department will announce the availability of tax credits for transit services
by issuing an Opportunity Announcement.
(2) The department will continually monitor
the allocation of tax credits to ensure that the total amount of potential tax
credits does not exceed the tax credit caps specified in ORS
(3) If the cumulative total of all tax
credits awarded under the Opportunity Announcement is less than the total
amount of tax credits available, the department may reallocate the balance to a
future Opportunity Announcement.
The Opportunity Announcement will include
the following information:
(a) Objectives for
the opportunity period;
amount and the percent level of tax credits available;
(c) Application requirements including the
time period during which transit services are eligible;
(d) Dates of the application opportunity
(e) Instructions and
directions to the required application forms and materials;
(f) Minimum technical standards;
(g) The process the department will use to
allocate tax credits; and
information the department considers necessary.