Requirements for tax credit certification application
(1) An application for tax credit certification shall be filed by an employer that has obtained program certification under ORS 348.618 (Requirements for program certification application) or that has applied for program certification and is awaiting such certification by the Director of the Office of Student Access and Completion.
(2) The application for tax credit certification shall be filed by the employer with the director. The application shall be filed at the time prescribed by the director, but no later than October 1 of the calendar year in which begins the tax year for which a credit under ORS 315.237 (Employee and dependent scholarship program payments) will be claimed.
(3) The application shall be filed on a form prescribed by the director and shall contain the information required by the director, including the amount of scholarship moneys the employer has provided or intends to provide to employees or dependents during the calendar year for which tax credit certification is being sought and the number of employees employed by the employer for the calendar year.
(4) The director shall consider applications in the chronological order in which the applications are received and shall approve applications to the extent the amount set forth in the application, when added to the total amount already certified by the director for the calendar year under this section, does not exceed $1 million.
(5) An employer may not receive tax credit certification:
(a) For an amount that is greater than $1 million;
(b) If the employer employs fewer than four full-time equivalent employees for the calendar year; or
(c) If the employer employs more than 250 employees for the calendar year.
(6) The director shall send written notice of the amount of the tax credit certification, or written notice that no amount is being certified, to the employer and to the Department of Revenue within 60 days of the date an application is filed under this section.
(7) The employer shall keep the written certification in the employer’s records for at least five years and shall furnish the certification to the Department of Revenue if requested. [2001 c.475 §6; 2011 c.637 §192; 2013 c.747 §126; 2017 c.66 §53]
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