Oregon Administrative Rules
Chapter 330 - DEPARTMENT OF ENERGY
Division 90 - BUSINESS ENERGY TAX CREDITS (BETC)
Section 330-090-0160 - Sunset of the Business Energy Tax Credit Program
Universal Citation: OR Admin Rules 330-090-0160
Current through Register Vol. 63, No. 9, September 1, 2024
(1) ORS 315.357 contains the sunset of the Business Energy Tax Credit Program. Applicants must meet the deadlines that apply to their project:
(a) Applicants with a
preliminary certification that are unable to demonstrate evidence of beginning
construction before April 15, 2011 must receive final certification before
January 1, 2013. The Director does not guarantee that a complete final
certification application received on or after November 1, 2012 will be
processed before January 1, 2013.
(b) Applicants with a preliminary
certification that are able to demonstrate evidence of beginning construction
before April 15, 2011 must receive final certification before July 1, 2014. The
Director does not guarantee that a complete final certification application
received on or after May 1, 2014 will be processed before July 1,
2014.
(c) Applicants with a
preliminary certification that expires before the July 1, 2014, sunset must
request an extension for the preliminary certification pursuant to OAR
330-090-0130(9) or submit the final certification application before the
expiration date of the preliminary certificate. There is no automatic extension
or waiver for preliminary certifications that expire before the sunset
date.
(2) Applicants with a preliminary certification may apply to the department to demonstrate that construction of the facility began before April 15, 2011.
(a) An application must include at least
these items:
(A) A brief update on the
progress of the facility.
(B) A
construction schedule showing the anticipated completion date.
(C) A statement that the facility will be
completed as approved in the preliminary certification.
(D) Evidence of beginning construction,
including but not limited to:
(i) A copy of an
approved building, grading or other permit issued for the facility, dated prior
to April 15, 2011.
(ii) Evidence of
site-specific construction activity, for the period on or after the later of
preliminary certification or building permit approval and before April 15,
2011.
(iii) Evidence of
facility-specific construction activity, for the period on or after preliminary
certification and before April 15, 2011.
(b) Evidence of site-specific construction
activity may include, but is not limited to:
(A) Paid invoices for completed construction
activity.
(B) Timesheets for
construction activities linked to the facility site.
(C) Paid rental documentation for
construction equipment.
(D) A
written report from the project engineer or installer signed under penalties of
perjury describing the work that had commenced before April 15, 2011.
(c) Evidence of facility-specific
construction activity may include, but is not limited to:
(A) Paid invoices for facility-specific
assembly or manufacturing activity.
(B) Timesheets for assembly or manufacturing
activities linked to the facility.
(C) A written report from the project
engineer or manufacturer signed under penalties of perjury describing the work
that had commenced before April 15, 2011.
(d) Applications must be received by the
department before October 1, 2012.
(e) The Department will review the provided
information and respond to the application within 60 days. As part of its
determination, the department may request additional information from the
applicant and may perform inspections.
(A) The
department will issue a written acceptance letter to applicants who are able to
demonstrate evidence of beginning construction. The acceptance letter will
state the date by which the applicant must receive final certification to be
allowed a credit under ORS
315.354.
(B) The department will issue a letter to
applicants who have not provided sufficient evidence of beginning of
construction providing reasons for the denial.
(3) Transfer of tax credits issued to an applicant. In this section, a transferee means an individual or business that pays the pass-through amount to an applicant that has been issued the tax credit certificate, and receives a re-issued tax credit certificate in place of the original applicant.
(a) An applicant who
has been issued a tax credit certificate may transfer the tax credit to an
eligible transferee through the department process provided by these rules,
provided the transfer occurs within 24 months of the issuance of the original
tax credit certificate and after the applicable sunset date for the related
facility in ORS 315.357. Prior to the applicable
sunset date for the related facility, applicants may use the pass-through to
transfer their tax credit.
(b) If
an applicant uses any portion of the tax credit it may not be transferred, in
accordance with ORS 469B.167(3).
For the purposes of transferring the tax credit, a tax credit is considered
used when any portion of the tax credit reduces or offsets any portion of the
applicant's tax liability.
(c) The
department will provide assistance in locating a transferee, however the
department does not guarantee that a transferee will be located or
obtained.
(d) A tax credit
certificate may only be re-issued once, upon a transfer from the applicant to
the transferee.
(e) A tax credit
certificate may be re-issued in the name of the individual or entity transferee
only.
(f) The transferee may not
claim the credit for a tax year prior to the year in which the transferee pays
for the credit.
(g) The applicant
holding the tax credit certificate must submit a complete tax credit transfer
application and the required fee to the department. The tax credit transfer
application must:
(A) Include an affidavit
from the applicant holding the tax credit certificate affirming that no portion
of the tax credit has been claimed and that the applicant has received a cash
payment equal to the present value of the credit from the transferee, as
calculated under these rules.
(B)
Provide power of attorney to authorize the department to confirm with the
Oregon Department of Revenue that no portion of the tax credit has been
claimed.
(C) Include the original
tax credit certificate issued to the applicant or affidavit from the applicant
on the application form.
(h) Upon compliance with this rule and any
other applicable requirements, the department will re-issue the tax credit
certificate to the transferee.
Stat. Auth.: ORS 469.040 & 469B.161
Stats. Implemented: ORS 469B.130 - 469B.171 & 315.354-315.357
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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