Or. Admin. Code § 741-030-0055

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

Section 741-030-0055 - Amendment of a Preliminary Certification

(1) If any change to the project as described in the preliminary certification occurs, an applicant must file a written amendment request with the Department prior to the completion of the rehabilitation project to amend a preliminary certification.

(2) The amendment request must be submitted on the Department-approved form (Short Line Railroad Rehabilitation Tax Credit Application for Preliminary Certification Amendment) and describe the changes to the project and reasons for the changes, including changes in rehabilitation project costs, project design, and any associated railroad mileposts.

(3) The application must also include a certification, executed by an authorized representative of the short line railroad, that certifies that the applicant's project meets the requirements for a short line railroad project set forth in ORS 315.591 - 315.603 and this division of administrative rules. The representative's certification must be a sworn statement attesting to the truth of the certification and attesting to the following:

(a) That the railroad is a short line railroad;

(b) That the leased or owned infrastructure on which the rehabilitation tax credit would be based is located in Oregon;

(c) The railroad mileposts that are adjacent to the leased or owned infrastructure;

(d) That the rehabilitation project costs are not funded by or used to qualify for any state or federal grants, or used to claim a federal tax credit (Regardless of whether the applicant applies for the federal tax credit under section 45G of the Internal Revenue Code, the amount applicant is eligible to qualify for under the federal tax credit shall be deducted from the applicant's rehabilitation project costs before calculating the applicant's Oregon tax credit.); and

(e) That the applicant is current on all state and local taxes, fees and assessments.

(4) If the amendment request does not include information needed to demonstrate compliance with any applicable rules or standards, the Department will provide the applicant a written notice relating to the information needed to make the request complete. If the applicant does not provide all of the requested information to the Department within 30 days of the notice, the amendment request with outstanding information will expire and no changes will be made to the preliminary certification.

(5) If the Department determines the amendment request complies with applicable rules or standards, the Department will issue an amended preliminary certification with the potential amount of the tax credit. The certification may contain new or amended conditions and requirements.

(6) If the amendment request does not comply with applicable statutes, rules or standards, the Department will issue an order that denies the change and provide written reasons for the denial.

Or. Admin. Code § 741-030-0055

RD 1-2019, temporary adopt filed 12/17/2019, effective 1/1/2020 through 6/28/2020; RD 1-2020, adopt filed 05/28/2020, effective 5/28/2020; RD 10-2021, minor correction filed 12/16/2021, effective 12/16/2021; RD 1-2024, amend filed 01/26/2024, effective 1/26/2024

Statutory/Other Authority: ORS 184.619, 823.011, 315.593 & 315.597

Statutes/Other Implemented: ORS 315.591 - 315.603