ORS 307.530: Termination if property held for future development or other purpose; additional taxes.

An exemption granted under ORS 307.515 to 307.523 shall be immediately terminated and additional taxes imposed as provided in ORS 307.531 if the exempt property: (1) Is being held for future development of low income rental housing; and (2) Is used for any purpose other than the provision of low income rental housing. [1997 c.752 §10]