Oregon Statutes 285C.557 – Certification required for tax credits; certification not to exceed five years; use by transferee
(1) A certificate issued under ORS § 285C.553 or 469B.161 is required for purposes of obtaining tax credits in accordance with ORS § 315.341. Such certification shall be granted for a period not to exceed five years. The five-year period shall begin with the tax year of the applicant during which the completed application for final certification of the facility under ORS § 285C.553 is received by the Oregon Business Development Department.
(2) If the original owner of the certificate uses any portion of the credit, the certificate becomes nontransferable.
(3) For a transferee holding a credit that has been transferred under ORS § 285C.549, the five-year period shall begin with the tax year in which the transferee pays for the credit. [2011 c.474 § 13; 2012 c.45 § 18]