Bill > HB3050

This bill establishes a new financial assistance program for Oregon ports, specifically targeting ports with existing container service (the handling of containerized cargo). The Oregon Business Development Department will develop the program, and the Oregon Infrastructure Finance Authority will administer it, creating the Port Capital Improvement Fund to support eligible port projects. The program allows Oregon ports to apply for financial assistance in the form of loans (including forgivable loans) and grants for infrastructure, capital improvements, or dredging projects. Applicants must demonstrate how their project will support existing container service, and the authority will establish a comprehensive application process that includes reviewing and approving or rejecting applications. Any financial assistance will be governed by a detailed agreement specifying repayment terms, performance expectations, and potential penalties. The fund will be supported by legislative appropriations, earnings, repayment amounts, federal or state government contributions, and potentially private sources. Administrative costs associated with investigating applications, monitoring projects, and managing the program will be charged to the fund. Importantly, ports can repay the financial assistance through project revenues, their general fund, or other lawful sources, providing flexibility in meeting their financial obligations.

Budget and Finance, Transportation and Infrastructure

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3050