Tax Fairness Oregon helped put the overly generous Business Energy Tax Credits (BETC) on the media’s radar. We started raising the issue in 2008
Prior to 2007, the maximum BETC tax credit was $3.85 million. The 2007 legislature raised the maximum to as much as $22 million. The cost to the General Fund has been explosive, rising from $20 million in 2005-07 to an anticipated $230 million in 2011-13.
We worked long and hard to shepherd HB 2742 through the 2009 legislature, a bill to tighten the BETC’s application and reduce excesses in the BETC. Unfortunately the Governor vetoed this bill. Hopefully the legislature will override that veto in the February 2010 session.
We’ve begun pointing out additional problems with Oregon’s approach to stimulating the energy and conservation sectors.