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Oregon Revised Statutes Revenue and Taxation § 308.701

Current as of January 01, 2023 | Updated by Findlaw Staff

As used in ORS 308.701 to 308.724:

(1) “Government restriction on use” means a restriction that limits the use of multiunit rental housing to qualified income rental housing in order to receive a government incentive, including but not limited to the following government incentives:

(a) A low income housing tax credit under section 42 of the Internal Revenue Code;

(b) Financing derived from exempt facility bonds for qualified residential rental projects under section 142 of the Internal Revenue Code;

(c) A low interest loan under section 235 or 236 of the National Housing Act (12 U.S.C. 1715z or 1715z-1) or under 42 U.S.C. 1485;

(d) A government rent subsidy; and

(e) A government guaranteed loan.

(2) “Multiunit rental housing”:

(a) Means residential property consisting of four or more dwelling units; and

(b) Does not include assisted living facilities.

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Cite this article: FindLaw.com - Oregon Revised Statutes Revenue and Taxation § 308.701 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-29-revenue-and-taxation/or-rev-st-sect-308-701/

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