The Department of Revenue may adopt rules under ORS 316.873 to 316.884 including rules that define what constitutes an interim holding of investment property by a qualified investment fund and an incidental holding of investment property by a qualified business activity or a qualified investment fund. [1995 c.809 §10]
Note: Section 11, chapter 809, Oregon Laws 1995, provides:
Sec. 11. (1) Sections 2 to 10 of this Act [316.873 to 316.883] apply to gain incurred from the sale or other disposition of a capital asset in tax years beginning on or after January 1, 1997, and to investments in qualified business interests, qualified investment funds or qualified business assets that occur on or before December 31, 1999.
(2)(a) The Department of Revenue, in conjunction with the Economic and Community Development Department and the Legislative Revenue Officer, shall prepare a report regarding the economic impact of sections 2 to 10 of this Act and shall present the report to those committees of the Seventieth Legislative Assembly to which revenue matters are assigned. The purpose of the report is to analyze the job creation and tax implications of sections 2 to 10 of this Act.
(b) The confidentiality requirements applicable to tax returns and the information contained therein shall not be applicable to the Economic and Community Development Department and the Legislative Revenue Officer for purposes of preparing the report described in paragraph (a) of this subsection. [1995 c.809 §11]Section: Previous 316.874 316.875 316.876 316.877 316.878 316.879 316.880 316.881 316.882 316.883 316.884 316.885 316.970 316.990 316.992 Next
Last modified: August 7, 2008