Chapter 458 — Chapter 458
118 sections in this chapter.
ORS 458.660 Agricultural Worker Housing Development Account. (1) Except as provided in subsection (2) of this section, the Housing and Community Services Department shall disburse the moneys credited to the Agricultural Worker Housing Development Account to expand this state’s supply of housing for low and very low income agricultural workers
0.2K chars
(2) The department may expend funds from the account for administration of the account as provided for in the legislatively approved budget, as that term is defined in ORS 291.002, for the department. [2001 c.310 §1; 2011 c.605 §4; 2021 c.525 §22]
ORS 458.665 General Housing Account; rules. (1) The Housing and Community Services Department shall administer the General Housing Account
2.0K chars
(2) The department shall disburse moneys credited to the account to accomplish the purposes described in ORS 456.515 to 456.828, except that 25 percent of moneys deposited in the account pursuant to ORS 294.187 is dedicated for expenditure to meet the critical housing needs of ve…
ORS 458.667 [2015 c.737 §1; 2017 c.661 §1; repealed by 2020 s.s.2 c.10 §40 and 2023 c.435 §6]
0.0K chars
INDIVIDUAL DEVELOPMENT ACCOUNTS
ORS 458.670 Definitions for ORS 458.670 to 458.700. As used in this section and ORS 458.675 to 458.700, unless the context requires otherwise
3.1K chars
(1) “Account holder” means a resident of this state who: (a) Is 12 years of age or older; (b) Is a member of a lower income household; and (c) Has established an individual development account with a fiduciary organization. (2) “Fiduciary organization” means an organization selec…
ORS 458.675 Legislative findings. The Legislative Assembly finds that
1.1K chars
(1) The problem of poverty will not be solved solely by government programs and income subsidies. (2) Family economic well-being does not come solely from income, spending or consumption, but instead requires savings, investment and the accumulation of assets. (3) It is appropria…
ORS 458.680 Persons qualifying as account holders. (1) A person who qualifies to become an account holder may enter into an agreement with a fiduciary organization for the establishment of an individual development account
1.2K chars
(2) To become an account holder a person must, in addition to meeting any other qualifications, be a member of a lower income household that has a net worth of less than $20,000. (3) Every account holder, with support from the fiduciary organization, shall develop a personal deve…
ORS 458.685 Approved purpose of account; emergency withdrawal; withdrawal upon achievement of account purpose; removal of account holder from program. (1) A person may establish an individual development account only for a purpose approved by a fiduciary organization. Purposes that the fiduciary organization may approve are
7.2K chars
(a) The acquisition of post-secondary education or job training. (b) If the account holder has established the account for the benefit of a household member who is under the age of 18 years, the payment of extracurricular nontuition expenses designed to prepare the member for pos…
ORS 458.690 Required account features. (1) A fiduciary organization selected under ORS 458.695 may qualify as the recipient of account contributions that qualify the contributor for a tax credit under ORS 315.271 only if the fiduciary organization matches amounts deposited by the account holder according to a formula established by the fiduciary organization of not less than $1 nor more than $5 for each $1 deposited by the account holder. The matching funds must be deposited into a designated account that is controlled by the fiduciary organization and is separate from the savings account of the account holder
1.0K chars
(2) A fiduciary organization shall maintain on deposit sufficient funds to cover the matching deposit agreements for all individual development accounts managed by the organization. (3) The maximum total amount of state-directed moneys that may be accrued as matching funds in an …
ORS 458.695 Selection of fiduciary organizations. The Housing and Community Services Department may select fiduciary organizations to administer moneys directed by the state to individual development account purposes. In making the selections, the department shall consider factors including, but not limited to
0.9K chars
(1) The ability of the fiduciary organization to implement and administer the individual development account program, including the ability to verify account holder eligibility, certify that matching deposits are used only for approved purposes and exercise general fiscal account…
ORS 458.700 Authority of fiduciary organizations; rules. (1) Subject to Housing and Community Services Department rules, a fiduciary organization has sole authority over, and responsibility for, the administration of individual development accounts. The responsibility of the fiduciary organization extends to all aspects of the account program, including marketing to participants, soliciting additional matching contributions, counseling account holders, providing financial literacy education, and conducting required verification and compliances activities. The fiduciary organization may establish program provisions as the organization believes necessary to ensure account holder compliance with the provisions of ORS 458.680 and 458.685. A fiduciary organization may establish income and net worth limitations for account holders that are lower than the income and net worth limitations established by ORS 458.670 (5) and 458.680 (2)
1.6K chars
(2) A fiduciary organization may act in partnership with other entities, including businesses, government agencies, nonprofit organizations, community development corporations, community action programs, housing authorities and congregations to assist in the fulfillment of fiduci…
ORS 458.705 Legislative findings. The Legislative Assembly finds that
2.5K chars
(1) The population of the state is growing and is expected to continue growing well into the 21st century. That population growth is uneven, resulting in some places struggling to manage new people, jobs and building, and other places being eager to attract a share of growth and …
ORS 458.710 [1999 c.956 §6; repealed by 2015 c.180 §34]
0.0K chars
[Repealed or reserved.]
