Oregon clamps down on green tax credits

The state is making changes to the Business Energy Tax Credit to cut down on costs.

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New cost-cutting rules were announced for the state’s Business Energy Tax Credit, which grants tax subsidies for alternative-energy power plants.

The changes are intended to rein in some of the runaway costs of the program by making it harder for one project to qualify for multiple tax credits and by giving the Oregon Department of Energy greater leeway to deny an application.

The new rules also allow the state to withdraw the subsidy to a company that doesn’t produce the amount of energy, conservation or jobs it promised in its application. The rules become effective immediately but don’t apply to businesses that have already qualified for the tax credits.

Read the full story at OregonLive.com.

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