Current through Register Vol. 61, No. 4, April 1, 2022
(1) If the
department determines that the owner of a project under the OAHTC program is
not complying with any applicable rule, law, document or other OAHTC program
requirement, the department may notify the lending institution, the owner and
the sponsoring entity. In the notice, the department will describe the matter
of noncompliance, the required correction and the date by which correction must
be made. The owner and sponsoring entity may comment on the notice within the
period specified by the department and submit any accompanying explanation and
(2) The owner of a
project shall correct the noncompliance, if possible, and pay a penalty
established by the director for noncompliance under subsection (1) of this
section and any further penalties assessed by the department if the
noncompliance is not corrected to the satisfaction of the director within the
period established by the department. In assessing a penalty under this
section, the department shall take into consideration any comments submitted by
the owner and sponsoring entity with respect to the noncompliance and their
correction efforts, if any.
Penalties assessed under this rule may not exceed three times the amount of the
eligible tax credit per year.
Any penalties assessed under this rule are the liability of the owner and not
the liability of the lending institution.
Or. Admin. R.
HSG 6-1991(Temp), f. &
cert. ef. 11-5-91; HSG 3-1992, f. & cert. ef. 2-4-92; HSG 2-1995, f. &
cert. ef. 9-25-95; OHCS 7-2006, f. & cert. ef. 5-17-06; OHCS 9-2013(Temp),
f. & cert. ef. 6-21-13 thru 12-18-13; OHCS 22-2013, f. & cert. ef.
Stat. Auth.: ORS
Stats. Implemented: ORS