2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 315 - Personal and Corporate Income or Excise Tax Credits › Section 315.336 - Transportation projects.

(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 a transportation project, based upon the certified cost of the project during the period for which the project is certified under ORS 469B.320 to 469B.347.
(2) The credit allowed for a project other than an alternative fuel vehicle project shall be as follows:
(a) For tax years beginning on or after January 1, 2011, and before January 1, 2012, the maximum allowed credit shall be:
(A) 35 percent of certified cost, if a preliminary certification is issued under ORS 469B.329 prior to July 1, 2011; or
(B) 25 percent of certified cost, if a preliminary certification is issued under ORS 469B.329 on or after July 1, 2011, and before January 1, 2012.
(b) For tax years beginning on or after January 1, 2012, and before January 1, 2013, the maximum allowed credit shall be 25 percent of certified cost.
(c) For tax years beginning on or after January 1, 2013, and before January 1, 2014, the maximum allowed credit shall be 20 percent of certified cost.
(d) For tax years beginning on or after January 1, 2014, and before January 1, 2015, the maximum allowed credit shall be 15 percent of certified cost.
(e) For tax years beginning on or after January 1, 2015, and before January 1, 2016, the maximum allowed credit shall be 10 percent of certified cost.
(3) The total amount of the credit allowable for an alternative fuel vehicle project under this section may not exceed 35 percent of the certified cost of the project.
(4)(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 project, 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 amount of the credit allowed under this section is less than 35 percent of the certified cost of the project, the credit allowed in any tax year may not exceed five percent of the certified cost of the project, and may not exceed the tax liability of the taxpayer.
(5) 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.320 to 469B.347.
(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 (2) 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 transportation 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.320 apply to this section. [2011 c.730 §53; 2012 c.45 §6; 2013 c.774 §14]
Note:
Sections 54 and 66, chapter 730, Oregon Laws 2011, provide:
Sec. 54.
(1) A taxpayer may not be allowed a credit for a transportation project, other than an alternative fuel vehicle project, certified under ORS 469B.332 if the first tax year for which the credit would otherwise be allowed begins on or after January 1, 2016.
(2) A taxpayer may not be allowed a credit for an alternative fuel vehicle project certified under ORS 469B.332 if the first tax year for which the credit would otherwise be allowed begins on or after January 1, 2018. [2011 c.730 §54; 2013 c.774 §16]
Sec. 66.
Sections 53 and 56 to 65 of this 2011 Act [315.336 and 469B.320 to 469B.347] apply to applications for preliminary certification submitted under section 58 of this 2011 Act [469B.326] after July 1, 2011, and to tax years beginning on or after January 1, 2011. [2011 c.730 §66]