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 123-600-0130 - Final Certification

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Facility Completion. To qualify for a final certificate, the facility shall be
			 completed as described in the preliminary certificate, and in accordance with
			 the performance agreement and these rules. Any changes to the preliminary
			 certificate and/or application for preliminary certification shall be made
			 through the amendment process outlined in these rules and shall be completed
			 prior to the project completion date. Failure to obtain approval through the
			 amendment process may result in denial of the application for final
			 certification.
(2) Application and
			 Review.
(a) Applicants with completed
			 facilities must have a valid preliminary certificate for a Manufacturing BETC
			 in accordance with ORS
			 285C.547(5) in
			 order to complete final certification including all transactions associated
			 with the pass-through option described in
			 123-600-0135.
(b) The application shall be considered
			 received for the purposes of ORS
			 285C.557 on the date marked
			 received by the Department, unless the application is incomplete. If the
			 application for final certification is not complete, the date marked received
			 by the Department on the complete application containing all of the required
			 information shall be considered the received date.
(c) Review of the application for final
			 certification shall include a determination by the Director that the proposed
			 erection, construction, installation or acquisition is technically feasible and
			 should operate in accordance with the representations made by the Applicant,
			 and is in accordance with the provisions of ORS
			 285C.540 to
			 285C.559 and any applicable
			 rules or standards adopted by the Director, including but not limited to:
(A) Evidence in a form acceptable to the
			 Department that the conditions of the preliminary certification and performance
			 agreement have been complied with;
(B) Evidence of the costs of the facility. If
			 the actual cost of the facility is less than $50,000, copies of receipts for
			 purchase and installation of the facility; or if the actual cost of the
			 facility is $50,000 or more, certified to by a certified public accountant who
			 is not an employee of the Applicant. The certified public accountant shall:
(i) Complete a written review of costs paid
			 or incurred to be reported in the Final Application, related to the facility as
			 described in the Preliminary Application and Preliminary Certificate, based on
			 canceled checks, invoices, or receipts, a binding contract or agreement, or
			 other documentation as may be required under these rules and certify that such
			 costs were properly paid or incurred and represent eligible costs under these
			 rules indicating exceptions as applicable.
(ii) Conduct the review in the form of an
			 agreed-upon procedures engagement that is in accordance with AT Section 201,
			 Agreed-Upon Procedure Engagements (Statements on Standards for Attestation
			 Engagements 10, as amended) of the American Institute of Certified Public
			 Accountants.
(iii) Conduct any
			 sampling of costs in accordance with procedures in the Statement on Auditing
			 Standards in the AICPA Guidelines.
(iv) Review sufficient information if an
			 applicant has an outstanding binding contract or loan agreement, to become
			 satisfied that accounts directly related to the facility are not in default in
			 order to include such costs as eligible costs.
(C) The amount of the credit under ORS
			 315.341 that is to be claimed
			 and that the costs have not previously received preliminary or final
			 certification;
(D) Information
			 sufficient to demonstrate the number and type of jobs created and maintained by
			 the operation and maintenance of the facility over the five-year period
			 beginning with the year of preliminary certification under ORS
			 285C.551 and information on the
			 benefits of the facility with regard to overall economic activity in this state
			 will be met;
(E) Information
			 sufficient to demonstrate that the facility shall remain in operation for at
			 least five years, unless the Director by rule specifies a shorter period of
			 operation;
(F) Documentation of
			 compliance with applicable state and local laws and regulations and licensing
			 and permitting requirements as defined by the Department; and
(G) A statement that the Applicant or the
			 principal, director, officer, owner, majority shareholder or member of the
			 Applicant, or the manager of the Applicant if the Applicant is a limited
			 liability company, is not in arrears for payments owed to any government agency
			 while in any capacity with direct or indirect control over a
			 business.
(H) Any other information
			 determined by the Department to be necessary prior to issuance of a final
			 certificate, including inspection of the facility by the Department.
(b) After an application for final
			 certification is received, the Department shall determine whether the
			 application is complete. An application is incomplete if it does not include
			 information needed to demonstrate substantive compliance with the provisions of
			 ORS 285C.540 to
			 285C.559 and any applicable
			 rules or standards and preliminary certification conditions adopted by the
			 Director. If it is not complete, the Applicant shall be provided a written
			 explanation describing deficiencies. If it is complete, the Department shall
			 process the application. Within 60 days after a completed application for final
			 certification is received the Department shall either approve or deny the
			 application.
(c) If the Department
			 approves the application; the Director shall issue a certified amount letter,
			 which shall state the amount of certified costs, reduced as applicable by any
			 federal grants received, and the amount of the tax credit approved. The
			 certified amount letter may contain additional criteria and conditions that
			 shall be met in order to retain tax credit benefits or the tax credit
			 certificate issued to the Applicant may be subject to revocation. If the
			 facility fails to meet any of the criteria, conditions and requirements
			 established in final certification, the Applicant shall notify the Department
			 within 30 days.
(d) When an
			 Applicant chooses to transfer the tax credit under ORS
			 285C.549, the Department may
			 hold the application for final certification until pass-through partner(s)
			 information is received by the Department.