Oregon Statutes 308.521 – Property of cooperative providing steam or hot water heat by combustion of biomass exempt
Current as of: 2023 | Check for updates
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(1) This section applies to a cooperative corporation organized under ORS Chapter 62 that is a company described in ORS § 308.515 (1), if more than 50 percent of the interest in the cooperative is owned by entities whose property is exempt from ad valorem property taxation under ORS § 307.090.
Terms Used In Oregon Statutes 308.521
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) Property that is owned or used by a cooperative for the purpose of providing steam or hot water heat by combustion of biomass, as defined in ORS § 315.141, is exempt from ad valorem property taxation.
(3) An exemption granted under this section does not relieve the cooperative of the obligation to file the statement required under ORS § 308.524. [2019 c.159 § 2]
[1991 c.459 § 144b; 1997 c.541 § 204; repealed by 2001 c.114 § 17]