The Oregon Department of Revenue will once again be conducting a tax credit auction for the Oregon Production Investment Fund (OPIF) in July. The auction is open to all Oregon tax payers. The total amount of tax credits to be auctioned this year will be $12 million.
The process will be exactly the same as the successful auction conducted last July. This is the largest amount of tax credits we have had available at one time, so it is a great opportunity for people who may have missed out on the previous auctions.
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 2016.
The online auction will begin July 11, 2016 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.
The most important points to know right now:
• The OPIF online auction will begin at 9 am Pacific Daylight Time (PDT) on Monday, July 11, 2016. It will end at 5 pm PDT on Friday July 15, 2016.
• No bids will be accepted before or after the designated times.
• Bidders must submit payment along with Form TCA by Friday, July 22, 2016 at 5 pm PDT.
• There will be $12 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.