2015 Oregon Revised Statutes
Volume : 08 - Revenue and Taxation
Chapter 315 - Personal and Corporate Income or Excise Tax Credits
Section 315.516 - Funding in lieu of tax credit certification.

(1) In lieu of the issuance of certifications for tax credit under ORS 315.514 by the Oregon Film and Video Office, the Legislative Assembly may, no later than 30 days prior to the end of each fiscal year, appropriate to the Oregon Business Development Department for deposit into the Oregon Production Investment Fund an amount equal to the total amount that would otherwise be certified for tax credits during the upcoming fiscal year, based on the amount of contributions and accompanying applications for credit received by the office during the fiscal year.

(2) If the Legislative Assembly makes the election allowed in subsection (1) of this section:

(a) Any contributions to the Oregon Production Investment Fund made for the upcoming fiscal year and for which an application for a credit under ORS 315.514 is pending shall, at the request of the taxpayer, be refunded by the Oregon Film and Video Office; and

(b) A credit under ORS 315.514 may not be claimed for any contribution made during the current fiscal year.

[2011 c.730 §13]

Note: 315.516 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 315 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.