Relating to economic development; prescribing an effective date.

Summary

The bill establishes a refundable tax credit of up to 15% of qualified research expenses for companies that develop renewable energy, biotechnology or semiconductor products, with a $4 million cap per taxpayer. Companies must be certified by the Oregon Business Development Department and the credit amount is reduced based on the size of their Oregon workforce. Unused credits can be carried forward for up to five years.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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