Relating to exemption from taxation for property of certain charitable institutions; prescribing an effective date.

Requires certain institutions seeking property tax exemption to file information return that states basis for exemption claim in terms derived from Oregon case law. Requires information return to be accompanied by institution's most recently required and timely filed Form 990 or Form CT-12. Requires institution that files Form 990-N to file information return containing information on institution's most recently required and timely filed Form 990-N. Denies exemption for noncompliance. Provides for clawback of exempt taxes upon discovery that information in return or in exemption claim was misleading or false. Requires county assessors to keep information returns as public records. Takes effect on 91st day following adjournment sine die.