Loading
The Oregon Administrative Rules contain OARs filed through November 15, 2014
 
QUESTIONS ABOUT THE CONTENT OR MEANING OF THIS AGENCY'S RULES?
CLICK HERE TO ACCESS RULES COORDINATOR CONTACT INFORMATION

HIGHER EDUCATION COORDINATING COMMISSION
OFFICE OF STUDENT ACCESS AND COMPLETION

 

DIVISION 63

THE OREGON TAX CREDIT FOR EMPLOYERS AND BUSINESSES
WITH EMPLOYEES/EMPLOYEEDEPENDENTS SCHOLARSHIP PROGRAMS

575-063-0005

Definitions

(1) "An eligible employer.” An individual, partnership, or corporation that employs at least four full-time equivalent employees but no more than 250 employees, and must provide or intend to provide scholarship funds during the calendar year for which tax certification is being sought.

(2) "An eligible employee.” An employee of an eligible employer who has been employed by that employer for a minimum period of employment not to exceed three years.

(3) "Dependent.” An individual over half of whose support, for the calendar year in which the taxable year for the eligible employee taxpayer begins, was received from an eligible employee, consistent with the requirements of IRC S 152.

(4) "An eligible institution.” A post-secondary institution in the U.S that participates in federal Title IV student financial aid programs.

(5) "Concurrently enrolled.” A student who attends more than one eligible institution under a written consortium agreement or concurrent enrollment program.

(6) "Expenses.” Cost of education, which, is the sum of tuition and fees, room and board, books and supplies, transportation, and personal expenses incurred in the pursuit of a postsecondary education as determined by the institution.

(7) "Qualified Scholarship.” A scholarship that meets the criteria set forth or incorporated into the letter of employee and dependent scholarship program certification issued by the Commission.

Stat. Auth.: ORS 183 & 348
Stats. Implemented: HB 2521, 2001 Leg. Assembly
Hist.: OSAC 7-2002, f. & cert.ef. 3-12-02; OSAC 4-2008, f. & cert. ef. 10-15-08

575-063-0010

Employer Program Certification Procedures

(1) The application for program certification by an employer establishing an employer-sponsored scholarship program shall be filed by the employer with OSAC at least three months prior to the close of the first tax year for which a tax credit will be claimed.

(2) The application shall be filed on a form provided by the Commission and shall contain information required by the Commission including the following:

(a) The total number of employees employed by the employer for the calendar year and the total number of employees who will be eligible or whose dependents will be eligible to participate.

(b) The date on which scholarship program will first be available.

(c) The annual limit, if any, on the amount of funds to be used for scholarships; and

(d) The criteria to be used by the employer in determining the eligibility of an employee or an employee's dependent for a scholarship under the program.

(3) The Commission shall certify an application that meets all conditions of the scholarship program.

(4) The Commission shall certify or reject an application within 60 days of receipt of the application and shall notify the employer of the Commission's determination.

(5) For employers whose proposed scholarship program has been certified, the Commission shall send a letter of program certification to the employer.

(6) An employer whose application is rejected by the Commission shall have the opportunity to amend the application within 30 days of date of notification.

(7) A program certification issued under 575-063-0010 shall remain valid until the employer changes the terms of eligibility for a scholarship under the program, changes the minimum or maximum amount of a scholarship, or ceases to be an employer.

Stat. Auth.: ORS 183 & 348
Stats. Implemented: HB 2521, 2001 Leg. Assembly
Hist.: OSAC 7-2002, f. & cert.ef. 3-12-02; OSAC 4-2008, f. & cert. ef. 10-15-08

575-063-0020

Tax Credit Certification Procedures

(1) To qualify for tax credit, an employer who has obtained program certification or has applied for program certification shall submit an application for tax credit certification to the Commission.

(2) The employer shall file the application for tax credit certification no later than October 1 of the calendar year for which a tax credit will be claimed.

(3) The application shall be filed on a form provided by the Commission and shall include:

(a) The amount of scholarship funds the employer has provided or intends to provide during the calendar year for which tax certification is being sought; and

(b) The number of employees employed by the employer for the calendar year.

(4) The Commission will consider applications in the chronological order in which they are received.

(5) The Commission will approve no more than a total of $1 million in tax credit certifications annually in a calendar year.

(6) An employer may not receive a tax credit certification for more than $1 million in a lifetime.

(7) The Commission shall send written notification of the amount of the tax credit certification, if any, to all applicants and the Department of Revenue within 60 days of receipt of an application.

(8) The employer shall keep the written certification in the employer's records for at least five years and shall furnish the certification to the Department of Revenue if requested.

Stat. Auth.: ORS 183 & 348
Stats. Implemented: HB 2521, 2001 Leg. Assembly
Hist.: OSAC 7-2002, f. & cert.ef. 3-12-02; OSAC 4-2008, f. & cert. ef. 10-15-08

575-063-0030

General Program Policy

Employers who establish a scholarship program for their employees and/or dependents of their employees shall adhere to administrative rules as set forth in the Oregon Administrative Rules for Privately Funded Award Programs, division 60. The employer and the Commission shall agree to administer the employer-sponsored scholarship program according to a set of mutually agreeable rules. The employer and the Commission shall be governed by Section 117(b) of the Internal Revenue Code and regulations promulgated thereunder.

Stat. Auth.: ORS 183 & 348
Stats. Implemented: HB 2521, 2001 Leg. Assembly
Hist.: OSAC 7-2002, f. & cert.ef. 3-12-02; OSAC 4-2008, f. & cert. ef. 10-15-08

The official copy of an Oregon Administrative Rule is contained in the Administrative Order filed at the Archives Division, 800 Summer St. NE, Salem, Oregon 97310. Any discrepancies with the published version are satisfied in favor of the Administrative Order. The Oregon Administrative Rules and the Oregon Bulletin are copyrighted by the Oregon Secretary of State. Terms and Conditions of Use

Oregon Secretary of State • 136 State Capitol • Salem, OR 97310-0722
Phone: (503) 986-1523 • Fax: (503) 986-1616 • oregon.sos@state.or.us

© 2013 State of Oregon All Rights Reserved​