Or. Admin. Code § 660-029-0000
In 2007, Oregon voters approved Measure 49 (M49), which authorized certain property owners to develop additional home sites. M49 also authorized counties to establish a system for the purchase and sale of severable development interests (known as transferable development credits or TDCs) for the purpose of allowing development to occur in a location that is different from the location in which the M49 development interest arises (Oregon Laws 2007, chapter 424, subsection 11(8) and ORS 94.531). The purpose of this division is to provide a framework for counties to adopt local ordinances to establish these systems. These systems may enable landowners to realize the value of their M49 authorizations without developing the property from which the claims arose. These systems may allow landowners, on a voluntary basis, to transfer their development interests under M49 from one property to another property at a more suitable location, reducing the adverse impact of scattered M49 residential development on farm, forest and other resource land.
Or. Admin. Code § 660-029-0000
Stat. Auth.: ORS 197.040
Stats. Implemented: ORS 195.300-195.336; 2007 OL, ch. 424