Or. Admin. Code § 575-063-0020

Current through Register Vol. 63, No. 11, November 1, 2024

Section 575-063-0020 - Tax Credit Certification Procedures

(1) To qualify for tax credit, an employer who has obtained program certification or has applied for program certification shall submit an application for tax credit certification to the Commission.

(2) The employer shall file the application for tax credit certification no later than October 1 of the calendar year for which a tax credit will be claimed.

(3) The application shall be filed on a form provided by the Commission and shall include:

(a) The amount of scholarship funds the employer has provided or intends to provide during the calendar year for which tax certification is being sought; and

(b) The number of employees employed by the employer for the calendar year.

(4) The Commission will consider applications in the chronological order in which they are received.

(5) The Commission will approve no more than a total of $1 million in tax credit certifications annually in a calendar year.

(6) An employer may not receive a tax credit certification for more than $1 million in a lifetime.

(7) The Commission shall send written notification of the amount of the tax credit certification, if any, to all applicants and the Department of Revenue within 60 days of receipt of an application.

(8) The employer shall keep the written certification in the employer's records for at least five years and shall furnish the certification to the Department of Revenue if requested.

Or. Admin. Code § 575-063-0020

OSAC 7-2002, f. & cert.ef. 3-12-02; OSAC4-2008, f. &cert. ef. 10-15-08

Stat. Auth.: ORS 183 & 348

Stats. Implemented: HB 2521, 2001 Leg. Assembly