Oregon Statutes 307.040 – Property of the United States; certain electricity transmission system property leased to United States
(1) As used in this section, ‘United States’ means the federal government or an agency or instrumentality of the federal government.
Terms Used In Oregon Statutes 307.040
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(2) Except as provided in ORS § 307.050, 307.060, 307.070 and 307.080, all property of the United States, its agencies or instrumentalities, is exempt from taxation to the extent that taxation of the property is forbidden by law.
(3) Notwithstanding ORS § 308.505 to 308.674, for purposes of this section, property the title to which is held by a person other than the United States and that is leased to the United States under a lease or lease-purchase agreement is property of the United States if:
(a) The property is operated or used in furtherance of a statutory responsibility of the United States with respect to a high-voltage electricity transmission system that the United States owns and operates within the Pacific Northwest;
(b) The property is constructed on or affixed to real property interests of the United States; and
(c) Upon expiration of the lease or lease-purchase agreement, the United States has an option to purchase the property for a nominal price, if the debt incurred by the person to acquire the property has been paid. [Amended by 1953 c.698 § 7; 2013 c.336 § 1]