OAR 150-315-0012: Qualified Reforestation Costs

(1) For credits first claimed in tax years beginning on or after January 1, 2001, a credit is allowed in an amount equal to 50 percent of reforestation project costs paid or incurred to reforest underproductive Oregon forest lands. Qualified reforestation project costs are determined in accordance with Oregon State Department of Forestry rules, chapter 629, division 023 (e.g., Oregon Administrative Rules 629-023-410 to 629-023-460) and by ORS 315.104. Qualified project costs do not include amounts paid through federal or state cost share, financial assistance or other incentive programs. (2) Subject to the credit carryover provisions of ORS 305.104(5), one-half of the credit must be taken in the tax year for which the Department of Forestry issues a preliminary certificate certifying that certain conditions exist as stated in ORS 315.104(1). The balance of the credit must be taken in the tax year for which the forest is certified as being established.