OBA Stands Up for EETC - Good for Business and Environment
February 8th, 2008
OBA’s Environmental Enhancement Tax Credit is up for a hearing on Monday. The bill is being supported by a strong coalition of business leaders who will testify on behalf of the tax credit which provides a $10 million incentive for companies to exceed state and federal environmental regulations.
Some questions have been raised about this bill. Here are the answers.
- Question - Why not try to resurrect the old Pollution Control Tax Credit?
- Answer - The reason OBA is not pursuing the re-establishment of the PCTC is that we have determined the PCTC is no longer politically viable. The 2007 Legislative Session experienced a historic revenue increase, passed several new credits and expanded three existing tax credits. However, they chose to allow the 30-year program to expire and have made clear they do not intend to pursue the PCTC.
- Question - Is the process for applying for the Environmental Enhancement Tax Credit cumbersome or prohibitive?
- Answer - OBA has worked with the DEQ to establish clear guidelines for claiming the credits. DEQ representatives will testify on Monday, presenting the application process and the shared goal of incentivizing businesses to exceed environmental regulations.
- Question - Does the EETC undermine a coalition of supporters of the old PCTC?
- Answer - OBA began working in October to build a coalition in support of the politically viable EETC. On Monday, the Senate Finance Committee will hear from several manufacturers on the need for the tax credit and positive effect it will have on job creation and sustainability in Oregon.
Companies all across the state are supporting the EETC and saying a tax credit that encourages businesses to exceed environmental protection regulations is better than no tax credit at all.
Click here for more information about the EETC
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