1. (1) For a renewable energy resource equipment manufacturing facility, the total cost that receives a preliminary certification from the Director of the Oregon Business Development Department for tax credits in any calendar year may not exceed:

   1. (a) $2.5 million in the case of a facility used to manufacture electric vehicles or component parts of electric vehicles; or
   2. (b) $40 million, in the case of any other facility.

2. (2) Notwithstanding subsection (1) of this section, the director may certify a lesser amount than the total cost of the facility, or need not certify any amount, if any of the following conditions exist at the time of preliminary certification:

   1. (a) The last quarterly economic and revenue forecast for a biennium indicates that moneys available to the General Fund for the next biennium will be at least three percent less than appropriations from the General Fund for the current biennium;
   2. (b) A quarterly economic and revenue forecast projects that revenues in the General Fund in the current biennium will be at least two percent below what revenues were projected to be in the revenue forecast on which the legislatively adopted budget, as defined in ORS 291.002, for the current biennium was based;
   3. (c) The proposed facility, in the estimate of the director, does not possess the likelihood of success established in criteria of success under ORS 285C.543 (5);
   4. (d) The proposed facility, in the estimate of the director, is not likely to increase employment in Oregon to the minimum levels required in rules adopted under ORS 285C.543 (3);
   5. (e) The applicant lacks the minimum level of financial viability established in rules adopted under ORS 285C.543 (5);
   6. (f) The applicant is unlikely, in the estimate of the director, to base a decision to relocate or expand a facility in Oregon on allowance of the tax credit, given the criteria established in rules under ORS 285C.543 (6); or
   7. (g) During a time period listed in section 15, chapter 474, Oregon Laws 2011, the director receives applications for preliminary certification with a total amount of potential tax credits in excess of the limitation for the time period.
3. (3) The director shall determine the dollar amount certified for any facility and the priority between applications for certification based upon the criteria contained in ORS 285C.540 to 285C.559 and applicable rules and standards adopted under ORS 285C.540 to 285C.559. The director may consider the status of a facility as a research, development or demonstration facility of new renewable resource generating and conservation technologies in the determination.

[2011 c.474 §7]