HB 3680. House Revenue Committee. Business Energy Tax Credits (BETC).

Legislators, responding to the runaway costs of Oregon's Business Energy Tax Credit program, introduced HB 3680 to put some limits on the costs of this vital tax incentive program. HB 3680 changes the 5-year credit to a 6-year credit on projects exceeding $10 million by pushing back the credit until one full year after certification. Limits credit costs to individual wind projects down to $1.5 million by 2012. Places $300 million pre-certification limit for renewable projects and $200 million for manufacturing projects. HB 3680 will save the state $55 million in the current biennium.

Status: HB 3680 passed both House and Senate. On Governor's desk.