68th OREGON LEGISLATIVE ASSEMBLY--1996 Special Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 241

                           A-Engrossed

                        Senate Bill 1160
                Ordered by the Senate February 2
          Including Senate Amendments dated February 2

Sponsored by SPECIAL SESSION COMMITTEE ON CRIME AND CORRECTIONS


                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.

  Places moratorium on local real estate transfer taxes.

                        A BILL FOR AN ACT
Relating to taxation.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) A city, county, district or other political
subdivision or municipal corporation of this state shall not
impose, by ordinance or other law, a tax or fee upon the transfer
of a fee estate in real property, or measured by the
consideration paid or received upon transfer of a fee estate in
real property.
  (2) A tax or fee upon the transfer of a fee estate in real
property does not include any fee or charge that becomes due or
payable at the time of transfer of a fee estate in real property,
unless that fee or charge is imposed upon the right, privilege or
act of transferring title to real property.
  (3) Subsection (1) of this section does not apply to any fee
established under ORS 203.148.
  (4) Subsection (1) of this section does not apply to any tax if
the ordinance or other law imposing the tax is in effect and
operative on February 1, 1996.
  (5) Subsection (1) of this section does not apply to any tax if
the ordinance or other law imposing the tax first becomes
effective or operative on or after July 1, 1998. + }
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