(1) In any fiscal year, the amount of tax credits allowed under ORS § 315.326 may be reduced or eliminated, and the Legislative Assembly may, no later than 30 days prior to the end of each fiscal year, in lieu of the issuance of certifications for tax credit under ORS § 315.326 by the State Department of Energy, make an appropriation to the State Department of Energy for deposit into the Renewable Energy Development Subaccount, established in ORS § 470.805, of the Clean Energy Deployment Fund established in ORS § 470.800. Moneys deposited under this section are to be used only for purposes related to renewable energy development.

Terms Used In Oregon Statutes 315.329

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

(2) After a tax credit certificate has been sold as provided in ORS § 315.326, the State Department of Energy may not revoke the certificate. [2011 c.730 § 24; 2012 c.45 § 3]

 

[Repealed by 1965 c.26 § 6]

 

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