ORS 315.522
Certification
- application to Oregon Business Development Department
- fees
- rules
(1)
A taxpayer seeking to claim the credit provided under ORS 315.518 (Research conducted by semiconductor company) shall file for each tax year a written application for certification with the Oregon Business Development Department. The application must include:(a)
A description of how the taxpayer meets the definition of a qualified semiconductor company under ORS 315.518 (Research conducted by semiconductor company);(b)
A description of how proposed research and development activities for which the taxpayer seeks a tax credit under ORS 315.518 (Research conducted by semiconductor company) will support the taxpayer in conducting a business or trade directly related to semiconductors; and(c)
Any other information that is required by the department by rule.(2)
An application for certification under this section must be accompanied by a payment of any fee established by the department by rule under subsection (4) of this section.(3)
After considering timely filed and complete applications, along with amounts available under section 8, chapter 298, Oregon Laws 2023, the department shall, if the department deems appropriate, issue a certification to an applicant taxpayer if the department determines that the taxpayer is a qualified semiconductor company as that term is defined under ORS 315.518 (Research conducted by semiconductor company), and if the taxpayer attests that the proposed research and development activities for which the taxpayer seeks the credit under ORS 315.518 (Research conducted by semiconductor company) will support the taxpayer in conducting a trade or business directly related to semiconductors.(4)
The department shall establish by rule a fee for filing a written application for certification under this section. The fee shall be adequate to recover the costs incurred by the department in reviewing the applications under this section.(5)
Information submitted to the department under this section or section 5, chapter 298, Oregon Laws 2023, is exempt from public disclosure under ORS 192.311 (Definitions for ORS 192.311 to 192.478) to 192.478 (Exemption for Judicial Department) and must be treated as confidential. [2023 c.298 §4](2)
The registration required under this section shall be submitted in a form and manner prescribed by the department by rule and shall include:(a)
Documentation of the taxpayer’s qualified research expenses and basic research expenses under section 2 of this 2023 Act, averaged over the three preceding calendar years; and(b)
A projection, for the tax year beginning in calendar year 2024, of the taxpayer’s qualified research expenses and basic research expenses under section 2 of this 2023 Act.(3)
Not later than December 31, 2023, the department shall provide acknowledgment to any taxpayer that has timely registered under this section and shall provide preliminary confirmation that the taxpayer appears eligible for the credit allowed under section 2 of this 2023 Act.(4)
The department shall submit information collected pursuant to this section to the Legislative Revenue Officer not later than February 1, 2024.(5)
Any taxpayer that does not register as required under this section is not eligible to claim a credit under section 2 of this 2023 Act for a tax year beginning in calendar year 2024.(6)
This section does not apply to taxpayer eligibility for credits allowed for any tax year that begins on or after January 1, 2025. [2023 c.298 §5](2)
The legislative committees of the Legislative Assembly related to revenue:(a)
Shall review the contents of the report required under this section;(b)
Shall consider options for modifying the provisions of sections 2 to 5 of this 2023 Act [315.518 (Research conducted by semiconductor company) to 315.522 (Certification) and section 5] and for establishing criteria for granting certifications under section 4 of this 2023 Act [315.522 (Certification)] and accommodating the limitations in section 8 of this 2023 Act; and(c)
May develop legislation intended to further options selected by the committees as provided in paragraph (b) of this subsection and proposed for consideration during the 2024 regular session of the Eighty-second Legislative Assembly. [2023 c.298 §6](1)
$35 million for the biennium beginning July 1, 2023;(2)
$80 million for the biennium beginning July 1, 2025;(3)
$90 million for the biennium beginning July 1, 2027; and(4)
$50 million for the fiscal year beginning July 1, 2029. [2023 c.298 §8]
Source:
Section 315.522 — Certification; application to Oregon Business Development Department; fees; rules, https://www.oregonlegislature.gov/bills_laws/ors/ors315.html.
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