(1) If a taxpayer obtains a grant from the federal government in connection with a facility that has been certified by the Director of the State Department of Energy, the total cost of the facility shall be reduced on a dollar for dollar basis. Any income or excise tax credits that the taxpayer would be entitled to under ORS § 285C.540 to 285C.559, 315.341, 315.354 and 469B.130 to 469B.169 after any reduction described in this subsection may not be reduced by the federal grant. A taxpayer applying for a federal grant shall notify the Department of Revenue by certified mail within 30 days after each application, and after the receipt of any grant.

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(2) A taxpayer, or an applicant who is otherwise eligible, is eligible to participate in both this tax credit program and low interest, government-sponsored loans.

(3) A taxpayer who receives a tax credit or property tax relief on a pollution control facility or an alternative energy device under ORS § 307.405, 315.304 or 316.116 is not eligible for a tax credit on the same facility or device under ORS § 285C.540 to 285C.559, 315.341, 315.354 and 469B.130 to 469B.169. [1993 c.730 § 36 (enacted in lieu of 316.141, 316.142 and 317.103); 1995 c.556 § 35; 1999 c.623 § 3; 2001 c.583 § 2; 2007 c.843 § 15; 2011 c.83 § 14; 2011 c.474 § 34; 2011 c.693 § 2]