§ 315.130 — Revocation upon timber harvest or removal of harvest restriction; liability for tax; penalties

Oregon § 315.130

• Jurisdiction: Oregon
• Vol.: 8
• Title 29: Revenue and Taxation
• Ch. 315: Personal and Corporate Income or Excise Tax Credits

Text

(1) If a small forestland owner, or the owner’s estate, heirs or devisees, elects to conduct a timber harvest within a forest conservation area for which a tax credit has been allowed under ORS 315.124 and for which a harvest restriction has been recorded or otherwise elects to remove the harvest restriction, the certification of the credit shall be revoked and the Department of Revenue may proceed to collect any amounts not paid as a result of the credit, as provided in ORS 315.061.
(2)(a) If the timber harvest or the removal of a harvest restriction that results in revocation is conducted by an owner other than the small forestland owner that originally received certification for the credit under ORS 315.126, that successor owner shall be liable for the entire amount certified for credit under ORS 315.126. Interest shall be charged at the rate established in ORS 305.220 from the date of transfer of the title to the successor owner.
(b) A revocation under this subsection does not impair the right of a prior owner to claim the credit.
(3) After repayment is complete, the small forestland owner shall notify the State Forestry Department of the repayment and the department shall remove the record of the harvest restriction from the department reporting and notice system operated under ORS 527.786 to 527.793. The small forestland owner shall cause the deed restriction to be removed from the county deed records. The department shall provide the small forestland owner with appropriate documentation for this purpose.
(4) The small forestland owner that conducts the timber harvest shall be responsible for any penalties imposed for violations of the Oregon Forest Practices Act arising from the harvest.

Legislative History

2022 c.34 §5