HB 2705
Authorizes city or county to establish schedule in which, for 10 years, percentage of property tax exemption granted to affordable multiunit rental housing increases directly with percentage of units rented to households with annual income at or below 120 percent of area median income.
| Status | In House Committee (JCTE) |
| Sponsors | Jason Kropf (Democrat) (Chief), Emerson Levy (Democrat) (Chief) |
| Fiscal impact | Has minimal fiscal impact |
| Revenue impact | Revenue impact issued |
Bill Text
Authorizes cities and counties to establish property tax exemption schedules for affordable multiunit rental housing based on the percentage of units rented to low-income households.
Sponsors#
Chief Sponsors: Jason Kropf, Emerson Levy
Overview#
Authorizes city or county to establish schedule in which, for 10 years, percentage of property tax exemption granted to affordable multiunit rental housing increases directly with percentage of units rented to households with annual income at or below 120 percent of area median income. Takes effect on 91st day following adjournment sine die.
Public Testimony
| Name | Organization | Position | Date |
|---|---|---|---|
| Central Oregon Cities Organization | Tigard | Support | 2023-02-20 |
| Seiji Shiratori | Department of Revenue | Unknown | 2023-02-20 |
| Jodi Hack | Oregon Home Builders Association | Support | 2023-02-20 |
| Sara Odendahl | Bend | Support | 2023-02-20 |
| Lynne McConnell | Bend | Support | 2023-02-20 |
| Emerson Levy | HD53 | Support | 2023-02-21 |
| David Wall | Newberg | Oppose | 2023-02-21 |
| Erik Kancler | County Assessors | Neutral | 2023-04-07 |
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2023-01-09 | H | First reading. Referred to Speaker's desk. |
| 2023-01-16 | H | Referred to Housing and Homelessness with subsequent referral to Tax Expenditures. |
| 2023-02-21 | H | Public Hearing held. |
| 2023-03-23 | H | Work Session held. |
| 2023-03-24 | H | Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Tax Expenditures by prior reference. |
| 2023-03-24 | H | Referred to Tax Expenditures by prior reference. |
| 2023-04-07 | H | Public Hearing held. |
| 2023-06-25 | H | In committee upon adjournment. |