Or. Admin. Code § 629-023-0450

Current through Register Vol. 63, No. 11, November 1, 2024

Section 629-023-0450 - Preliminary Certificate Issuance

(1) The project is completed when the minimum number of well-distributed seedlings has been satisfactorily planted. The minimum number required under this section is the same as required under the reforestation rules of the Oregon Forest Practices Act.

(2) The preliminary credit application submitted to the State Forester by the taxpayer must include:

(a) Payment of the tax credit application fee in the amount in effect on the date the preliminary certificate is filed;

(b) A single project area; or

(c) Multiple project areas if approved by the State Forester;

(d) A project map;

(e) The tax year (the year the trees were planted) for which the credit is claimed;

(f) Whether claimant status is as an individual, partnership, or corporation;

(g) The applicant's name, address, social security number or employer identification number;

(h) The legal description of the property including the county;

(i) The number of acres eligible for the tax credit;

(j) The approximate date each activity was completed;

(k) The amount of federal or state cost share or other incentive program funds received; and

(l) The taxpayer's reasonable eligible project costs.

(3) The tax credit claimed on the preliminary certificate may be retained by the taxpayer in the event that a new forest is not established when all of the following conditions exist:

(a) The taxpayer made a reasonable effort to meet the project specifications of OAR 629-023-0440;

(b) The reasons the new forest is not established are beyond the control of the taxpayer;

(c) The measures performed by the taxpayer would normally have resulted in establishing the minimum number of trees per acre.

Or. Admin. Code § 629-023-0450

FB 9-1990, f. & cert. ef. 10-25-90; FB 6-1996, f. 7-9-96, cert. ef. 7-15-96; DOF 4-2002 f. & cert. ef. 6-18-02; DOF 1-2006(Temp), f. & cert. ef. 1-3-06 thru 6-29-06; DOF 5-2006, f. 5-2-06, cert. ef. 6-1-06; DOF 5-2008, f. 8-1-08 cert. ef. 9-1-08

Stat. Auth.: ORS 315 & 526

Stats. Implemented: ORS 315.104 & 315.106