Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 401 - RESEARCH AND DEVELOPMENT TAX CREDIT FOR SEMICONDCUTORS
Section 123-401-0100 - Purpose and Scope

(1) The 2023 Oregon Legislature passed chapter 298, Oregon Laws 2023 (Enrolled House Bill 2009), which establishes the Research and Development Tax Credit for Semiconductors. This is a new program to both recognize and further the important contributions of this industry to regional and national economies.

(2) These administrative rules specify elements of and provide guidance for the program developed by the Oregon Business Development Department pursuant to ORS 315.518 to 315.522 and sections 1, 5 to 8, and 12, chapter 289, Oregon Laws 2023 to administer the Research and Development Tax Credit for Semiconductors. To be eligible to claim this tax credit for tax year 2024, taxpayers had to submit a one-time registration form by December 1, 2023, and then apply for and obtain certification from the department. The same certification process is required annually for taxpayers seeking to claim the tax credit for subsequent tax years, but registration is not required.

(3) In administering this program and the certification process, the department will communicate and coordinate across state government as required or permitted by law, including sharing of information with the Oregon Department of Revenue.