All cargo containers principally used for the transportation of cargo by vessels in trade and ocean commerce shall be exempt from taxation. The term “cargo container” means a receptacle:

1. (1) Of a permanent character and accordingly strong enough to be suitable for repeated use;
2. (2) Specially designed to facilitate the carriage of goods, by one or more modes of transport, one of which shall be by vessels, without intermediate reloading; and
3. (3) Fitted with devices permitting its ready handling, particularly its transfer from one mode of transport to another.

Note: Section 2, chapter 783, Oregon Laws 1979, provides:

Sec. 2. Cargo containers, as defined in ORS 307.835, are exempt from taxation for tax years beginning on or after July 1, 1974, and before July 1, 2026. [1979 c.783 §2; 1987 c.583 §1; 1995 c.748 §7; 2003 c.218 §1; 2009 c.548 §1; 2013 c.213 §1; 2019 c.578 §3]

Note: 307.835 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 307 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

[1979 c.783 §1]