ORS 315.595¹
Preliminary certification
  • application
  • allocation priority
  • rules

(1) Prior to construction of a short line railroad rehabilitation project, a taxpayer may apply to the Department of Transportation for preliminary certification of the project in the manner prescribed by rules adopted under this section, which must include:

(a) Timelines and deadlines for submission of application materials;

(b) A description of the information required by the department to determine that the taxpayer qualifies for the credit allowed under ORS 315.593 (Short line railroad rehabilitation projects);

(c) Criteria for determining the amount of the tax credit allowed under ORS 315.593 (Short line railroad rehabilitation projects), including standards for what constitutes completion of a short line railroad rehabilitation project;

(d) The process by which an applicant will be notified of an incomplete application and the time allowed for the applicant to provide the missing information; and

(e) The month and date by which the department must notify an applicant of the preliminary certification decision and the potential amount of the tax credit for which the applicant has received preliminary certification.

(2) If the total amount of potential tax credits allowed under ORS 315.593 (Short line railroad rehabilitation projects) for all taxpayers that have applied for preliminary certification exceeds the limit in ORS 315.593 (Short line railroad rehabilitation projects), the department shall allocate the tax credits allowed under ORS 315.593 (Short line railroad rehabilitation projects) as follows:

(a) By giving first priority to all tier II short line railroads that own or lease less than 75 miles of short line railroad track in this state; and

(b) By giving second priority to all tier II short line railroads not described in paragraph (a) of this subsection.

(3) If the department must allocate tax credits to a group of taxpayers in an amount that is less than the amount the taxpayers would otherwise receive under ORS 315.593 (Short line railroad rehabilitation projects), the department shall divide the available tax credits among the group proportionally, based on the amount each taxpayer would have otherwise received under ORS 315.593 (Short line railroad rehabilitation projects). [2019 c.579 §9]

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