Relating to brownfields; and prescribing an effective date.

Establishes program to make forgivable loans to reimburse private owner or operator of brownfield for eligible costs incurred in completion of removal or remedial action at brownfield. Requires Oregon Business Development Department to consider means to encourage participation in reimbursable removal and remedial actions by minority-owned and woman-owned businesses and emerging small businesses. Requires department to submit report to interim committees of Legislative Assembly related to economic development setting forth recipients of forgivable loans and third parties with which recipients contracted to complete removal and remedial actions with respect to which forgivable loans were made. Takes effect on 91st day following adjournment sine die.