§ 315.522 — Certification; application to Oregon Business Development Department; fees; rules

Oregon § 315.522

• Jurisdiction: Oregon
• Vol.: 8
• Title 29: Revenue and Taxation
• Ch. 315: Personal and Corporate Income or Excise Tax Credits

Text

(1) A taxpayer seeking to claim the credit provided under ORS 315.518 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;
(b) A description of how proposed research and development activities for which the taxpayer seeks a tax credit under ORS 315.518 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, and if the taxpayer attests that the proposed research and development activities for which the taxpayer seeks the credit under ORS 315.518 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 to 192.478 and must be treated as confidential. [2023 c.298 §4]
(Temporary provisions relating to tax credits for semiconductor research)