2021 Oregon Revised Statutes
Chapter 315 - Personal and Corporate Income or Excise Tax Credits
Section 315.533 - Qualified equity investments.


(2) A person that makes a qualified equity investment shall, at the time of investment, earn a vested credit against the taxes otherwise due under ORS chapter 316 or, if the person is a corporation, under ORS chapter 317 or 318.
(3)(a) The total amount of the tax credit available to a taxpayer under this section shall equal 39 percent of the purchase price of the qualified equity investment.
(b) The taxpayer that holds a qualified equity investment on a particular credit allowance date of the qualified equity investment may claim a portion of the tax credit against its tax liability for the tax year that includes the credit allowance date equal to the applicable percentage for that credit allowance date multiplied by the purchase price of the qualified equity investment.
(4) The credit allowed under this section may not exceed the tax liability of the taxpayer for the tax year in which the credit is claimed.
(5) Any tax credit otherwise allowable under this section that is not used by the taxpayer in a particular tax year may be carried forward and offset against the taxpayer’s tax liability for the next succeeding tax year. Any credit remaining unused in the next succeeding tax year may be carried forward and used in the second succeeding tax year. Any credit remaining unused in the second succeeding tax year may be carried forward and used in the third succeeding tax year. Any credit remaining unused in the third succeeding tax year may be carried forward and used in the fourth succeeding tax year. Any credit remaining unused in the fourth succeeding tax year may be carried forward and used in the fifth succeeding tax year, but may not be used in any tax year thereafter.
(6) The following conditions must exist for a taxpayer to be eligible for the credit allowed under this section:
(a) A qualified community development entity that issues a debt instrument may not make cash interest payments on the debt instrument during the period commencing with its issuance and ending on its final credit allowance date in excess of the sum of the cash interest payments and the cumulative operating income, as defined in the regulations promulgated under section 45D of the Internal Revenue Code, of the qualified community development entity for the same period. Neither this paragraph nor the definition of "long-term debt security" provided in ORS 315.529 in any way limits the holder’s ability to accelerate payments on the debt instrument in situations where the qualified community development entity has defaulted on covenants designed to ensure compliance with this section or section 45D of the Internal Revenue Code.
(b) A business shall be considered a qualified active low-income community business for the duration of a qualified community development entity’s investment in or loan to the business, if it is reasonable to expect that at the time of the qualified community development entity’s investment in or loan to a qualified active low-income community business, the business will continue to satisfy the requirements for being a qualified active low-income community business throughout the entire period of the investment or loan.
(c) A qualified equity investment must be designated by the issuer as a qualified equity investment and be certified by the Oregon Business Development Department as not exceeding the limitation in ORS 285C.653. The qualified community development entity must keep sufficiently detailed books and records with respect to the investments made with the proceeds of the qualified equity investments to allow the direct tracing of proceeds into qualified low-income community investments in qualified active low-income community businesses in this state.
(d) The qualified community development entity shall report annually to the department:
(A) The number of employment positions created and retained as a result of qualified low-income community investments by the qualified community development entity;
(B) The average annual salary of positions described in subparagraph (A) of this paragraph; and
(C) The number of positions described in subparagraph (A) of this paragraph that provide health benefits.
(e) The maximum amount of qualified low-income community investments that may be made in a qualified active low-income community business and all of its affiliates, with the proceeds of qualified equity investments that have been certified under ORS 285C.650, shall be $8 million, whether made by one or several qualified community development entities.
(f) A qualified equity investment must be made before July 1, 2016. Nothing in this paragraph precludes an entity that makes a qualified equity investment prior to July 1, 2016, from claiming a tax credit relating to that qualified equity investment for each applicable credit allowance date.
(7) A taxpayer claiming a credit under this section may not claim any other credit under this chapter or ORS chapter 285C during the same tax year based on activities related to the same qualified active low-income community business. [2011 c.732 §4; 2013 c.744 §1]

Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 08 - Revenue and Taxation

Chapter 315 - Personal and Corporate Income or Excise Tax Credits

Section 315.004 - Definitions; adoption of parts of Internal Revenue Code and application of federal laws and regulations; technical corrections.

Section 315.037 - Tax expenditures applicable for limited time.

Section 315.047 - List of tax credits with revenue impact in excess of projection.

Section 315.051 - Report by Legislative Revenue Officer.

Section 315.053 - Restriction on types of transferees.

