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ORS 308.701

Applied in 2 court decisions — leading case Dept. of Rev. v. Butte Creek Associates II (2006)

Most recently applied in Dept. of Rev. v. Butte Creek Associates II (July 2006)

2001 c.605 §2

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.

Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.