- (1) The department may issue a preliminary certificate if it determines that the transit services are technically feasible and capable of operating in accordance with the representations made by the applicant. The department may issue a tax credit that is less than the amount requested in the transit services application, pursuant to statute and applicable rules.
- (2) The sum of any state or federal funding and the transit services incentive may not exceed project costs.
- (3) The preliminary certificate will state the qualifying project cost, the potential amount of allowable tax credit and any conditions for claiming the credit.
- (4) A preliminary certification remains valid for a period of three calendar years after the date the department issues the original preliminary certification or until the sunset of the program, whichever comes first.
Statutory/Other Authority
ORS 469.040 & 469B.347
Statutes/Other Implemented
ORS 469B.320–469B.347, 315.336 & OL 2012 Ch. 45
History
DOE 5-2012, f. & cert. ef. 6-11-12