Oregon Administrative Rules › Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT › Division 600 - BUSINESS ENERGY TAX CREDITS FOR RENEWABLE ENERGY RESOURCE EQUIPMENT MANUFACTURING BETC (Manufacturing BETC) › Section 123-600-0105 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
The following definitions apply unless the context requires
				otherwise:
(1) "Applicant" means a
			 person who applies for preliminary certification of a Manufacturing BETC
			 facility under this section including individuals, corporations, associations,
			 firms, partnerships, limited liability companies and joint stock
			 companies.
(2) "Cost" means the
			 capital costs and expenses necessarily incurred in the erection, construction,
			 installation and acquisition of a facility.
(3) "Completed application" means receipt of
			 payments under OAR 123-600-0140 and all information
			 required in the application form to demonstrate substantive compliance with the
			 provisions of ORS 285C.540 to
			 285C.559 and any applicable
			 rules or standards adopted by the Director, and all supplemental attachments,
			 exhibits and so forth that the Applicant furnishes at the Department's request
			 under these rules for the Manufacturing BETC.
(4) "Completed Facility" means a
			 manufacturing facility that is operating in accordance with requirements in the
			 Preliminary Certificate and performance agreement between the Department and
			 the Applicant for which all costs have been paid or committed by a binding
			 contract or agreement.
(5)
			 "Component parts of electric vehicles" means component parts that are for
			 exclusive use in electric vehicles and may not be used in both electric and
			 conventional vehicles. A component part of electric vehicles does not include
			 batteries.
(6) "Director" means the
			 Director of the Oregon Business Development Department or designees.
(7) "Department" means the Oregon Business
			 Development Department, aka: Business Oregon.
(8) "Electric vehicles" means vehicles that
			 are designed for use as Class I or Class II all-terrain vehicles, as those
			 terms are defined in ORS
			 801.190 and
			 801.193, and that are used for
			 agricultural, commercial, industrial or governmental purposes, or vehicles that
			 are designed for use as modes of transportation on public roads and highways.
			 The Director of the Oregon Business Development Department may further define
			 "agricultural, commercial, industrial or governmental purposes" of electric
			 vehicles.
(9) "Facility operator"
			 means the person or people to whom the Applicant gives authority to manage a
			 facility. Such person or people shall be the Applicant's agent for all reasons
			 related to the facility once its development begins.
(10) "Facility start" means the earliest date
			 on or after the date the application for preliminary certification is received
			 by the Department where a non-refundable deposit will be placed on the facility
			 equipment or; a purchase order will be placed for the equipment or; a contract
			 for the design of the facility will be executed or; a document that obligates
			 the Applicant to proceed with a facility will be executed; or any other type of
			 financial commitment towards the erection, construction, installation or
			 acquisition of the facility.
(11)
			 "Federal grant" means any grant received from the federal government in
			 connection with a facility.
(12)
			 "Final certification" means the review and approval of the application for
			 final certification leading to issuance of a final certificate for a completed
			 facility under ORS 285C.551.
(13) "Lease contract" means a lease-purchase
			 contract in which the lessee owns the facility at the end of the lease and is
			 eligible for the Manufacturing BETC, or a lease or lease-option contract in
			 which the lessor owns the facility through the life of the contract and is
			 eligible for the Manufacturing BETC.
(14) "Pass-through payment" means a minimum
			 cash payment equivalent to the net present value of the Manufacturing BETC as
			 determined under OAR 123-600-0135. This is also
			 referred to as the "pass-through rate."
(15) "Pass-through option" means the option
			 that allows an Applicant a one time only transfer of all or a portion of the
			 facility's tax credit eligibility to certain persons or businesses in return
			 for a cash payment.
(16)
			 "Pass-through partner" means a personal income tax payer, individual, C
			 corporation or S corporation that is transferred a tax credit certificate in
			 return for a cash payment to an Applicant.
(17) "Preliminary certification" means the
			 review and approval of the application for preliminary certification leading to
			 issuance of a preliminary certificate for an eligible facility under ORS
			 285C.551.
(18) "Renewable energy resource" means energy
			 derived from sources including but not limited to: straw, forest slash, wood
			 waste or other wastes from farm or forest land, nonpetroleum plant or animal
			 based biomass, ocean wave energy, solar energy, wind power, water power or
			 geothermal energy.
(19) "Renewable
			 energy resource equipment manufacturing facility" means any structure,
			 building, installation, excavation, device, machinery or equipment, or an
			 addition, reconstruction or improvement to land, to an existing structure,
			 building, installation, excavation or device or to existing machinery or
			 equipment, that is necessarily acquired, constructed or installed by a person
			 in connection with the conduct of a trade or business and that is used
			 primarily to manufacture:
(a) Component parts
			 of electric vehicles.
(b) Electric
			 vehicles.
(c) Equipment, machinery
			 or other products designed to use a renewable energy resource and that meets
			 the criteria established under ORS
			 285C.543 and these
			 rules.
(d) Renewable energy storage
			 devices. [2011 c.474 ¦5]