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OregonSB 4652025 Regular SessionSenateWALLET

Relating to individual development accounts.

Sponsored By: Ricki Ruiz (Democratic), Suzanne Weber (Republican)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Oregon savers get new matching limits

For Oregon individual development accounts, the law replaces the $6,000-per-12-month limit with a $20,000 total cap on state-directed matching money. Account managers can set a lower annual matching limit. To receive tax-credit-eligible contributions, managers must offer a match of $1 to $5 for each $1 the saver deposits. Managers must keep matching money in a separate account they control, apart from the saver's account. The Housing and Community Services Department must report qualifying contributors to the Department of Revenue when state tax-reporting law requires it.

Sponsors & Cosponsors

Sponsors

  • Ricki Ruiz

    Democratic • House

  • Suzanne Weber

    Republican • Senate

Cosponsors

  • Annessa Hartman

    Democratic • House

  • Bobby Levy

    Republican • House

  • Boomer Wright

    Republican • House

  • Cedric Hayden

    Republican • Senate

  • Cyrus Javadi

    Democratic • House

  • Deb Patterson

    Democratic • Senate

  • Hoa Nguyen

    Affiliation unavailable

  • Janeen Sollman

    Democratic • Senate

  • Nathan Sosa

    Democratic • House

  • Virgle Osborne

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 95 • No: 0

House vote • 4/29/2025

Third reading. Carried by Ruiz. Passed.

Yes: 54 • No: 0

House vote • 4/24/2025

Early Childhood and Human Services: Heard and Reported Out

Yes: 7 • No: 0

Senate vote • 2/27/2025

Third reading. Carried by Weber. Passed.

Yes: 30 • No: 0

Senate vote • 2/18/2025

Human Services: Heard and Reported Out with Amendments

Yes: 4 • No: 0

Actions Timeline

  1. Effective date, January 1, 2026.

    5/14/2025Senate

  2. Chapter 48, 2025 Laws.

    5/14/2025Senate

  3. Governor signed.

    5/8/2025Senate

  4. Speaker signed.

    5/1/2025House

  5. President signed.

    4/30/2025Senate

  6. Third reading. Carried by Ruiz. Passed.

    4/29/2025House

  7. Potential conflict(s) of interest declared by Hartman.

    4/29/2025House

  8. Second reading.

    4/28/2025House

  9. Recommendation: Do pass.

    4/25/2025House

  10. Work Session held.

    4/24/2025House

  11. Public Hearing held.

    4/15/2025House

  12. Referred to Early Childhood and Human Services.

    3/10/2025House

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

    3/4/2025House

  14. Third reading. Carried by Weber. Passed.

    2/27/2025Senate

  15. Second reading.

    2/25/2025Senate

  16. Recommendation: Do pass with amendments. (Printed A-Eng.)

    2/24/2025Senate

  17. Work Session held.

    2/18/2025Senate

  18. Public Hearing held.

    2/4/2025Senate

  19. Referred to Human Services.

    1/17/2025Senate

  20. Introduction and first reading. Referred to President's desk.

    1/13/2025Senate

Bill Text

  • SHS Amendment -1 (Adopted)

    2/18/2025

    PDF

  • A-Engrossed

    PDF

  • Enrolled

    PDF

  • Introduced

    PDF

  • Senate Amendments to Introduced

    PDF

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