OR HB2693

Authorizes the State Treasurer to issue lottery bonds producing $15 million in net proceeds for the biennium beginning July 1, 2025, with bonds to be issued no later than June 30, 2026

Deposits bond proceeds into the Levee Project Grant Fund administered by the Oregon Business Development Department for investigating levee adequacy and improving levees to achieve certification and accreditation

Planning project grants capped at $2 million per applicant per biennium; construction/capital improvement grants limited to 80% of total project cost with 20% matching funds required from applicants

At least 60% of grant funds each biennium must assist levee projects in rural or distressed areas

Declares an emergency, making the act effective July 1, 2025