OAR 741-030-0060
Final Certification Application and Review
(1)
The following requirements must be met in order for the applicant to receive final certification:(a)
Applicants with completed projects must have a valid preliminary certification for a short line railroad rehabilitation tax credit. The short line railroad rehabilitation project must be completed as described in the preliminary certification, and in accordance with Or Laws 2019, ch. 579 and Chapter 741, Division 30 of the administrative rules. Any changes to a preliminary certification must be made through the amendment process outlined in these rules and must be completed prior to the project completion date.(c)
The application must include a certification, executed by an authorized representative of the short line railroad, that certifies that the applicant’s project meets the requirements for a short line railroad project set forth in Or. Laws 2019. ch. 579 and this division of administrative rules. The representative’s certification must be a sworn statement attesting to the truth of the certification and attesting to the following:(A)
That the railroad is either a Tier I or Tier II short line railroad;(B)
That the leased or owned infrastructure on which the rehabilitation tax credit would be based is located in Oregon;(C)
The railroad mileposts that are adjacent to the leased or owned infrastructure;(D)
That the rehabilitation project costs are not funded by or used to qualify for any state or federal grants, or used to claim a federal tax credit;(E)
The actual eligible costs of the completed maintenance, reconstruction or replacement of infrastructure in Oregon; and(F)
That the applicant is current on all state and local taxes, fees and assessments.(d)
Applicants must provide documentation of rehabilitation project actual costs indicating the date they were paid or incurred, which may include canceled checks, invoices or receipts, binding contracts or agreements, or other documentation that evidence that such costs were properly paid or incurred for the project described in the preliminary certification and represent eligible costs under these rules.(2)
The Department may inspect the infrastructure, at the Department’s discretion, to ensure the project is eligible for the tax credit.(4)
If the Department approves the application, the Department will issue a final certification, which states the amount of certified costs and the amount of the tax credit.(5)
An applicant that has been awarded a final certification may transfer the credit as provided in Or. Laws 2019, ch. 579.
Source:
Rule 741-030-0060 — Final Certification Application and Review, https://secure.sos.state.or.us/oard/view.action?ruleNumber=741-030-0060.