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) Of a permanent character and accordingly strong enough to be suitable for repeated use; (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) 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. 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.
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