Relating to tax credits; prescribing an effective date.
Catchline/Summary:
Directs Director of State Department of Energy and Director of Oregon Business Development Department to prepare plans for potential transfer of administration of tax credits available for renewable energy resource equipment manufacturing facilities.Extends to 2014 sunset provision for income tax credits available for renewable energy resource equipment manufacturing facilities. Modifies criteria for certification of facilities.]
Establishes statutory framework consistent with current law for provision of credits for all other facilities that maintain existing 2012 sunset provision.]
Applies to preliminary certifications issued on or after June 1, 2009.]
Directs Director of State Department of Energy and Director of Oregon Business Development Department to prepare plans for potential transfer of administration of tax credits available for renewable energy resource equipment manufacturing facilities. Requires submission of report on plans to Legislative Assembly no later than convening of next regular session.
Adds facilities that manufacture specified electric vehicles or component parts of those vehicles to definition of "renewable energy resource equipment manufacturing facility" for purposes relating to preliminary certification of those facilities. Allows tax credit for those facilities with maximum total cost of preliminary certification of $2.5 million. Applies to preliminary certificates issued on or after July 1, 2009.
For facilities using wind technology that have installed capacity of more than 10 megawatts, reduces amount of available tax credits in each of three tax years, beginning with tax years beginning on or after January 1, 2010.
Clarifies that provisions relating to enterprise zones equally apply to reservation enterprise zones and reservation partnership zones. Applies to reservation enterprise zones designated, and reservation partnership zones cosponsored, on or after January 1, 2010.
Extends sunset on tax credit for eligible businesses that operate new business facilities in reservation enterprise zones or reservation partnership zones.
Takes effect on 91st day following adjournment sine die.
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