OAR 741-030-0040: Preliminary Certification Application

(1) Applicants requesting preliminary certification for a short line rehabilitation tax credit must submit their request during the application submission periods specified in OAR 741-030-0025. (2) Applicants requesting preliminary certification for a short line rehabilitation tax credit must apply on the Department-approved form (Short Line Railroad Rehabilitation Tax Credit Application for Preliminary Certification). (3) The application must also include a certification, executed by an authorized representative of the short line railroad, that certifies that the applicant’s project meets the requirements for a short line railroad project set forth in ORS 315.591 - 315.603 and this division of administrative rules. The representative’s certification must be a sworn statement attesting to the truth of the certification and attesting to the following : (a) That the railroad is a short line railroad; (b) That the leased or owned infrastructure on which the rehabilitation tax credit would be based is located in Oregon; (c) The railroad mileposts that are adjacent to the leased or owned infrastructure; (d) That rehabilitation costs are not funded by or used to qualify for any state or federal grants, or used to claim a federal tax credit (Regardless of whether the applicant applies for the federal tax credit under section 45G of the Internal Revenue Code, the amount applicant is eligible to qualify for under the federal tax credit shall be deducted from the applicant’s rehabilitation project costs before calculating the applicant’s Oregon tax credit.) ; and (e) That the applicant is current on all state and local taxes, fees and assessments. (4) For odd-numbered years, Applicant must specify which proposed expenses will be paid or incurred between January 1 and June 30, and which proposed expenses will be paid or incurred between July 1 and December 31.