Oregon Administrative Rules
Chapter 340 - DEPARTMENT OF ENVIRONMENTAL QUALITY
Division 17 - PLASTICS RECYCLING TAX CREDITS
Section 340-017-0035 - Amount of Tax Credits Available
Current through Register Vol. 63, No. 3, March 1, 2024
(1) For purposes of monitoring the Department's tax credit limit, the Department will consider the sum of the preliminary certifications issued in each calendar year. When preliminary certification is waived under OAR 340-001-0020, the year of final certification will be used:
(2) Not more than $1.5 million in investment costs will be issued preliminary certification in any calendar year. In each calendar year, a minimum of $500,000 of the $1.5 million will be reserved for investments costing $100,000 or less.
(3) The maximum cost certified for each investment shall not exceed $500,000 except as permitted by section (5) of this rule.
(4) If the applications exceed the $1,500,000 limit, the Commission shall prioritize investments, based on the date of preliminary certification. Those applications received and determined by the Department to be complete first will receive first priority for certification. The total amount for which the investment is eligible shall be certified so long as there are adequate funds to do so.
(5) If the applications certified in any calendar year do not total $1,000,000, the Commission may increase the certified costs above the $500,000 maximum for previously certified investments. The increases shall be allocated based upon the method of prioritization used in section (4) of this rule. The increased allocation to previously certified investments under this section shall not include any of the $500,000 reserved under section (2) of this rule.
(6) When considering the percentage of costs properly allocable to the investment costs incurred to allow a person to collect, transport or process reclaimed plastic or to manufacture a reclaimed plastic product, the following steps will be used:
Stat. Auth.:ORS 468.150
Stats. Implemented:ORS 468.150 -ORS 468.190