Or. Admin. Code § 340-016-0240

Current through Register Vol. 63, No. 10, October 1, 2024

Section 340-016-0240 - Allocating the Limitations

(1) The DEQ will first allocate the program limitation to the earliest application date based on the date that the DEQ receives a complete application according to OAR 340-016-0230(5).

(2) If the DEQ receives several applications on the same day and the total of the tax credits requested on these applications would exceed the program limitation then DEQ will allocate the remaining limitation by the following method.

(a) The DEQ will allocate the remaining program limitation by the earliest postmarked date.

(b) If there is a tie for the earliest postmarked date then the DEQ will allocate the remaining program limitation by the earliest invoice date.

(c) If there is a tie for the earliest invoiced date then the DEQ will allocate the remaining program limitation by drawing.

(3) When the program limitation has expired for the calendar year, the DEQ will retain all completed applications for processing in the following calendar year up to the taxpayer limitation for the current calendar year. The DEQ will process retained applications according to sections 1 and 2 of this rule. The tax credit claimed on a retained application will not increase the taxpayer limitation for the following calendar year.

Or. Admin. Code § 340-016-0240

DEQ 8-2004, f. & cert. ef. 9-17-04

Stat. Auth.: OL 2003, Sec. 28 - 32, reprinted in a note following ORS 315.356

Stats. Implemented: OL 2003, Sec. 28 - 32, reprinted in a note following ORS 315.356