Section 315.056 - Conditions for transfer of tax credit.

Section 315.058 - Agency to provide tax credit approval information to Department of Revenue.

Section 315.061 - Suspension, revocation or forfeiture.

Section 315.068 - Claim of right income repayment adjustments.

Section 315.104 - Reforestation; rules.

Section 315.106 - Reforestation credit preliminary certificate; application; limitation calculation; rules; fee.

Section 315.108 - Annual reforestation credit cost limitation.

Section 315.113 - Voluntary removal of riparian land from farm production; rules.

Section 315.119 - On-farm processing facilities.

Section 315.123 - Minimum production and processing volume requirements; record- keeping requirements.

Section 315.138 - Screening devices, by-pass devices or fishways; rules.

Section 315.141 - Biomass production or collection; fee; rules; documentation.

Section 315.144 - Transfer of biomass credit; rules.

Section 315.154 - Definitions for crop donation credit.

Section 315.156 - Crop donation; forms.

Section 315.163 - Definitions for ORS 315.163 to 315.169.

Section 315.164 - Agriculture workforce housing projects; rules.

Section 315.167 - Agriculture workforce housing credit application; procedure; rules.

Section 315.169 - Agriculture workforce housing contributor credit; transfer of agriculture workforce housing owner or operator credit; continued eligibility; rules.

Section 315.174 - Livestock killed by wolf.

Section 315.176 - Bovine manure production or collection; rules.

Section 315.184 - Annual limitation on total amount of tax credits; proportionate reduction.

Section 315.204 - Dependent care assistance; rules.

Section 315.208 - Dependent care facilities.

Section 315.213 - Contributions to Office of Child Care.

Section 315.237 - Employee and dependent scholarship program payments.

Section 315.262 - Working family child care; rules.

Section 315.264 - Working family household and dependent care expenses; rules.

Section 315.266 - Earned income; use of individual taxpayer identification number in alternative; rules.

Section 315.271 - Individual development accounts.

Section 315.272 - Certain individual development account withdrawals.

Section 315.304 - Pollution control facilities.

Section 315.326 - Renewable energy development contributions; auction of tax credits; certification; rules.

Section 315.329 - Funding in lieu of tax credit certification.

Section 315.331 - Energy conservation projects.

Section 315.336 - Transportation projects.

Section 315.341 - Renewable energy resource equipment manufacturing facilities.

Section 315.354 - Energy conservation facilities.

Section 315.356 - Other grants as offset to cost of energy conservation facility; changes in eligibility for participation in other programs.

Section 315.357 - Time limit applicable to energy conservation tax credit.

Section 315.465 - Biofuels and fuel blends.

Section 315.469 - Biodiesel used in home heating.

Section 315.506 - New business facility in reservation enterprise zone or reservation partnership zone.

Section 315.507 - Electronic commerce in designated enterprise zone.

Section 315.508 - Recordkeeping requirements; disallowance of credit.

Section 315.514 - Film production development contributions; auction of tax credits; rules.

Section 315.516 - Funding in lieu of tax credit certification.

Section 315.517 - Water transit vessels.

Section 315.523 - Employee training.

Section 315.529 - Definitions.

Section 315.533 - Qualified equity investments.

Section 315.536 - Transferability of credit.

Section 315.591 - Definitions.

Section 315.593 - Short line railroad rehabilitation projects; rules.

Section 315.595 - Preliminary certification; application; allocation priority; rules.

Section 315.597 - Final certification; rules.

Section 315.599 - Fees; appropriation for expenses.

Section 315.610 - Long term care insurance.

Section 315.613 - Credit available to persons providing rural medical care and affiliated with certain rural hospitals.

Section 315.616 - Additional providers who may qualify for credit.

Section 315.619 - Credit for medical staff at type C hospital.

Section 315.622 - Rural emergency medical services providers.

Section 315.624 - Medical care to residents of Oregon Veterans’ Home.

Section 315.628 - Health care services under TRICARE contract.

Section 315.631 - Certification of health care providers; reports.

Section 315.640 - University venture development fund contributions.

Section 315.643 - Opportunity Grant contributions; auction of tax credits; certification; rules.

Section 315.646 - Funding in lieu of tax credit certification.

Section 315.650 - Higher education savings account or ABLE account contributions.

Section 315.653 - Forfeiture of prior tax relief; disallowed withdrawal or distribution.

Section 315.675 - Trust for Cultural Development Account contributions.