Credit for Political Contributions
(1)In General: To qualify for the political contribution credit, the contribution must be a voluntary contribution of money made to one of the following:
(a)A major political party or its political committees, or a minor political party or its political committees;
(b)A candidate for federal, state or local office; or
(c)A political committee. Each of these categories is discussed in more detail in the following sections.
(2)Contributions to political parties. For purposes of this rule, a major political party is defined in ORS 248.006 (Qualification and maintenance of status as major political party). A minor political party is defined in ORS 248.008 (Qualification as minor political party). Contributions to any of these parties, or their political committees, qualify for the credit.
(3)Contributions to candidates. Qualifying contributions are those made directly to the candidate or the principal campaign committee of the candidate.
(a)A principal campaign committee (PCC) means a candidate’s political committee. The PCC must have met the filing requirements contained in ORS Chapter 260 (Campaign Finance Regulation).
(b)Candidates do not have to appear on a ballot in this state in the same year the contribution is made for the credit to be claimed. However, if the candidate is not on a ballot, at least one of the following must have occurred in the same year the contribution is made:
(A)A prospective petition is filed;
(B)A declaration of candidacy is filed;
(C)A certificate of nomination is filed; or
(D)A designation of a principal campaign committee is filed.
(4)Contributions to political committees. Contributions made to a political committee will qualify only if the committee has certified the name of its treasurer to the appropriate filing officer in the manner provided in ORS Chapter 260 (Campaign Finance Regulation). As used in this rule, “filing officer” means:
(a)For a political committee whose purpose is to support or oppose a candidate or measure in an election concerning an irrigation district formed under ORS Chapter 545 (Irrigation Districts), the county clerk or secretary of the irrigation district as provided under ORS 260.005 (Definitions)(9)(b).
(b)For all other purposes, the Secretary of State as provided under ORS 260.005 (Definitions)(9)(a).
(c)Contributions may qualify under this provision even though:
(A)No measure appears on the ballot in the same year the contribution is made;
(B)The contribution is made to reduce a deficit from a prior year; or
(C)The political committee is formed by a national committee.
(5)The amount of the contribution must be reduced by the fair market value of any items or services received in exchange for the contributions.
(6)A partnership or S corporation may make political contributions on behalf of its partners or shareholders. The credit may be claimed on the individual tax return, subject to all of the limitations in ORS 316.102 (Credit for political contributions) and this rule.
(7)Proof of the credit, such as a canceled check or receipt, should not be attached to the tax return but should be kept with the taxpayer’s records. Upon audit or examination, the taxpayer must provide documentation to verify the credit.
Rule 150-316-0120 — Credit for Political Contributions,