Bill > HB3589

This bill establishes a senior housing development initiative within the Housing and Community Services Department to support housing for older adults and persons with disabilities. The initiative aims to incentivize housing that prioritizes visitability and accessibility by making state and federal resources available for housing development, rehabilitation, and preservation. The department will provide technical assistance to developers, housing providers, and local governments to support housing design and services that enable older adults to age well in their homes and communities. The bill transfers $24 million from the Senior Property Tax Deferral Revolving Account to the General Fund and appropriates $23.5 million for housing development and $500,000 for technical assistance related to the initiative. Additionally, the bill modifies existing tax credit provisions for lending institutions that make qualified loans for affordable housing, expanding the circumstances under which such credits can be claimed and allowing credits for projects receiving moneys from the Elderly and Disabled Housing Fund. The Department of Revenue will be responsible for estimating and managing transfers from the Senior Property Tax Deferral Revolving Account, with provisions for transferring excess funds to support the senior housing development initiative.

Budget and Finance, Housing and Urban Affairs, Transportation and Infrastructure

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3589