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House passes bill to modify manufacturing BETC

By: Angela Webber//June 9, 2011//

House passes bill to modify manufacturing BETC

Angela Webber//June 9, 2011//

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A bill that would move the administration of the for manufacturing passed the Oregon House this week and is on its way through the Senate.

would make changes to the way the credit is administered, but most of the changes codify practices already in place, said Rep. Tobias Read, D-Beaverton. The major change will move the program from the state Department of Energy to the Oregon Business Development Department, also known as Business Oregon.

鈥淭he bill codifies some things that Business Oregon is already doing, in terms of requiring that there be performance agreements made with credit recipients,鈥 Read said. Recipients will be held to agreements about job creation and the amount that employees are paid.

The bill doesn’t change the sunset date for the manufacturing , which is still December 31, 2013. There is a cap on credit allocations of $200 million per biennium, and an additional $50 million for the time between the biennium that ends in June 2013 and the credit’s sunset on Dec. 31 of that year.

Discussions are ongoing in the joint tax credit committee about the conservation and generation BETCs, which are scheduled to sunset next year.



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