HB 3487
Requires Housing and Community Services Department to report to Legislative Assembly on homeownership disparities by September 15 of each even-numbered year.
| Status | In House Committee (JWM) |
| Requested by | (at the request of Joint Taskforce on Addressing Racial Disparities in Home Ownership) |
| Sponsors | Ricki Ruiz (Democrat) (Chief), James Manning Jr. (Democrat) (Chief), Mark Gamba (Democrat), Maxine Dexter (Democrat) |
| Fiscal impact | Fiscal impact issued |
| Revenue impact | No revenue impact |
Bill Text
Requires the Housing and Community Services Department to report on homeownership disparities and implement financial literacy programs to support homeownership.
Overview#
Requires Housing and Community Services Department to report to Legislative Assembly on homeownership disparities by September 15 of each even-numbered year. Sunsets January 2, 2035. Requires department to identify and remove barriers to down payment assistance for individuals with individual taxpayer identification numbers and to report to Oregon Housing Stability Council. Requires department to convene and provide training programs for homeownership organizations and to evaluate and report on effectiveness of organization’s programs to council. Requires department to research existing financial literacy materials and to develop new materials and financial literacy pamphlet by September 15, 2025. Requires mortgage bankers and brokers to include financial literacy pamphlet with mortgages. Becomes operative January 1, 2026. .
Public Testimony
| Name | Organization | Position | Date |
|---|---|---|---|
| Richard Wisner | Siletz | Neutral | 2023-03-13 |
| Kevin Cronin | Housing Oregon | Support | 2023-03-15 |
| Sonia Capece | NeighborImpact | Support | 2023-03-15 |
| Karen Saxe | DevNW | Support | 2023-03-17 |
| Tess Freeman | Bend | Unknown | 2023-03-17 |
| Shannon Vilhauer | Habitat for Humanity of Oregon | Support | 2023-03-17 |
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2023-02-28 | H | First reading. Referred to Speaker's desk. |
| 2023-03-03 | H | Referred to Housing and Homelessness. |
| 2023-03-16 | H | Public Hearing held. |
| 2023-03-30 | H | Work Session held. |
| 2023-04-04 | H | Recommendation: Do pass and be referred to Ways and Means. |
| 2023-04-04 | H | Referred to Ways and Means by order of Speaker. |
| 2023-06-25 | H | In committee upon adjournment. |