OR HB3503

Appropriates $4,200,000 from the General Fund for the 2025-2027 biennium to the Housing and Community Services Department for disbursement to Community LendingWorks

Funds will support grants to public benefit corporations to acquire affordable housing from the Housing Authority of Clackamas County, repair and renovate units for energy efficiency, and operate them as a community land trust

Housing units must be sold exclusively to first-time home buyers who qualify as low-income households, with affordability restrictions limiting equity gains from property appreciation

Requires home buyer education and counseling services for purchasers and prospective purchasers

Program provisions are repealed on January 2, 2028, and the Act takes effect on the 91st day following adjournment of the 2025 legislative session