We just wanted to remind everyone that the Oregon Department of Revenue is planning to once again conduct a tax credit auction for the Oregon Production Investment Fund (OPIF) this July. The total amount of tax credits to be auctioned this year will be $10,000,000.
The process will be exactly the same as the successful auction conducted last July. We will be working hard to make sure all the tax credits sell out in the designated time frame. If we are successful in this goal, this will be the only opportunity for people to contribute to the fund and receive OPIF tax credits for 2015.
The online auction will begin July 8, 2015 at 9 am PDT at the following link:
The links to submit bids will not be active until that time, but complete information on the auction process and dates is available at the above link now.
Important things to keep in mind in preparation for the auction:
• The OPIF online auction will begin at 9 am Pacific Daylight Time (PDT) on Wednesday, July 8, 2015. It will end at 5 pm PDT on Friday July 17, 2015.
• No bids will be accepted before or after the designated times.
• Bidders must submit payment along with Form TCA by Friday, July 24, 2015 at 5 pm.
• There will be $10 million in tax credit certificates available for the auction.
• The credit certificates will be in $500 increments and the minimum bid will be $475.
If you have any questions about the OPIF tax credits or the auction process, please feel free to contact Tim Williams via email ([email protected]) or phone (971) 254-4020.