(1) A tax is hereby imposed for each taxable year on the homeowners association taxable income of every homeowners association at the rate provided in ORS 317.061 and as though the homeowners association were a corporation.\n(2) As used in this section, 'homeowners association' has the meaning given that term in section 528(c) of the Internal Revenue Code. [1977 c.597 §3; 1983 c.162 §6; 1999 c.21 §44; 1999 c.90 §22a]
Oregon Legal Code