Bill

Bill > HB3804


OR HB3804

Relating to a study concerning disparate homeownership access; prescribing an effective date.


summary

Introduced
02/27/2025
In Committee
03/04/2025
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 the DLCD to arrange a study of certain policies’ impact on disparate homeownership access. The Act tells the DLCD to report on the results of the study. The Act takes effect 91 days following sine die. (Flesch Readability Score: 61.3). Directs the Department of Land Conservation and Development to commission a study on poli- cies that may contribute to disparate access to homeownership. Sunsets on January 2, 2028. Takes effect on the 91st day following adjournment sine die.

AI Summary

This bill directs the Department of Land Conservation and Development (DLCD) to commission a comprehensive study on barriers to homeownership for underserved populations in Oregon. The study will examine historical and current policies that have created obstacles to homeownership, with a focus on understanding how past practices have impacted economically disadvantaged groups. The DLCD is required to partner with national and state research entities with expertise in housing and equity to conduct the study, which will analyze the effectiveness of existing approaches, review current efforts to increase credit and homeownership accessibility, and consider recommending special purpose credit programs designed to help underserved populations purchase homes. Key terms in the bill include "settlement statement" (a document detailing financial transactions in a home purchase), "eligible costs" (down payment and closing costs), and "special purpose credit program" (a targeted loan assistance program for specific populations). By December 15, 2027, the department must submit a report to legislative committees with comprehensive findings and recommended policy changes to address homeownership disparities. The study is time-limited, with the bill's provisions being repealed on January 2, 2028, and the bill itself taking effect 91 days after the legislative session adjourns.

Committee Categories

Housing and Urban Affairs

Sponsors (3)

Last Action

Referred to Housing and Homelessness. (on 03/04/2025)

bill text


bill summary

Loading...

bill summary

Loading...
Loading...