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Umpqua Bank helped improve energy efficiency of Sutherlin schools in 2006.
First, some background. In 2001, the state’s legislature approved the Business Energy Tax Credit, also called “Betsy.” The legislation created the Pass-through Partner program as an energy conservation incentive for nonprofit organizations that do not pay state taxes.
Sutherlin School District #130 application for better lighting as an energy saving project was approved by the Oregon Department of Energy. Umpqua Bank served as the district’s partner.
After the lighting project was completed, the bank made a lump sum payment to the Sutherlin schools of $52,715. The State of Oregon issued the Business Energy Tax Credit certificate to Umpqua Bank. The bank applied this tax credit toward its tax liability.
Sutherlin School’s business manager Claire Cotton helped arrange these transactions. Rob Bashford, facilities manager, said the school district had contracted for an energy audit and, in three school buildings, replaced old florescent lights and ballasts or metal halide lights with new cooler, quieter, more efficient florescent light fixtures.
Electricity for lighting is expected to be cut in half.
Jill Farrow, vice president of finance, said the regional Umpqua Bank has partnered for energy saving projects with other nonprofits, including an organization that provides on-demand bus rides for handicapped people, a church that upgraded heating and cooling of its public day care facilities and a public library that improved its lighting.
For more information about Oregon Business Energy Tax Credit and its “Pass-through Option,” go to http://www.oregon.gov/ENERGY/CONS/BUS/BETC.shtml or call Joe Colello at the Oregon Department of Energy, (503) 378-8444.
First, some background. In 2001, the state’s legislature approved the Business Energy Tax Credit, also called “Betsy.” The legislation created the Pass-through Partner program as an energy conservation incentive for nonprofit organizations that do not pay state taxes.
Sutherlin School District #130 application for better lighting as an energy saving project was approved by the Oregon Department of Energy. Umpqua Bank served as the district’s partner.
After the lighting project was completed, the bank made a lump sum payment to the Sutherlin schools of $52,715. The State of Oregon issued the Business Energy Tax Credit certificate to Umpqua Bank. The bank applied this tax credit toward its tax liability.
Sutherlin School’s business manager Claire Cotton helped arrange these transactions. Rob Bashford, facilities manager, said the school district had contracted for an energy audit and, in three school buildings, replaced old florescent lights and ballasts or metal halide lights with new cooler, quieter, more efficient florescent light fixtures.
Electricity for lighting is expected to be cut in half.
Jill Farrow, vice president of finance, said the regional Umpqua Bank has partnered for energy saving projects with other nonprofits, including an organization that provides on-demand bus rides for handicapped people, a church that upgraded heating and cooling of its public day care facilities and a public library that improved its lighting.
For more information about Oregon Business Energy Tax Credit and its “Pass-through Option,” go to http://www.oregon.gov/ENERGY/CONS/BUS/BETC.shtml or call Joe Colello at the Oregon Department of Energy, (503) 378-8444.
