Bill > HB2725

This bill modifies Oregon's strategic investment program by narrowing the definition of which port districts must be involved in certain agreements. Specifically, the bill creates a new term "affected port," which is defined as a port district on the Columbia River that owns at least four industrial parks. The bill changes requirements for how county governing bodies can request property tax exemptions for eligible projects, including mandating that any project located within a port district's boundaries requires an agreement that includes the affected port. The bill also specifies a detailed process for fee collection and distribution when a project receives a property tax exemption, requiring agreements between the county, city, port, special districts, and local taxing districts. The fee is set at 25% of what the property taxes would have been, not exceeding $3 million annually, and will be adjusted each year based on the Consumer Price Index. The changes will apply to requests made on or after the bill's effective date, which is the 91st day after the 2025 legislative session adjourns. The primary goal appears to be providing more precise guidelines for strategic investment program agreements and port district involvement in economic development projects.

Budget and Finance, Transportation and Infrastructure

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2725