Section 118.152 - Credit allowed for use of small forest owner minimum option(1) The definitions in ORS 315.124 apply to this section.(2) If, at the date of death, a decedent held the certification for a credit under ORS 315.124, the estate of the decedent shall be allowed a credit for use of the small forest owner minimum option, as provided in ORS 315.124, to the extent that the credit has not been used to offset income taxes.(3) If the forest conservation area for which a credit under ORS 315.124 was allowed is contained in the decedent's estate, and if the timber in the forest conservation area is subsequently harvested or otherwise removed in violation of the harvest restriction recorded for the forest conservation area, the Department of Revenue may impose additional tax, interest and penalties under ORS 118.005 to 118.540. The additional tax liability shall be the amount of credit used against the decedent's taxable estate.(4) The estate shall provide notice of the amount of credit received to the heirs or devisees, who will maintain records of the credit used.(5) Any unused amount of credit may be distributed to the heirs or devisees for use as a credit against the taxes imposed under ORS chapter 316, 317 or 318.Added by 2022 Ch. 34, § 9 118.152 was added to and made a part of ORS chapter 118 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.