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HB3036 • 2025

Expands purposes, for corporate excise tax credit allowed for affordable housing lending, for which a qualified borrower may use savings from a reduced interest rate to include provision of resident services or supportive services.

Expands purposes, for corporate excise tax credit allowed for affordable housing lending, for which a qualified borrower may use savings from a reduced interest rate to include provision of resident services or supportive services.

Housing Taxes
Passed Legislature

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

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

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2025-06-27 House

    In committee upon adjournment.

  2. 2025-01-17 House

    Referred to Housing and Homelessness.

  3. 2025-01-13 House

    First reading. Referred to Speaker's desk.

Official Summary Text

Digest: The Act makes changes to the tax credit for banks that lend to build housing. (Flesch Readability Score: 90.9).
Expands purposes, for corporate excise tax credit allowed for affordable housing lending, for which a qualified borrower may use savings from a reduced interest rate to include provision of resident services or supportive services.
Applies to tax years beginning on or after January 1, 2025.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to tax credits for affordable housing lending; prescribing an effective date.
Current location: In House Committee