As part of the IDA Tax Credit Renewal, the Legislature also changed the specifics of how the tax credits will be sold and set a date that the changes must be in place as of October 5, 2015.
These changes present an opportunity to serve more Oregonians in different ways. The changes also presented an implementation hurdle, which led to a temporary pause in tax credit sales as of August 15.
We are working to finalize the new administrative rules and will be sharing details with you in the coming days on this blog.
For the remainder of 2015 we know two things for sure:
- We have about $2 million in tax credits left for 2015 and we expect they will go quickly
- The tax credit rate for credits from October 5, 2015 through the end of 2015 will be 70%
- No donations received before Oct. 5 will be accepted.
All other details will be updated frequently here at OregonIDAInitiative.org/news and via email.
We have some of our donor, CPA and financial advisor partners’ email addresses, but there are several hundred people whose email addresses we don’t have. If you want to be notified when we finalize our 2015 donation procedure, please confirm we have your email address by signing up here on our contact form: http://goo.gl/forms/DiVvkmyZja
We Need Your Feedback
As part of the Oregon IDA Initiative community, we also value your thoughts. We will be holding an in-person conversation in early November in Portland. We will also be providing other opportunities to provide feedback via conference call.
This session will be an opportunity to tell us what you would like to see from the IDA Tax Credit marketing process.
If you would like to provide feedback, sign up on our contact form to be given more details: http://goo.gl/forms/DiVvkmyZja