HB 3302
Creates income or corporate excise tax credit for investment in affordable housing, available to taxpayer eligible for federal low-income housing credit, and allocated by Housing and Community Services Department.
| Status | In House Committee (JCTE) |
| Requested by | (at the request of Willamette Valley Legislative Fellowship) |
| Sponsors | Dan Rayfield (Democrat) (Chief), Maxine Dexter (Democrat) |
| Fiscal impact | Fiscal impact issued |
| Revenue impact | Revenue impact issued |
Bill Text
Creates an income or corporate excise tax credit for investments in affordable housing, available to taxpayers eligible for federal low-income housing credits.
Overview#
Creates income or corporate excise tax credit for investment in affordable housing, available to taxpayer eligible for federal low-income housing credit, and allocated by Housing and Community Services Department. Sets annual limit for total combined potential tax credits allocated to all taxpayers. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2039. Takes effect on 91st day following adjournment sine die.
Public Testimony
| Name | Organization | Position | Date |
|---|---|---|---|
| Layne Morrill | Yachats | Support | 2023-03-12 |
| Rafael Molina | Willamette Valley Legislative Fellowship | Support | 2023-03-13 |
| Amanda Perkins | Stewardship Development - Eugene | Support | 2023-03-14 |
| Scott Bruun | OBI | Support | 2023-03-14 |
| Sarah Stevenson | Portland | Support | 2023-03-14 |
| Riley Hill | Ontario | Support | 2023-03-14 |
| Adria Willoughby | Portland | Support | 2023-03-14 |
| Nathan Teske | Hillsboro | Unknown | 2023-03-15 |
| David Wall | Newberg | Oppose | 2023-03-15 |
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2023-02-21 | H | First reading. Referred to Speaker's desk. |
| 2023-02-23 | H | Referred to Housing and Homelessness with subsequent referral to Tax Expenditures. |
| 2023-03-14 | H | Public Hearing held. |
| 2023-03-30 | H | Work Session held. |
| 2023-04-03 | H | Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Tax Expenditures by prior reference. |
| 2023-04-03 | H | Referred to Tax Expenditures by prior reference. |
| 2023-06-25 | H | In committee upon adjournment. |