Relating to property tax exemption for nonprofit corporation low income housing; and prescribing an effective date.
Summary
HB 2077 extends the sunset date for Oregon’s property tax exemption for certain nonprofit corporation low-income housing. Specifically, it amends a 1985 law governing ORS 307.540 to 307.548 so that the exemption applies to tax years beginning on or after January 1, 1985, and before July 1, 2033, instead of ending July 1, 2027. The bill does not create a new exemption; it continues an existing one for qualifying nonprofit low-income housing property.
The practical effect is to preserve property tax relief for eligible nonprofit housing providers for an additional six years. By extending the exemption, the bill helps maintain the current tax treatment of qualifying affordable housing projects and may reduce operating costs for nonprofits that own and manage low-income housing. The act takes effect 91 days after the 2025 legislative session adjourns sine die.
Impact
HB 2077 amends Oregon law governing the property tax exemption for nonprofit low-income housing by extending the statutory expiration date in section 6, chapter 660, Oregon Laws 1985, as amended. The bill keeps ORS 307.540 to 307.548 in effect through July 1, 2033, thereby continuing eligibility for the exemption for qualifying nonprofit housing property and preserving the existing tax framework for local property tax assessments.
Sentiment
The bill appears to have broad bipartisan support and little visible opposition. It passed the House committee unanimously, cleared House third reading 56-0, passed the Senate committee unanimously, and passed Senate third reading 26-0. The vote history suggests general agreement that extending the exemption supports affordable housing providers without controversy.
Contention
No committee transcript was provided, and the recorded votes show no opposition at any stage, so there is no documented substantive contention in the available materials. Any potential policy debate would likely center on the fiscal impact of extending a property tax exemption versus the benefit of supporting nonprofit affordable housing, but no specific objections or amendments are reflected in the record provided.