HB3232 • 2025

Removes the eligibility requirement for the low income rental housing property tax exemption that property of a limited equity cooperative be constructed or converted after the local governing body adopts the exemption program.

Housing Taxes

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Representative Nathanson,, Senator Manning Jr,, Golden, Representative Fragala,, Gamba,, Lively,, Munoz,, Nelson,, Senator Campos,, Patterson,, Pham,
Last action: 2025-06-11
Official status: Chapter Number Assigned
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.

Removes the eligibility requirement for the low income rental housing property tax exemption that property of a limited equity cooperative be constructed or converted after the local governing body adopts the exemption program.

Digest: The Act would ease one of the rules for an existing limited equity co-op to be able to claim the low income rental housing tax break.

What This Bill Does

Digest: The Act would ease one of the rules for an existing limited equity co-op to be able to claim the low income rental housing tax break.
(Flesch Readability Score: 60.0).
Removes the eligibility requirement for the low income rental housing property tax exemption that property of a limited equity cooperative be constructed or converted after the local governing body adopts the exemption program.
Takes effect on the 91st day following adjournment sine die.

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

2025-06-11 House
Chapter 211, (2025 Laws): effective on the 91st day following adjournment sine die.
2025-05-28 House
Governor signed.
2025-05-22 House
Speaker signed.
2025-05-22 Senate
President signed.
2025-05-21 Senate
Third reading. Carried by Starr. Passed. Ayes, 27; Excused, 3--Bonham, Manning Jr, Taylor.
2025-05-20 Senate
Carried over to 05-21 by unanimous consent.
2025-05-19 Senate
Carried over to 05-20 by unanimous consent.
2025-05-15 Senate
Recommendation: Do pass.
2025-05-15 Senate
Second reading.
2025-05-12 Senate
Work Session held.
2025-05-05 Senate
Public Hearing held.
2025-04-10 House
Third reading. Carried by Nathanson. Passed. Ayes, 54; Excused, 4--Cate, Lewis, Nguyen H, Owens; Excused for Business of the House, 2--Drazan, Speaker Fahey.
2025-04-10 Senate
First reading. Referred to President's desk.
2025-04-10 Senate
Referred to Finance and Revenue.
2025-04-09 House
Rules suspended. Carried over to April 10, 2025 Calendar.
2025-04-08 House
Rules suspended. Carried over to April 9, 2025 Calendar.
2025-04-07 House
Second reading.
2025-04-03 House
Recommendation: Do pass.
2025-04-01 House
Work Session held.
2025-01-28 House
Public Hearing held.
2025-01-17 House
Referred to Revenue.
2025-01-13 House
First reading. Referred to Speaker's desk.

Official Summary Text

Digest: The Act would ease one of the rules for an existing limited equity co-op to be able to claim the low income rental housing tax break. (Flesch Readability Score: 60.0).
Removes the eligibility requirement for the low income rental housing property tax exemption that property of a limited equity cooperative be constructed or converted after the local governing body adopts the exemption program.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to exemption of property owned by a limited equity cooperative; and prescribing an effective date.
Current location: Chapter Number Assigned

Current Bill Text

Read the full stored bill text

83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Enrolled
House Bill 3232
Sponsored by Representative NATHANSON, Senators MANNING JR, GOLDEN; Representatives
FRAGALA, GAMBA, LIVELY, MUNOZ, NELSON, Senators CAMPOS, PATTERSON, PHAM
K (Presession filed.)
CHAPTER .................................................
AN ACT
Relating to exemption of property owned by a limited equity cooperative; creating new provisions;
amending ORS 307.520; and prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 307.520 is amended to read:
307.520. (1) Property or a portion of property owned by a limited equity cooperative is exempt
from taxation as provided under ORS 307.515 to 307.523 if:
(a) The property is occupied by low income persons holding a proprietary lease in the limited
equity cooperative;
(b) The charges paid by the occupant to the limited equity cooperative for occupancy reflect the
full value of the property tax exemption;
(c) The exemption has been approved as provided in ORS 307.523, pursuant to an application
filed before July 1, 2030; and
[(d) The housing units on the property were constructed, or converted to limited equity cooperative
ownership, after the local governing body adopted the provisions of ORS 307.515 to 307.523; and ]
[(e)] (d) The information disclosed on the application filed pursuant to ORS 307.521 meets any
other criteria adopted by the governing body.
(2) A governing body that adopts the provisions of ORS 307.515 to 307.523 may adopt additional
criteria for exemption that do not conflict with the criteria described in subsection (1)(a) to [ (d)] (c)
of this section.
SECTION 2. The amendments to ORS 307.520 by section 1 of this 2025 Act apply to claims
for exemption under ORS 307.520 for property tax years beginning on or after July 1, 2026.
SECTION 3. This 2025 Act takes effect on the 91st day after the date on which the 2025
regular session of the Eighty-third Legislative Assembly adjourns sine die.
Enrolled House Bill 3232 (HB 3232-INTRO) Page 1
Passed by House April 10, 2025
..................................................................................
Timothy G. Sekerak, Chief Clerk of House
..................................................................................
Julie Fahey, Speaker of House
Passed by Senate May 21, 2025
..................................................................................
Rob Wagner, President of Senate
Received by Governor:
........................M.,........................................................., 2025
Approved:
........................M.,........................................................., 2025
..................................................................................
Tina Kotek, Governor
Filed in Office of Secretary of State:
........................M.,........................................................., 2025
..................................................................................
Tobias Read, Secretary of State
Enrolled House Bill 3232 (HB 3232-INTRO) Page 2