Bill > HB2348

This bill makes several amendments to various Oregon Revised Statutes related to economic development programs. In Section 1, the bill modifies the composition of the Oregon Growth Board by changing how board members are appointed, specifically adjusting the requirements for political party representation and recommendations for board membership. Section 2 updates provisions for forgivable loans for brownfield remediation, expanding the circumstances under which additional loan enhancements can be granted, such as for electric vehicle charging stations, affordable housing development, and projects in economically disadvantaged areas. Section 3 revises the terms for loan forgiveness and repayment, including changing the interest rate calculation method. Section 4 allows the Oregon Infrastructure Finance Authority to make grants for port dredging in addition to capital improvement projects. Section 5 provides more flexibility in transferring funds between the Oregon Port Revolving Fund and the Port Planning and Marketing Fund. Section 6 makes technical modifications to the Water Fund's administration, and Section 7 updates definitions and eligibility criteria for child care facility infrastructure activities. The bill also includes a provision that certain amendments to brownfield loan provisions will apply retroactively to calendar years beginning on or after January 1, 2021.

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https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2348