# ORS § 315.056: 315.056 Conditions for transfer of tax credit > Oregon · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.056 ## Section - **Citation:** ORS § 315.056 - **Heading:** 315.056 Conditions for transfer of tax credit - **Jurisdiction:** Oregon - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** OR Code / Title 29 / Chapter 315 / Section 315.056 ## Text (1) Transfer of any transferable tax credit that is allowed under this chapter or ORS chapter 316 or 317 and that is transferred on or after January 1, 2020, is conditioned upon compliance with this section and ORS 315.052 (Limitation on transfer or sale of credit) and 315.053 (Restriction on types of transferees) . (2) The Department of Revenue may require that the person that has earned the credit and the taxpayer that intends to claim the credit jointly file a notice of tax credit transfer with the department on or before the earliest of the following dates: (a) A date 30 days after the transfer of the credit; (b) The date on which the transferee files a return; or (c) The due date, including extensions, of the transferee’s return. (3) The notice shall be given on a form prescribed by the department that contains: (a) The name and address of the transferor and of the transferee; (b) The taxpayer identification number of the transferor and of the transferee; (c) The dates on which the person earning the credit received certifications for the credit; (d) The amount of the credit that is certified, the amount that is being transferred and the amount that is being retained by the transferor; and (e) Any other information required by the department. (4) Intentionally left blank —Ed. (a) If a tax credit must be claimed over multiple tax years, a transferor may separately transfer the entirety of that portion corresponding to each tax year to one or more transferees, subject to subsection (5) of this subsection. (b) Any amount of credit that would be allowed due only to a carryforward provision may not be transferred. (5) Any transfer of a tax credit or a portion of a tax credit must be completed no later than the earliest of the following dates in relation to the tax return on which it is claimed: (a) The original due date, including extensions, of the transferor’s return; (b) The date on which the transferor’s return is actually filed; (c) The original due date, including extensions, of the transferee’s return; or (d) The date on which the transferee’s return is actually filed. (6) Notwithstanding subsection (5) of this section, if the transferor is a tax-exempt entity, the transfer must be completed on or before a date one year after the close of the tax year for which the credit receives final certification. As used in this subsection “tax-exempt entity” means a government agency or an organization that is recognized as exempt under section 501(c)(3) of the Internal Revenue Code. (7) The transferee shall claim the credit in accordance with the credit provisions for the tax years in which the credit is allowed. (8) The department by rule may establish policies and procedures for the implementation of this section. [2019 c.483 §2] Source: Section 315.056 — Conditions for transfer of tax credit , https://www.­oregonlegislature.­gov/bills_laws/ors/ors315.­html (accessed May 26, 2025). ## Nearby sections - [ORS § 315.004 315.004 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.004.md) - [ORS § 315.037 315.037 Tax expenditures applicable for limited time](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.037.md) - [ORS § 315.044 315.044 Statement of purpose](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.044.md) - [ORS § 315.047 315.047 List of tax credits with revenue impact in excess of projection](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.047.md) - [ORS § 315.051 315.051 Report by Legislative Revenue Officer](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.051.md) - [ORS § 315.052 315.052 Limitation on transfer or sale of credit](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.052.md) - [ORS § 315.053 315.053 Restriction on types of transferees](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.053.md) - [ORS § 315.054 315.054 Federal tax credits allowable only as specified](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.054.md) - [ORS § 315.056 315.056 Conditions for transfer of tax credit](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.056.md) - [ORS § 315.058 315.058 Agency to provide tax credit approval information to Department of Revenue](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.058.md) - [ORS § 315.061 315.061 Suspension, revocation or forfeiture](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.061.md) - [ORS § 315.063 315.063 Waiver of substantiation by Department of Revenue](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.063.md) - [ORS § 315.068 315.068 Claim of right income repayment adjustments](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.068.md) - [ORS § 315.104 315.104 Reforestation](https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.104.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T29_C315_S315.056. Check the current official text before relying on it. Not legal advice.