OR SB829

Department of Consumer and Business Services must establish a program to help public, private, and nonprofit entities offset property and liability insurance premium costs for affordable housing, shelter facilities, Project Turnkey sites, and navigation centers

Creates the Affordable Housing Premium Assistance Fund with $2,474,644 appropriated from the General Fund for the 2025-2027 biennium to fund the premium assistance program

Department must study the feasibility of creating a state reinsurance program to support price stability in the insurance market for affordable housing, multifamily housing, and other residences

Allows insurance producers to place certain coverages directly with surplus lines insurers without first searching for authorized insurers, for coverage types published as generally unavailable in the authorized market for affordable housing

Program provisions sunset on December 31, 2028; annual reports to the legislature required by December 15 each year on program success and reinsurance study progress