OAR 330-230-0150
Transfer of Tax Credits Issued to an ApplicantTransfer of tax credits issued to an applicant
(1)
An applicant who has been issued a tax credit certificate may transfer the tax credit to an eligible transferee through the department process provided by these rules, provided the transfer occurs within 12 months of the issuance of the tax credit certificate to the applicant.(2)
If an applicant uses any portion of the tax credit it may not be transferred, in accordance with ORS 469B.297 (Certificate required for tax credits)(2) or 469B.338 (Certificate required for tax credits)(2).(3)
The department will not provide assistance in locating a transferee.(4)
A tax credit certificate may only be re-issued once, upon a transfer from the applicant to the transferee.(5)
Tax credit certificates may be re-issued only in the names of the individual or entity transferee in order to be able to claim the transferred credit.(6)
The transferee may not claim the credit for a tax year prior to the year in which the transferee pays for the credit. If the applicant has not received the payment when the application is submitted, the tax credit certificate will be dated to reflect that the tax credit period begins as of the date the applicant states payment is expected to be received.(7)
The applicant must submit a complete tax credit transfer application and the required fee to the department. The transfer application must:(a)
Include an affidavit from the project owner affirming that no portion of the tax credit has been claimed and that the project owner has received a cash payment equal to the present value of the credit from the transferee, as calculated under these rules.(b)
Provide power of attorney to authorize the department to confirm with the Oregon Department of Revenue that no portion of the tax credit has been claimed.(c)
Include the original tax credit certificate issued to the applicant.(8)
Upon compliance with this rule and any other applicable requirements, the department will re-issue the tax credit certificate to the transferee.
Source:
Rule 330-230-0150 — Transfer of Tax Credits Issued to an ApplicantTransfer of tax credits issued to an applicant, https://secure.sos.state.or.us/oard/view.action?ruleNumber=330-230-0150.