SB 676
Limits the interest rate to no more than the prime rate plus one percent for loans advanced under the veterans' home and farm loan program.
| Status | In Senate Committee (SVEMFW) |
| Requested by | (at the request of Senator Noah Robinson) |
| Sponsors | Daniel Bonham (Republican) (Chief), Noah Robinson (Republican) (Chief), David Brock Smith (Republican) (Chief) |
| Fiscal impact | Fiscal impact issued |
| Revenue impact | No revenue impact |
Bill Text
Limits interest rates to no more than prime plus one percent for loans under the veterans’ home and farm loan program and appropriates funds for these loans.
Overview#
Digest: Limits the interest rate to no more than the prime rate plus one percent for loans advanced under the veterans’ home and farm loan program. (Flesch Readability Score: 66.4). Limits the interest rate to no more than the prime rate plus one percent for loans advanced under the veterans’ home and farm loan program. Appropriates moneys from the General Fund to the Department of Veterans’ Affairs for deposit in the Oregon War Veterans’ Fund, for the biennium beginning July 1, 2025, to be used to advance loans to qualified veterans for the acquisition of farms and homes.
Public Testimony
| Name | Organization | Position | Date |
|---|---|---|---|
| Monique Bochsler | Scio | Support | 2025-01-28 |
| David Wall | Newberg | Oppose | 2025-01-29 |
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-13 | S | Introduction and first reading. Referred to President's desk. |
| 2025-01-17 | S | Referred to Veterans, Emergency Management, Federal and World Affairs, then Ways and Means. |
| 2025-01-28 | S | Public Hearing held. |
| 2025-06-27 | S | In committee upon adjournment. |