Or. Admin. R. 330-070-0014

Current through Register Vol. 63, No. 8, August 1, 2024

Section 330-070-0014 - Pass-Through Eligibility

(1) An individual, estate or trust subject to tax under ORS chapter 316 that pays the present value to purchase the approved tax credit from the applicant may be eligible to claim the tax credit in place of the applicant.

(2) In accordance with ORS 469B.106(10), the department establishes the following rates for calculating the present value of the tax credit:

(a) For tax credits greater than $1,500 the present value is 90 percent of the tax credit amount.

(b) For tax credits less than $1,500 the present value is 95 percent of the tax credit amount.

(3) The department will issue a credit certificate to the pass through partner when the applicant confirms receipt of an amount equal to the present value of the tax credit and relinquishes any claim to the credit.

(4) A tax credit may be transferred or sold only once.

(5) A tax credit may not be transferred in portions. Only the whole tax credit amount may be transferred.

(6) The department must receive a pass-through application on or before June 1, 2018.

Or. Admin. R. 330-070-0014

DOE 2-2001, f. 10-5-01, cert. ef. 10-8-01; DOE 1-2004, f. & cert. ef. 1-21-04; DOE 2-2005, f. 12-30-05, cert. ef. 1-1-06; DOE 4-2007, f. 11-30-07, cert. ef. 12-1-07; DOE 16-2010, f. & cert. ef. 12-22-10; DOE 11-2011, f. 12-16-11, cert. ef. 1-1-12; DOE 14-2012, f. 12-26-12, cert. ef. 1-1-13; DOE 8-2013, f. 12-27-13, cert. ef. 1-1-14; DOE 9-2014, f. 12-29-14, cert. ef. 1/1/2015; DOE 6-2015, f. 11-9-15, cert. ef. 1/1/2016; DOE 8-2016, f. 12-29-16, cert. ef. 1/1/2017

Stat. Auth.: ORS 469.040, 469B.106; 469B.109

Stats. Implemented: ORS 469B.100-469B.118; 316.116