HB 3031 - NYU Furman Center

State Land Use Enacted Legislation

Bill #	State	Year	Party	Topic
HB 3031	OR	2025	D	Affordable housing incentives and financing, Density Increases, Fair distribution of housing, Funding, Publicly-owned, Technical assistance

Provided by Furman

Summary

Provides for the creation of a Housing Infrastructure Financing Program administered by the Oregon Infrastructure Finance Authority.
- The program allows for the authorization of grants/loans to cities, counties, tribal councils and other local entities for infrastructure projects that support housing developments, transportation, and improvement of water, wastewater, and stormwater infrastructure.
To receive the funds, the developments must be within specified urban growth boundaries that meet certain density requirements.
Specifies that to be eligible for a grant of forgivable loan under the bill, the housing project must be subject to an affordable housing covenant and made available to very low income, low income, or moderate income households.
Allows applicants to the program to partner with a housing authority or developer.
Requires that the Oregon Infrastructure Finance Authority use:
- At least 25% of the funds to support cities or Indian tribes with population of less than 30,000, and
- At least 25% of the funds to support cities or Indian tribes with populations between 30,000 and 100,000.
Allows the Oregon Business Development Department to adopt rules to implement the goals of the bill.
Specifies that the project fund is established in Oregon’s treasury and can accept grants, donations, or other contributions from any source. Additionally, interest earned by the fund must be credited to the fund.