HB 3236 Oregon House · 2025 Regular Session

Relating to tax credits for lending for affordable housing; prescribing an effective date.

Summary

] Expands purposes for the corporate excise tax credit allowed for affordable housing lending. [ Establishes the Affordable Housing Lender Fund. ] Allows a tax credit for contributions to [ the ] a qualified mortgage loan fund with the purpose of assisting certain home buyers. Allows credit for loans for preservation or rehabilitation of distressed properties without requiring typical rent reductions. Applies to loans made and tax years beginning on or after January 1, 2026. Takes effect on the 91st day following adjournment sine die.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 13, 2025 Last action Jun 28, 2025

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What changed between versions

Introduced → A-Engrossed · 4 edits

MODERATE

The bill was amended to clarify and expand the affordable housing tax credit program by adding a new 'qualified mortgage loan fund' definition, updating the list of eligible loan types, and broadening who can be considered a 'sponsoring entity' for preservation projects. These changes aim to make the program more flexible and accessible while maintaining its core goal of supporting affordable housing lending.

Scope change

The bill now applies to loans made and tax years beginning on or after January 1, 2026, and includes a new category of qualified loans through a 'qualified mortgage loan fund' in addition to existing loan types.

DEFINITION

Added a new definition for 'qualified mortgage loan fund' that specifies it must be operated by a lending institution, make mortgages to first-time home buyers, homes with land trust mortgages, and households at 80% or less of area median income.

ELIGIBILITY

Expanded the definition of 'sponsoring entity' to include state governmental entities, local units of government, housing authorities, and other persons who agree to restrictive covenants, broadening who can acquire preservation projects.

REQUIREMENT

Modified the 'qualified loan' definition to include a new option (C) for loans made through a qualified mortgage loan fund, in addition to the existing loan and bond purchase options.

TECHNICAL

Removed references to the deleted 'Affordable Housing Lender Fund' section and updated the digest to reflect that the act now includes provisions for preserving or rehabilitating distressed properties without requiring typical rent reductions.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jun 28, 2025

Lower · Passed

In committee upon adjournment.

lower

May 29, 2025

Committee

Referred to Tax Expenditures by order of Speaker.

lower

May 29, 2025

Lower · Passed

Recommendation: Do pass and be referred to Tax Expenditures.

lower

Apr 3, 2025

Committee

Referred to Revenue by prior reference.

lower

Apr 3, 2025

Lower · Passed

Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Revenue by prior reference.

lower

Jan 17, 2025

Committee

Referred to Housing and Homelessness with subsequent referral to Revenue.

lower

Jan 13, 2025

Introduced

First reading. Referred to Speaker's desk.

lower

1 primary · 3 co-sponsors