Lottery bonds authorization for affordable housing. (1) Pursuant to ORS 286A.560 to 286A.585, at the request of the Oregon Department of Administrative Services, after the department consults with the Housing and Community Services Department, the State Treasurer is authorized to issue lottery bonds for the Housing and Community Services Department to provide financial assistance to aid in the acquisition, stabilization, renovation or maintenance of properties with project-based federal rental assistance contracts, public housing undergoing significant recapitalization or publicly supported housing as defined in ORS 456.766, or to preserve the affordability of manufactured dwelling parks

(2) The use of lottery bond proceeds is authorized based on the following findings:

(a) Individuals who are at risk of homelessness or who otherwise pay a disproportionate share of income for housing increase their potential for self-sufficiency, and use proportionately fewer community-funded resources when they are provided a stable housing environment.

(b) Having housing for at-risk populations is essential to Oregon’s healthy economic growth.

(3) The aggregate principal amount of lottery bonds issued pursuant to subsection (1) of this section may not exceed the amount of $161,301,718 plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs as defined in ORS 286A.560. [2009 c.906 §4; 2011 c.624 §3; 2013 c.786 §19; 2014 c.121 §15; 2015 c.812 §37; 2016 c.66 §4; 2017 c.748 §7; 2019 c.671 §7; 2021 c.682 §4; 2023 c.599 §9; 2025 c.633 §5]

Note: 456.575 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 456 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.