OAR 150-315-0180
Oregon Tax Credit Auctions

(1) Definitions.
(a) “Tax Credit” means the credit authorized by ORS 315.514 (Film production development contributions) and ORS 315.643 (Opportunity Grant contributions).
(b) “Qualified Bid” means a bid that is eligible for consideration in the tax credit auction because it meets all applicable statutory requirements and:
(A) It is submitted in a manner and time prescribed by the department’s instructions and this rule;
(B) It is submitted for no less than the reserve bid announced by the department for the particular auction, the reserve bid amount shall be the minimum reserve amount established by statute;
(C) An associated payment is received by the department in the time and manner prescribed in section (4).
(c) “Non-qualified Bid” means a bid that is not eligible to participate in the auction because it does not meet the requirements of section (1)(b) of this rule.
(d) “Invalid or Insufficient Payments” are payments that are:
(A) Not received by the department by 5:00 p.m. (PT) on the date for payment set by the department;
(B) In a form other than one listed in section (4) of this rule;
(C) Fraudulent or otherwise not able to be immediately banked by the department;
(D) Less than the full amount of the corresponding bid received by the department; or
(E) Not submitted in a manner consistent with department’s instructions (including attaching the required completed forms).
(e) “PT” means Pacific Time (Daylight or Standard as dictated by the time of year).
(2) Auction Bidding Period. The tax credits auction bidding period is no less than three business days, not to exceed 7 business days; with specific dates as announced by the department.
(3) Tax Credit Certificates. The Oregon Office of Film and Television and the Higher Education Coordinating Commission will issue tax credit certificates for the prevailing qualified bids. A taxpayer to whom a certificate is issued may claim a credit in the amount shown on the certificate against Oregon personal income or corporate income or excise tax otherwise due for that tax year. The tax credit may not exceed the liability of the taxpayer in any one year. Any credit amount unused by the taxpayer may be carried forward to offset tax liabilities in the next three succeeding tax years. No transfer of the certificate (or the credit that it represents) is allowed.
(4) Determination of Qualifying Bids and Payments.
(a) Bids must be submitted on-line in a manner consistent with the department’s instructions and within the bidding period as outlined in section (2). Bids received before or after the bidding period will be considered a non-qualified bid. The department will determine the order of bids received by the electronic date and time stamp.
(b) A bidder may submit multiple separate bids.
(c) After a bid is submitted, a bidder must send, and the department must receive, a payment for the total amount bid. Invalid or insufficient payments will be returned to the bidder and the associated bid considered non-qualified. All bid payments must be received by the department no later than 5:00 p.m. (PT) on the payment date. The department will date stamp payments when they are received. The department will not consider postmarks when determining if the payment has been timely received. It is the bidder’s responsibility to ensure that the department receives the payment by the deadline. The method of payment is limited to the following:
(A) Financial institution-issued certified check;
(B) Financial institution-issued cashier’s check; or
(C) Money Order.
(d) All payments will be held until the outcome of the auction is determined. As soon as practicable, the department will return payments to bidders that do not prevail at the auction. No interest will be paid on payments.
(e) A bid, once submitted, is irrevocable and may not be changed. A payment will only be returned if a bid does not result in the issuance of a tax credit certificate.
(5) Determination of the Prevailing Bid(s). After the payment deadline has passed, the department will determine the prevailing bids by placing the qualifying bids in order from highest bid amount to lowest bid amount. The department will allot tax credit certificates to the highest qualifying bids. In the event that two or more qualifying bids have identical bid amounts for the last tax credit increment (or increments) available, the prevailing qualifying bid will be the one the department received first as determined under section (4).

Source: Rule 150-315-0180 — Oregon Tax Credit Auctions, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=150-315-0180.

150‑315‑0005
Tax credit uniformity transfer provisions 150‑315‑0010
Claim of Right Credit 150‑315‑0012
Qualified Reforestation Costs 150‑315‑0014
Procedure for Claiming the Reforestation Credit 150‑315‑0016
Change of Ownership 150‑315‑0018
Reforestation Credit: Reasons Beyond the Taxpayer’s Control 150‑315‑0040
Fish Screening Device Credit 150‑315‑0050
Transfer of Biomass Credit 150‑315‑0060
Crop Gleaning Credit: Information Required 150‑315‑0065
Higher Education Savings (529) and Achieving A Better Life Experience (ABLE) account credit recapture 150‑315‑0070
Agriculture Workforce Housing Credit 150‑315‑0100
Child Care Division Contribution Credit 150‑315‑0110
Scholarship Tax Credit 150‑315‑0121
Working Family Household and Dependent Care Credit 150‑315‑0125
Working Family Household and Dependent Care Penalty 150‑315‑0140
Pollution Control Facilities: Types of Facilities Eligible for Certification 150‑315‑0142
Pollution Control Facilities: Information to be Furnished Upon Request 150‑315‑0144
Pollution Control Facilities: Computation of Credit 150‑315‑0146
Pollution Control Facilities: To Whom Is Credit Allowable 150‑315‑0148
Pollution Control Facilities: Years in Which Credit May Be Claimed 150‑315‑0150
Pollution Control Facilities: Transfer of Facilities 150‑315‑0152
Pollution Control Facilities: Tax Credit Carry Forward 150‑315‑0154
Pollution Control Facilities: Adjustment of Basis 150‑315‑0170
Business Energy Tax Credit: Transfer of Facilities 150‑315‑0180
Oregon Tax Credit Auctions
Last Updated

Jun. 8, 2021

Rule 150-315-0180’s source at or​.us