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
Potential new amendment
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act would have Business Oregon look at how to use a loan loss reserve fund for infrastructure work by underserved communities in this state. The Act would require a report of the study be sent to the legislature. (Flesch Readability Score: 61.2). Requires the Oregon Business Development Department to study the use of a loan loss reserve fund to support infrastructure improvement projects by underserved communities in Oregon and submit a report to the legislature by September 15, 2026.
AI Summary
This bill requires the Oregon Business Development Department to conduct a study on using a loan loss reserve fund to support infrastructure improvement projects in underserved communities in Oregon. A loan loss reserve fund is a financial mechanism that helps reduce the risk for lenders by providing a cushion against potential loan defaults, which can make it easier for communities with limited resources to secure financing for infrastructure projects. The department is mandated to submit a report to the legislative committees related to economic development by September 15, 2026, and this report may include recommendations for future legislation. The bill includes a sunset provision that automatically repeals the study requirement on January 2, 2027, meaning the department's obligation to conduct the study and submit the report will expire at that time. This approach allows the legislature to evaluate the study's findings and potential next steps within a specific timeframe.
Committee Categories
Business and Industry
Sponsors (3)
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
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