Bill > SB713

This bill authorizes the State Treasurer to issue lottery bonds totaling $15 million, plus additional costs, to fund levee-related projects in Oregon. The bonds will be issued by June 30, 2026, and the net proceeds will be transferred to the Oregon Business Development Department for deposit in the Levee Project Grant Fund. The funds can be used for investigating and improving levees to help them become certified and accredited. The bill emphasizes the importance of levees as critical infrastructure and highlights that these projects will promote economic development. The legislation also modifies existing law to include these new lottery bond proceeds in the Levee Project Grant Fund, which already provides grants for levee projects. Existing fund rules remain in place, such as limiting planning project grants to $2 million per applicant per biennium and requiring that at least 60% of grant dollars support rural or distressed areas. The bill declares an emergency and will take effect on July 1, 2025, underscoring the urgency of supporting levee infrastructure improvements.

Agriculture and Natural Resources

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB713