Washington County nevertheless received a Gain Share payment of $37.8 million from the General Fund!
Gain Share is not logical. It is unfair to the rest of the State—a mistake made in 2007 that should be discontinued. A simple majority vote this session would save almost enough for five days of school statewide! Tell your legislators to end Gain Share.