ORS Chapter 315 — Personal and Corporate

ORS 315.124. Small forestland owner using standard practice harvest restrictions; rules. (1) As used in ORS 315.124 to 315.132: (a) Common ownership means direct ownership by one or more individuals or ownership by a corporation, partnership, association or other entity in which an individual owns a significant interest. (b) Dry channel area means that area between the inside edge of the small forest owner minimum option and the edge of the dry stream channel that: (A) Is within a surveyed dry channel portion of a small nonfish perennial stream in Western Oregon that under the small forest owner minimum option is a required no-harvest buffer; (B) Does not flow water year-round; and (C) Is 100 feet or more in length. (c) Forest conservation area means a riparian forestland area that is not harvested, that is adjacent to a harvested riparian area and that is the excess riparian area allowed for harvest under the small forest owner minimum option beyond that allowed under the standard practice harvest restrictions, and any adjacent dry channel area. (d) Forestland has the meaning given that term in ORS 527.620. (e) Professional forester means a person that is engaged in the business of appraising or valuing timber or forestland as described in ORS 674.100. (f) Small forestland owner means a person that owns or holds common ownership in fewer than 5,000 acres of forestland. (g) Small forest owner minimum option means the option to harvest timber allowed to a small forestland owner under rules adopted under the Oregon Forest Practices Act. (h) Standard practice harvest restrictions means the harvest restrictions applicable to large forestland owners under the Oregon Forest Practices Act. (i) Stumpage value means the value of standing timber based on the value that would be received for the timber if harvested and delivered to a mill, minus the cost of harvest and delivery to the mill. (j) Timber harvest means a harvest type 1, harvest type 2 or harvest type 3, as those terms are defined in ORS 527.620. (k) Western Oregon means that area west of the crest of the Cascade Mountains. (2)(a) A credit against taxes that are otherwise due under ORS chapter 316 or, if the taxpayer is a corporation, under ORS chapter 317 or 318 is allowed to a taxpayer that is a small forestland owner that is eligible to conduct a timber harvest using a small forest owner minimum option and elects to use standard practice harvest restrictions instead. The credit shall be allowed for the tax year in which the timber harvest is completed. (b) A credit under this section may not be transferred to a successor forestland owner. (3) In order to be eligible for a credit under this section, a small forestland owner must: (a) Have harvested not more than two million board feet of merchantable forest products from forestland in this state owned by the small forestland owner, as averaged over the three years immediately preceding the date of filing a notification of operation as described in ORS 315.126; (b) Conduct a timber harvest in an area that is: (A) Adjacent to a riparian area subject to the Oregon Forest Practices Act; and (B) Equal in size to or larger than that portion of the forest conservation area that the small forestland owner elects not to harvest and upon which the small forestland owner claims the credit; and (c) Abide by the standard practice harvest restrictions, which shall remain in effect for the forest conservation area for which the small forestland owner claims the credit for 50 years beginning with the date on which the certification is issued under ORS 315.126. (4) The amount of the credit allowed under this section shall be based on the stumpage value of timber within the forest conservation area and shall be calculated as provided in ORS 315.128. (5) Prior to claiming the credit allowed under this section, a small forestland owner is required to receive written certification of eligibility from the State Forestry Department, as provided in ORS 315.126. (6) Upon the death of a small forestland owner that holds a certification under ORS