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OR HB2348
Bill
AI Summary
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Modifies Oregon Growth Board membership requirements, changing how the two legislative-affiliated members are recommended—one by the Senate President and one by the House Speaker (or House Minority Leader if both are from the same party)
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Expands brownfield forgivable loan program enhancements to allow deed restriction enforcement by Housing and Community Services Department in addition to local governments for affordable housing projects
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Changes the interest rate for unforgiven brownfield loans from the Federal Reserve discount window rate plus 3% to the prevailing bank prime loan rate as published in the Federal Reserve's H.15 (519) report
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Converts the mandatory 5% annual transfer from Oregon Port Revolving Fund to Port Planning and Marketing Fund into a discretionary transfer ("shall" changed to "may")
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Expands child care infrastructure grant eligibility to include all federally recognized Indian tribes in Oregon, removing the prior requirement that they participate in the Preschool Promise Program
Legislative Description
Relating to economic development programs.
Last Action
Chapter 253, (2025 Laws): Effective date January 1, 2026.
6/19/2025