Oregon HECC Tax Credit Auction
We are holding an online tax credit auction with the Higher Education Coordinating Commission (HECC) for 28,000 increments of $500 tax credit certificates. This auction runs December 7 to 11, 2020, with contributions going to the Opportunity Grant Fund.
Individuals and businesses with an Oregon income tax liability may bid on the certificates and claim the credits on 2020 tax returns. Any amount not allowed on your 2020 return can be carried forward up to three years. You can't transfer the credits to anyone else.
Bidding begins at 9 a.m. Pacific Standard Time (PST) December 7, 2020 and ends at 5 p.m. PST, December 11, 2020. We won't accept online bids before or after these times.
The minimum discount percentage is 90 percent of the credit value. Therefore, the minimum bid amount for each $500 credit increment is $450.
- The earlier you bid, the better. If there's a tie, the earliest bid wins.
- Bid as many times as you like. If you submit multiple bids, we will issue certificates for all winning bids. You can't change your bid once it's submitted.
- You must bid at least $450 per increment.
After placing your bid, deliver the following to our offices by
5 p.m. PST December 18, 2020:
Submit a separate
form and full payment for each bid. Payment must be a cashier's check, certified check, or money order made payable to Oregon Department of Revenue.
Tax Credit Auction form for mailing instructions. Note: All of our offices are located in areas designated by the governor to be at "Extreme Risk" for spreading COVID-19 and are closed to the general public. In-person payment appointments are allowed only at our main office in Salem, but timely appointments may not be available due to social distancing restrictions.
If your bid isn't successful, we'll return your payment to the address you provide on the form.
Your bid will be invalidated if:
- Your payment and form are late.
- Your payment isn't for the full amount or doesn't match your bid amount.
- You don't include the form with your payment, or the form is incomplete.
Certificates and unsuccessful bids
Certificates will be issued by the HECC, and unsuccessful bid payments will be returned by U.S. mail by January 8, 2021.
Note: Contributions are not deductible on your Oregon return.