Bill > HB2693

This bill authorizes the State Treasurer to issue lottery bonds to generate $15 million in net proceeds for the Levee Project Grant Fund, which is administered by the Oregon Business Development Department. The bonds, to be issued by June 30, 2026, will support levee-related projects such as investigating levee adequacy and improving levee certification and accreditation. The bill recognizes levees as critical infrastructure and argues that their inspection and repair will promote economic development. The legislation amends existing law to include these new lottery bond proceeds in the Levee Project Grant Fund and maintains existing grant rules, such as limiting planning project grants to $2 million per applicant per biennium, requiring at least 20% matching funds from applicants, and ensuring that 60% of grant funds are directed to rural or distressed areas. The bill declares an emergency, making it effective immediately on July 1, 2025, and emphasizes that the use of lottery bond proceeds will create jobs, support economic development, and help protect infrastructure and natural resources.

Budget and Finance, Military Affairs and Security

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2693