(1) The total of all costs of investments that receive a preliminary certification from the Environmental Quality Commission for tax credits in any calendar year shall not exceed $1,500,000. If the applications exceed the $1,500,000 limit, the commission, in the commission’s discretion, shall determine the dollar amount certified for any investments and the priority between applications for certification based upon the criteria contained in ORS 468.451 to 458.491.
(2) Not less than $500,000 of the $1,500,000 annual certification limit shall be allocated to investments having a certified cost of $100,000 or less for any qualifying business.
(3) With respect to the balance of the annual certification limit, the maximum cost certified for any investments shall not exceed $500,000. However, if the applications certified in any calendar year do not total $1,000,000, the commission may increase the certified costs above the $500,000 maximum for previously certified investments. The increases shall be allocated according to the commission’s determination of how the previously certified investments meet the criteria of ORS 468.451 to 468.491. The increased allocation to previously certified investments under this subsection shall not include any of the $500,000 reserved under subsection (2) of this section. [Formerly 468.965]
Section: Previous 468.475 468.476 468.480 468.481 468.485 468.486 468.490 468.491 468.495 468.500 468.501 468.503 468.505 468.506 468.508 NextLast modified: August 7, 2008