Relating to economic development; and prescribing an effective date.

Added a specific restriction preventing the use of the enterprise zone program for data centers.

Removed the language appropriating money to the Oregon Business Development Department for the Industrial Site Loan Fund from the digest summary.

Changed the digest description regarding tax credits to specify modifications for taxpayers creating new jobs, rather than simply giving money.

The date the bill was ordered by the House was changed from February 12 to February 23, and the record of included amendments was updated to reflect the new amendment date of February 23.

Capital investment thresholds were lowered from $150 million to $100 million for urban projects, from $100 million to $50 million for nonurban projects, and from $50 million to $25 million for nonurban projects.

The eligibility criterion for regulatory approvals was changed from requiring approvals from 'at least two' agencies to requiring 'more than one' approval from a single agency or multiple agencies.

The application submission process was changed; applicants now submit directly to the Council instead of the Governor's office, and the Council reviews eligibility before forwarding to the Regional Solutions Program.

The requirement for a 'preapplication consultation' was replaced with a condition that the project must not require renewals of existing permits.

Council membership was restructured to remove 14 specific agency representatives and replace them with two members possessing general knowledge and experience in economic development.