A Reformed Energy Tax Credit, a Stagnant Investment Environment

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In 2007, the Oregon Business Energy Tax Credit ("BETC") program was significantly expanded and it resulted in unprecedented levels of investment in the Oregon economy in the renewable energy sector. This week, Gov. Kulongoski will sign HB 3680 into law, a law that attempts to rein in the BETC program by placing new financial limits on the BETC program and giving more discretion to the director of the Oregon Department of Energy to reject BETC applications and to reduce the amount of tax credits delivered to projects.

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