Bill Text: OR HB3325 | 2013 | Regular Session | Introduced
Bill Title: Relating to energy conservation project certification.
Sponsorship: Committee Bill
Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB3325 Detail]
Download: Oregon-2013-HB3325-Introduced.html
77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 2983
House Bill 3325
Sponsored by COMMITTEE ON ENERGY AND ENVIRONMENT
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
Clarifies state agency reference.
A BILL FOR AN ACT
Relating to energy conservation project certification; amending
ORS 315.331.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 315.331 is amended to read:
315.331. (1) A credit is allowed against the taxes otherwise
due under ORS chapter 316 or, if the taxpayer is a corporation,
under ORS chapter 317 or 318, for an energy conservation project
that is certified under ORS 469B.270 to 469B.306. The credit is
allowed as follows:
(a) Except as provided in paragraph (b) of this subsection, the
credit allowed in each of the first two tax years in which the
credit is claimed shall be 10 percent of the certified cost of
the facility, but may not exceed the tax liability of the
taxpayer. The credit allowed in each of the succeeding three
years shall be five percent of the certified cost, but may not
exceed the tax liability of the taxpayer.
(b) If the certified cost of the facility does not exceed
$20,000, the total amount of the credit allowable under
subsection (3) of this section may be claimed in the first tax
year for which the credit may be claimed, but may not exceed the
tax liability of the taxpayer.
(2) In order for a tax credit to be allowable under this
section:
(a) The project must be located in Oregon.
(b) The project must have received final certification from the
Director of the State Department of Energy under ORS 469B.270 to
469B.306.
(c) If the project is a research and development project, it
must receive, prior to certification under ORS 469B.288, a
recommendation from a qualified third party selected by the
director.
(d) If the project is new construction or a total building
retrofit, then the project must achieve, at a minimum, the energy
efficiency standards required for:
(A) LEED Platinum certification;
(B) A four globes rating from the Green Globes program;
(C) A nationally or regionally recognized and appropriate
sustainable building program whose performance standards are
equivalent to the standards required for LEED Platinum
certification or a four globes rating from the Green Globes
program, as determined by the { + State + } Department { + of
Energy + }; or
(D) Verification that the construction conformed to the
standards of the Reach Code adopted pursuant to ORS 455.500.
(3) The total amount of credit allowable to an eligible
taxpayer under this section may not exceed 35 percent of the
certified cost of the project.
(4)(a) Upon any sale, termination of the lease or contract,
exchange or other disposition of the project, notice thereof
shall be given to the director, who shall revoke the certificate
covering the project as of the date of such disposition.
(b) A new owner, or, upon re-leasing of the project, a new
lessee, may apply for a new certificate under ORS 469B.291. The
new lessee or owner must meet the requirements of ORS 469B.270 to
469B.306 and may claim a tax credit under this section only if
all moneys owed by the new owner or lessee to the State of Oregon
have been paid, if the project continues to operate and if all
conditions in the final certification are met. The tax credit
available to the new owner shall be limited to the amount of
credit not claimed by the former owner or, for a new lessee, the
amount of credit not claimed by the lessee under all previous
leases. The State Department of Energy may waive the requirement
that a new owner or lessee apply for a new certificate under ORS
469B.291 if the remaining credit is less than $20,000.
(c) The department may not revoke the certificate covering a
project under paragraph (a) of this subsection if the tax credit
associated with the project has been transferred to a taxpayer
who is an eligible applicant under ORS 469B.285.
(5) The tax credit allowed under this section for any one tax
year may not exceed the tax liability of the taxpayer.
(6) Any tax credit otherwise allowable under this section that
is not used by the taxpayer in a particular year may be carried
forward and offset against the taxpayer's tax liability for the
next succeeding tax year. Any credit remaining unused in that
next succeeding tax year may be carried forward and used in the
second succeeding tax year, and likewise, any credit not used in
that second succeeding tax year may be carried forward and used
in the third succeeding tax year, and likewise, any credit not
used in that third succeeding tax year may be carried forward and
used in the fourth succeeding tax year, and likewise, any credit
not used in that fourth succeeding tax year may be carried
forward and used in the fifth succeeding tax year, but may not be
carried forward for any tax year thereafter. Credits may be
carried forward to and used in a tax year beyond the years
specified in subsection (1) of this section only as provided in
this subsection.
(7) The credit allowed under this section is not in lieu of any
depreciation or amortization deduction for the project to which
the taxpayer otherwise may be entitled for purposes of ORS
chapter 316, 317 or 318 for such year.
(8) The taxpayer's adjusted basis for determining gain or loss
may not be decreased by any tax credits allowed under this
section.
(9) The definitions in ORS 469B.270 apply to this section.
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