Oregon Revised Statutes Revenue and Taxation § 311.780

(1) Upon receipt of the notification from the Department of Revenue of the amount deferred on tax deferred property under ORS 311.740 to 311.780, the Oregon Department of Administrative Services shall pay to the respective county tax collectors an amount equivalent to the full amount of tax listed by the Department of Revenue less three percent thereof.

(2) The Department of Revenue shall maintain accounts for each deferred property and shall accrue interest at the rate earned by the Oregon Short Term Fund established under ORS 293.728 on the gross amount of taxes advanced.

(3) The payment described in subsection (1) of this section shall be made only if there are moneys available in the General Fund for the payment because they are not appropriated or otherwise allocated for other purposes. Any moneys paid from the General Fund under this section shall be repaid to the General Fund with interest accrued at the rate described in subsection (2) of this section.