OR HB3492 | 2023 | Regular Session
Status
Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 4)
Status: Failed on June 25 2023 - 100% progression
Action: 2023-06-25 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Sponsorship: Partisan Bill (Democrat 4)
Status: Failed on June 25 2023 - 100% progression
Action: 2023-06-25 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Summary
Directs Housing and Community Services Department by rule to establish and implement pilot program through which department cooperates with qualified lending institutions to provide 100 percent financing for residential property purchases to persons who qualify for special purpose credit programs. Directs Housing and Community Services Department by rule to establish and implement pilot program through which department cooperates with qualified lending institutions to provide 100 percent financing for residential property purchases to persons who qualify for special purpose credit programs. Authorizes department to enter into agreements with qualified lending institutions for purpose of implementing pilot program and specifies required terms and conditions of agreements. Specifies bases on which lending institution may become qualified lending institution. Requires department to offer second position mortgage loan for purchase of residential property to participants in amount that qualified lending institution does not fund with first mortgage loan. Specifies terms and conditions of second position mortgage loan. Establishes Special Purpose Credit Program Loan Fund in State Treasury, separate and distinct from General Fund. Appropriates moneys in fund continuously to department for purpose of making mortgage loans in connection with pilot program. Appropriates moneys from General Fund to department for purpose of making mortgage loans in connection with pilot program. Declares emergency, effective on passage.
Title
Relating to special purpose credit programs; declaring an emergency.
Sponsors
Roll Calls
2023-04-04 - House - House Committee Do pass with amendments and be referred to Ways and Means by prior reference. (Printed A-Eng.) (Y: 8 N: 2 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2023-06-25 | House | In committee upon adjournment. |
| 2023-04-07 | House | Referred to Ways and Means by prior reference. |
| 2023-04-07 | House | Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Ways and Means by prior reference. |
| 2023-04-04 | House | Work Session held. |
| 2023-03-16 | House | Public Hearing held. |
| 2023-03-03 | House | Referred to Housing and Homelessness with subsequent referral to Ways and Means. |
| 2023-02-28 | House | First reading. Referred to Speaker's desk. |
