HB2878 • 2025

Authorizes the State Treasurer to issue general obligation bonds under Article XI-E of the Oregon Constitution in an amount that produces $500 million in net proceeds for a Strategic Carbon Sequestration and Forestry Sustainability Program.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Representative Evans
Last action: 2025-06-27
Official status: In House Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Authorizes the State Treasurer to issue general obligation bonds under Article XI-E of the Oregon Constitution in an amount that produces $500 million in net proceeds for a Strategic Carbon Sequestration and Forestry Sustainability Program.

Digest: The Act tells an agency to create a program for sequestering carbon.

What This Bill Does

Digest: The Act tells an agency to create a program for sequestering carbon.
The Act allows the State Treasurer to issue certain bonds for the program.
(Flesch Readability Score: 65.5).
Authorizes the State Treasurer to issue general obligation bonds under Article XI-E of the Oregon Constitution in an amount that produces $500 million in net proceeds for a Strategic Carbon Sequestration and Forestry Sustainability Program.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2025-06-27 House
In committee upon adjournment.
2025-01-17 House
Referred to Climate, Energy, and Environment with subsequent referral to Ways and Means.
2025-01-13 House
First reading. Referred to Speaker's desk.

Official Summary Text

Digest: The Act tells an agency to create a program for sequestering carbon. The Act allows the State Treasurer to issue certain bonds for the program. (Flesch Readability Score: 65.5).
Authorizes the State Treasurer to issue general obligation bonds under Article XI-E of the Oregon Constitution in an amount that produces $500 million in net proceeds for a Strategic Carbon Sequestration and Forestry Sustainability Program.
Directs the State Forestry Department to establish a Strategic Carbon Sequestration and Forestry Sustainability Program.
Relating to: Relating to carbon sequestration.
Current location: In House Committee

Current Bill Text

Read the full stored bill text

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
House Bill 2878
Sponsored by Representative EVANS (Presession filed.)
SUMMARY
The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject
to consideration by the Legislative Assembly. It is an editor’s brief statement of the essential features of the
measure as introduced. The statement includes a measure digest written in compliance with applicable readability
standards.
Digest: The Act tells an agency to create a program for sequestering carbon. The Act allows
the State Treasurer to issue certain bonds for the program. (Flesch Readability Score: 65.5).
Authorizes the State Treasurer to issue general obligation bonds under Article XI-E of the
Oregon Constitution in an amount that produces $500 million in net proceeds for a Strategic Carbon
Sequestration and Forestry Sustainability Program.
Directs the State Forestry Department to establish a Strategic Carbon Sequestration and
Forestry Sustainability Program.
A BILL FOR AN ACT
Relating to carbon sequestration.
Be It Enacted by the People of the State of Oregon:
SECTION 1.
(1) In addition to and not in lieu of any authorization to issue general obli-
gation bonds under ORS 286A.035, for the biennium beginning July 1, 2025, at the request of
the State Forestry Department, the State Treasurer is authorized to issue general obligation
bonds under Article XI-E of the Oregon Constitution, in accordance with the provisions of
ORS 530.210 to 530.280, in an amount that produces up to $500 million in net proceeds for the
purpose specified in subsection (2) of this section, plus an amount estimated by the State
Treasurer to be necessary to pay bond-related costs.
(2) Net proceeds of bonds issued under this section must be deposited in the State
Treasury as described in ORS 530.240 and used for the purposes described in section 2 of this
2025 Act.
(3) As used in this section, “bond-related costs” has the meaning given that term in ORS
530.005.
SECTION 2.
(1) The State Forestry Department shall establish a Strategic Carbon
Sequestration and Forestry Sustainability Program.
(2) The State Board of Forestry shall appoint a Strategic Carbon Sequestration and
Forestry Sustainability Advisory Board to advise the program.
(3) The program shall:
(a) Facilitate public-private partnerships related to forest management, forest rehabili-
tation and reforestation; and
(b) Promote longer-term forest growth cycles and other forest management strategies
that sequester carbon.
(4) The State Board of Forestry shall adopt rules to administer the program.
NOTE: Matter in boldfaced type in an amended section is new; matter [ italic and bracketed] is existing law to be omitted.
New sections are in boldfaced type.
LC 2039