ORS 458.715 Duties of Oregon Housing Stability Council regarding Community Development Incentive Project Fund. (1) The Oregon Housing Stability Council shall, with respect to the Community Development Incentive Project Fund established under ORS 458.720
0.7K chars
(a) Develop program guidelines, including specific project criteria and financing mechanisms. (b) Review applications seeking funding from the fund and make recommendations for funding approval. (c) Review proposals for cooperative agreements or joint projects between the council…
ORS 458.720 Community Development Incentive Project Fund; purpose; lottery bond proceeds. (1) Pursuant to ORS 286A.560 to 286A.585, lottery bonds may be issued to make grants or loans to Oregon municipalities, businesses and individuals to encourage real estate developments that promote downtown and community center areas, provide affordable housing and other infill developments, and fund projects that promote business opportunities in Oregon’s distressed areas and rural communities
1.8K chars
(2) The use of lottery bond proceeds is authorized based on the following findings: (a) The grants and loans made will be used to fund projects that assist Oregon communities in managing growth, thereby attracting industry and workers and improving Oregon’s labor market; and (b) …
ORS 458.725 Fund appropriation and expenditure guidelines. All moneys deposited in the Community Development Incentive Project Fund are continuously appropriated to the Housing and Community Services Department to carry out the purposes of the fund. In addition to any other purpose specifically provided by law, moneys deposited in the fund shall be expended for community development purposes, including but not limited to
0.2K chars
(1) Promoting affordable housing development near jobs and transportation; (2) Revitalizing downtowns and community centers; and (3) Rebuilding rural and distressed economies. [1999 c.956 §4] Note: See note under 458.705.
ORS 458.730 Department use of financing mechanisms; determination of funding adequacy. (1) The Housing and Community Services Department may use the moneys in the Community Development Incentive Project Fund in any manner permitted under ORS 458.735. However, the primary purpose of the fund is to finance developments identified by the Oregon Housing Stability Council if other state or private financing sources are inadequate or unavailable. The department shall make the final determination as to whether financing sources are inadequate or unavailable
1.1K chars
(2) In expending moneys from the fund, the department may use financing mechanisms that include, but are not limited to: (a) Grants or loans for the development of multifamily or single-family affordable housing located near community centers or employment centers. (b) Grants or …
ORS 458.735 Department review of projects; lending criteria. The Housing and Community Services Department shall
1.1K chars
(1) Administer the Community Development Incentive Project Fund in accordance with rules adopted by the department. (2) Verify documentation and approve or disapprove funding recommended by the Oregon Housing Stability Council under ORS 458.715. (3) Seek to leverage local, federa…
ORS 458.740 Project facilitation. In addition to any other power or authority granted to the Housing and Community Services Department, the department may
0.8K chars
(1) Acquire property and hold, conserve, improve, lease, sell or otherwise use or exercise control over the property for the purpose of facilitating the use of the property as part of a community development project. (2) Enter into cooperative agreements or joint projects with ot…