summary
Introduced
01/13/2025
01/13/2025
In Committee
03/13/2025
03/13/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act tells OHCS to change the HDIP. (Flesch Readability Score: 100.0). Directs the Housing and Community Services Department to amend its homeownership devel- opment incubator program for specified purposes. Sunsets on January 2, 2028.
AI Summary
This bill directs the Oregon Housing and Community Services Department (OHCS) to modify its Homeownership Development Incubator Program (HDIP) by July 1, 2026, with specific requirements to expand housing support. The modifications include funding housing development for households earning up to 120 percent of the area median income and providing predevelopment funding for housing developers. The bill appropriates $16.9 million from the General Fund for the 2025-2027 biennium to implement these changes, and the new provisions will automatically expire on January 2, 2028. By targeting households at or below 120 percent of area median income, the bill aims to support middle-income residents who may struggle to afford housing, while also providing financial assistance to developers to help facilitate new housing construction.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (2)
Last Action
Referred to Ways and Means by prior reference. (on 03/13/2025)
Official Document
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