Housing

Establishes the Housing Opportunity, Longevity and Durability Fund to deposit Article XI-Q bonds to be used by the Housing and Community Services Department to preserve affordable housing at risk of loss. [ Authorizes the State Treasurer to issue $100 million in bonds for the fund for the 2025-2027 biennium. ] Requires the department to, with input from stakeholders, report to the interim committees of the Legislative Assembly relating to housing on or before December 1, 2026, on legal and policy barriers to affordable housing production. Declares an emergency, effective on passage.

Prohibits cities and counties within the Portland MSA from enforcing requirements that developers provide affordable units in multiunit dwellings unless the city or county first calculates the developers' average expected losses due to providing affordable housing and the city or county offsets those losses. Becomes operative for rental housing on January 1, 2028. Becomes operative for all housing on January 1, 2029.