OR SB5505

Authorizes $2.34 billion in general obligation bonds for the 2025-2027 biennium, including $468.2 million for the LIFT Affordable Rental Housing Program, $251.8 million for the Interstate 5 Bridge Replacement Project, and $120.9 million for public university capital improvements

Authorizes $5.12 billion in revenue bonds, with $1.3 billion allocated to Housing and Community Services Department pass-through bonds and $850 million for Department of Transportation highway user tax bonds

Allocates $550.3 million annually in private activity bonds for calendar years 2026 and 2027, with $450 million each year designated for affordable housing through Housing and Community Services Department

Requires contractors on public university capital projects exceeding $200,000 to employ apprentices for 15% of work hours, establish diversity outreach plans targeting 15% participation by women, minorities, and veterans, and provide health insurance and retirement benefits

Takes effect July 1, 2025 as an emergency measure, with conditions requiring environmental review completion and $1 billion federal financing for the Coos Bay Channel Modification project before bonds can be issued