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OregonHB 24112025 Regular SessionHouseWALLET

Relating to industrial development.

Sponsored By: Sponsor information unavailable

Became Law

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 3 benefits, 0 costs, 2 mixed.

More financing tools for industrial sites

The department can give loans or buy a sponsor’s bonds for industrial land projects. It can extend credit, refinance short-term project debt, and buy goods or services for a sponsor. It can back guaranties that are paid only from the fund and are not state debt. Amounts and terms are set case-by-case. Projects must be owned and operated by the sponsor, or run under a sponsor management or operating agreement.

State fund backs industrial sites

The law creates the Industrial Site Loan Fund, kept separate from the General Fund. Money in the fund is continuously available to run the program and pay admin costs. The department can invest the fund and credit earnings to set accounts. It can make special accounts and promise by rule to fund them; those promises are state covenants. The department can also reserve future income after allowing for contingencies.

Loan terms, applications, and defaults

Sponsors must file a complete application with identity, project details, legal basis, activities, and cost estimates. The department approves or rejects under its rules, and rejections cannot be appealed. Agreements may require collateral, and the state’s payments depend on fund money being available; public projects need governing-body approval. Repayment with interest starts no later than seven years after completion, and the term cannot exceed the useful life or 30 years. If a sponsor defaults, the state may withhold amounts due and use legal remedies; withheld money returns to the fund, and the department may waive withholding.

What the fund covers and bars

The fund can pay for land assembly, roads, broadband, utilities, grading, brownfield cleanup under approved plans, interest, project management, consultants, construction, off-site property, and needed planning and permit work. It cannot pay penalties or fines. It cannot pay for certain hazardous cleanup if the sponsor is legally liable, retire debt, or cover ongoing operations or maintenance. It also cannot fund projects that mainly move existing in-state business, except to keep activity from leaving Oregon.

Forgivable planning loans with cap

The department offers forgivable loans for planning costs. It decides loan sizes case-by-case. It may spend no more than 1% of the fund’s value on planning projects in any two-year period. Planning can be stand-alone or lead to development, including brownfield planning.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 123 • No: 1

Senate vote • 6/27/2025

Rules suspended. Third reading. Carried by McLane. Passed.

Yes: 28 • No: 1

House vote • 6/26/2025

Third reading. Carried by Nguyen D. Passed.

Yes: 46 • No: 0

legislature vote • 6/24/2025

Ways and Means: Heard and Reported Out with Amendments

Yes: 40 • No: 0

House vote • 3/17/2025

Economic Development, Small Business, and Trade: Heard and Reported Out

Yes: 9 • No: 0

Actions Timeline

  1. Chapter 566, (2025 Laws): Effective date January 1, 2026.

    8/13/2025House

  2. Governor signed.

    7/24/2025House

  3. President signed.

    6/30/2025Senate

  4. Speaker signed.

    6/30/2025House

  5. Rules suspended. Third reading. Carried by McLane. Passed.

    6/27/2025Senate

  6. Second reading.

    6/27/2025Senate

  7. Recommendation: Do pass the A-Eng. bill.

    6/27/2025Senate

  8. Referred to Ways and Means.

    6/26/2025Senate

  9. First reading. Referred to President's desk.

    6/26/2025Senate

  10. Third reading. Carried by Nguyen D. Passed.

    6/26/2025House

  11. Second reading.

    6/25/2025House

  12. Recommendation: Do pass with amendments and be printed A-Engrossed.

    6/25/2025House

  13. Work Session held.

    6/24/2025House

  14. Returned to Full Committee.

    6/24/2025House

  15. Work Session held.

    6/24/2025House

  16. Assigned to Subcommittee On Capital Construction.

    6/12/2025House

  17. Referred to Ways and Means by prior reference.

    3/20/2025House

  18. Recommendation: Do pass and be referred to Ways and Means by prior reference.

    3/20/2025House

  19. Work Session held.

    3/17/2025House

  20. Public Hearing held.

    2/10/2025House

  21. Referred to Economic Development, Small Business, and Trade with subsequent referral to Ways and Means.

    1/17/2025House

  22. First reading. Referred to Speaker's desk.

    1/13/2025House

Bill Text

  • Enrolled

    6/28/2025

    PDF

  • A-Engrossed

    6/25/2025

    PDF

  • House Amendments to Introduced

    6/25/2025

    PDF

  • JWM Amendment -3 (Adopted)

    6/24/2025

    PDF

  • JWMCC Amendment -3 (Proposed)

    6/24/2025

    PDF

  • Introduced

    1/10/2025

    PDF

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