| Pass-through Partner Availability |
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| As of 2nd Quarter 2009 |
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As of 2nd Quarter 2009
The Oregon Department of Energy continues to get considerable requests from project owners searching for pass-through partners and from partners who are looking for projects. As a reminder to both project owners and partners, we provide the “matchmaking” service for no fee to either party. Pass-through partners can be businesses or individuals with an Oregon tax liability. More than 90 percent of pass-through partners are individuals.
If you are a project owner who has completed your project, it is imperative that you file your Application for Final Certification in a timely manner so we can match you up with a waiting partner. We match only completed projects on a first-in, first-out basis.
In addition, we attempt to “match” the amount of the projects with the amount a potential partner is looking for. We try and find the next available partner in the queue who is looking for approximately that amount of tax credit.
For example a $100,000 project will have a $35,000 (35%) tax credit. If we have a potential partner who is looking for that amount of tax credit and has the pass-through payment of $25,500 (25.5%) readily available to make the transaction today, we’ll proceed with the match of one project to one partner.
On larger projects with larger tax credits, it may be necessary to find multiple partners to take the entire tax credit amount. We attempt to keep the transaction as simple and transparent as possible for both project owners and partners. The fewer partners involved with each project, the easier it is for all concerned.
Finding a partner and processing a completed pass-through project can take a minimum of six to eight weeks due to the volume of projects we are receiving. Please be assured that we are matching partners and projects as quickly as possible.
Some important notes:
- It is NOT necessary to have a partner secured before you file your application for Preliminary Certificate or your application for Final Certification. Complete the partner information section of the application form with "to be identified."
- It is necessary to have the project and application for Final Certification completed (including project receipts or CPA letter) before the Oregon Department of Energy staff can begin the pass-through partner match process.
- The Oregon Department of Energy does not charge a fee to project owners or pass-through partners for securing and matching pass-through partners with eligible projects.
- Project owners have the ultimate responsibility to find their own partners. The Oregon Department of Energy does not “guarantee” a partner, however, we have had 100% completion rate over time in securing partners for completed projects.
- Pass-through partners serve as partners on a voluntary basis.
- Project owners can ask their vendors, banks, accountants, customers and others to be pass-through partners. Oregon Department of Energy staff will be happy to explain the process to potential partners.
Please note that the Oregon Department of Energy is the only entity that can certify the pass-through payment amount and issue a tax credit.
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Pass-through Partner Agreement Form
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