- (1) The Department of Revenue may recapture any portion of a tax credit per ORS 285C.656 and ORS 315.533.
- (2) The Department of Revenue may recapture any portion of a tax credit if the qualified community development entity applies for and receives qualified equity investment authority under ORS 285C.653(2) and OAR 123-630-0090(2) and fails to invest at least 85 percent of the cash purchase price of the QEI in qualified active low-income community businesses that satisfy the requirements of ORS 285C.653(2) and OAR 123-630-0090(2) within 12 months of the issuance of the qualified equity investment and maintain such level of investment in qualified active low-income community businesses satisfying such requirements until the last credit allowance date for such qualified equity investment.
Statutory/Other Authority
ORS 285C.656 & 315.526 – 315.536
Statutes/Other Implemented
ORS 285C.656 & 315.526 – 315.536
History
OBDD 11-2014, f. 6-30-14, cert. ef. 7-1-14
OBDD 6-2014, f. & cert. ef. 4-1-14
OBDD 9-2013(Temp), f. & cert. ef. 10-15-13 thru 4-11-14
OBDD 9-2012, f. & cert. ef. 6-1-12