Bill
Bill > SB118
OR SB118
OR SB118Relating to property tax exemption for multiunit rental housing; prescribing an effective date.
summary
Introduced
01/13/2025
01/13/2025
In Committee
01/17/2025
01/17/2025
Crossed Over
Passed
Dead
06/27/2025
06/27/2025
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act would extend the property tax break for multiunit rental housing. (Flesch Readability Score: 60.7). Extends the sunset date for the property tax exemption for multiunit rental housing. Takes effect on the 91st day following adjournment sine die.
AI Summary
This bill extends the sunset date for a property tax exemption program for multiunit rental housing from January 2, 2027, to January 2, 2033. The legislation preserves the existing provision that any rental property already granted an exemption under the program before the new sunset date will continue to receive that tax break for the originally approved period. The bill uses technical language like "sine die" (meaning the final adjournment of a legislative session) to specify its effective date, which will be the 91st day after the 2025 regular session of the Oregon Legislative Assembly concludes. This extension allows continued support for multiunit rental housing development by maintaining a property tax incentive that encourages the creation of rental housing units, potentially helping to address housing availability and affordability challenges in Oregon.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Last Action
In committee upon adjournment. (on 06/27/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB118 |
| SB 118 (Witness Registration) | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/289600 |
| Hous Prop Tax Exempt Review SFR | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/289573 |
| SB 118 Preliminary SMS | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/289052 |
| Open Government Impact Statement for SB118 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/84317 |
| BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/SB118/Introduced |
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