Bill > SB5505

This bill authorizes the issuance of various bonds and financing agreements for the State of Oregon during the 2025-2027 biennium, totaling over $7.4 billion across different categories. The bill breaks down bond authorizations into several key areas: general obligation bonds (approximately $2.34 billion) for projects including higher education infrastructure, community colleges, housing, corrections facilities, and state department improvements; revenue bonds (about $5.12 billion) for housing, transportation, and business development; and private activity bond allocations of $550 million for each of 2026 and 2027. The bill includes specific provisions requiring community colleges and public universities receiving bond funding to meet certain labor and workforce diversity requirements, such as employing apprentices for 15% of work hours, recruiting women, minority individuals, and veterans, and providing health and retirement benefits. Additionally, the bill sets limits on bond issuance for community college projects and includes specific conditions for certain projects, like the Coos Bay Channel Modification. The bill declares an emergency and is set to take effect on July 1, 2025, indicating its immediate importance for state infrastructure and economic development.

Budget and Finance, Transportation and Infrastructure

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB5505