ORS 315.144¹
Transfer of biomass credit
  • rules

(1) A person that has obtained a tax credit under ORS 315.141 (Biomass production or collection) may transfer the credit to a taxpayer subject to tax under ORS chapter 316, 317 or 318.

(2) A tax credit allowed under ORS 315.141 (Biomass production or collection) may be transferred on or before the date on which the return is due for the tax year in which the credit may first be claimed. After that date, no portion of a credit allowed under ORS 315.141 (Biomass production or collection) may be transferred.

(3) To transfer the tax credit, the taxpayer earning the credit and the taxpayer that will claim the credit shall, on or before the date prescribed in subsection (2) of this section, jointly file a notice of tax credit transfer with the Department of Revenue. The notice shall be given on a form prescribed by the department that contains all of the following:

(a) The name and address of the transferor and transferee;

(b) The amount of the tax credit that is being transferred;

(c) The amount of the tax credit that is being retained by the transferor; and

(d) Any other information required by the department.

(4) The State Department of Energy may establish by rule a minimum discounted value of a tax credit under this section.

(5) The Department of Revenue, in consultation with the State Department of Energy, may by rule establish procedures for the transfer of tax credits provided by this section. [2007 c.739 §3; 2009 c.909 §50]

Note: See note under 315.141 (Biomass production or collection).

Chapter 315

Notes of Decisions

State could not recalculate tax for tax year closed to review in order to prevent elective carry forward of tax credit to tax year subject to review. Smurfit Newsprint Corp. v. Dept. of Revenue, 329 Or 591, 997 P2d 185 (2000)

1 Legislative Counsel Committee, CHAPTER 315—Personal and Corporate Income or Excise Tax Credits, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors315.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 315, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano315.­html (2019) (last ac­cessed May 16, 2020).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information