Or. Admin. Code § 340-180-0100

Current through Register Vol. 63, No. 10, October 1, 2024

Section 340-180-0100 - Application for Tax Credit Certificate

(1) Any person wishing to obtain a Tax Credit Certificate for an interest rate subsidy on a loan for soil remediation, UST upgrading, and replacement of UST systems containing motor fuel shall submit a written application on a form provided by the Department.

(2) The underground storage tank loan interest rate subsidy application shall include all information required under OAR 340-180-0050(1)(a) through (j).

(3) Applications which are unsigned or which do not contain the required exhibits (clearly identified) will not be accepted by the Department and will be promptly returned to the applicant for completion. The application will not be considered complete until the requested information is received. The application will be considered to be withdrawn if the applicant fails to submit the requested information within 180 days of the request.

(4) Applications which are complete will be accepted by the Department for processing.

(5) Within 30 days after the application is complete for processing, the Department will approve or deny the issuance of a Tax Credit Certificate.

(6) If, upon review of an application, the Department determines that the application does not meet the requirements of the statutes and rules, the Department shall notify the applicant in writing of this determination. Such notification shall constitute final action by the Department on this application.

NOTE:Work qualifying for the Tax Credit Certificate includes:

-1-Modification, replacement, and installation of any portion of the UST system containing motor fuel including replacement of paving and structures located immediately over the UST systems.

-2-Replacement of an underground storage tank system with an above ground storage tank system that meets existing state and local codes.

-3-Installation of the underground portion of any required Stage I vapor recovery system or anticipated future Stage II vapor recovery system.

-4-Soil remediation for soil contaminated with motor fuel including replacing excavated soil, paving and structures that are required to be removed during soil remediation.

(7) The Department shall have access to books, documents, papers and records held by the applicant which are directly pertinent to qualifying for the tax credit certificate for the purpose of making audit, examination, excerpts and transcripts. The applicant shall maintain these records for three years after the initial loan date.

Or. Admin. Code § 340-180-0100

DEQ 25-1989(Temp), f. & cert. ef. 10-26-89; DEQ 13-1990, f. & cert. ef. 3-13-90

Stat. Auth.: ORS 466.706 -ORS 466.995

Stats. Implemented: OL 1989, Ch. 1071