(1) A certificate issued under ORS § 469B.332 is required for purposes of obtaining tax credits in accordance with ORS § 315.336. 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 transportation project under ORS § 469B.332 is received by the State Department of Energy.

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(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 § 469B.323, the five-year period shall begin with the tax year in which the transferee pays for the credit. [2011 c.730 § 62]