HB 4036
Plain-language analysis
Generated analysis, not an official summary or legal advice. Confirm with linked Oregon documents.
Establishes the Housing Opportunity, Longevity and Durability Fund to receive $100 million in state bond proceeds for preserving affordable housing at risk of loss due to expiring restrictions, financial distress, or physical deterioration. It continuously appropriates these funds to the Housing and Community Services Department, mandates a legislative report on administrative barriers by December 2026, and increases departmental administration costs by $295,175 for the current biennium while adding approximately $20.4 million in General Fund debt service for the next biennium.
Basis: Bill text · Sources: Enrolled; Fiscal Impact Statement A; Budget Report B
Preserving existing affordable housing is a key component of Oregon’s housing strategy because aging properties face physical deterioration, financial stress, or expiring affordability restrictions; without timely reinvestment, these properties risk conversion to market-rate housing or disrepair, reducing supply and destabilizing low-income residents.
Basis: Official analysis · Source: Staff Measure Summary A
Inferred from cited text; not a stated purpose.
The explicit statutory expansion of physical distress to include building systems exceeding their effective useful lives, combined with a continuous appropriation mechanism, suggests a legislative hypothesis that deferred maintenance backlogs in publicly supported housing are triggering premature loss of affordability or safety hazards. By front-loading preservation capital and mandating operating expense analysis, the measure aims to shift departmental operations from reactive crisis management to proactive asset lifecycle management.
Basis: Inferred · Source: Enrolled
Assumes new administrative duties to manage the HOLD Fund, issue bond-related contracts, apply updated evaluation criteria, and produce a comprehensive legislative report by December 2026.
Basis: Bill text · Sources: Enrolled; Fiscal Impact Statement A
Gain access to state preservation funding for properties at risk of loss, but must comply with new state-defined distress categories and evaluation criteria; may benefit from mandated reporting streamlining.
Basis: Bill text · Sources: Enrolled; Budget Report B
Potentially stabilized housing through rehabilitation and extended affordability covenants, though eligibility depends on departmental prioritization of state-owned or operated assets.
Basis: Bill text · Source: Enrolled
Bear approximately $20.4 million in biennial debt service costs starting in 2027-29, offset by dedicated bond proceeds and limited administrative fees.
Basis: Official analysis · Sources: Fiscal Impact Statement A; Budget Report B
The department must operationalize a new continuously appropriated fund, finalize bond covenants, and update underwriting standards to reflect the revised physical distress definition. Providers will need to align applications with the new evaluation criteria while anticipating reduced reporting burdens if the December 2026 report leads to regulatory changes. Tenants may experience improved property conditions and extended lease stability, but access depends on departmental capacity to process transactions efficiently. The measure shifts fiscal responsibility for debt service to the General Fund in the subsequent biennium, requiring long-term budget planning.
Basis: Bill text · Sources: Enrolled; Fiscal Impact Statement A
Low-income tenants and residents of at-risk properties
A regional economic downturn triggers simultaneous expiration of federal rent assistance contracts across multiple aging publicly supported complexes; the HOLD Fund rapidly deploys capital to stabilize operations and fund critical infrastructure repairs, preventing mass displacement and preserving thousands of units for low-income households.
Basis: Inferred · Sources: Enrolled; Staff Measure Summary A
State Treasury and General Fund taxpayers
The department's evaluation criteria inadvertently prioritize properties with higher market-value collateral or urban locations, leaving rural manufactured dwelling parks and deeply distressed financial assets without capital; delayed bond issuance exacerbates interest rate costs, straining the General Fund while vulnerable tenants face accelerated displacement.
Basis: Inferred · Sources: Enrolled; Fiscal Impact Statement A
bill_text
Sources · Enrolled
Front-loading $100 million in general obligation debt and ongoing General Fund debt service secures long-term affordable housing stock against deterioration and financial distress, but concentrates fiscal risk on future taxpayers while potentially diverting administrative capacity from new construction or other housing priorities.
Prevents loss of existing affordable units through targeted preservation capital and extended affordability covenants.
Basis: Official analysis · Source: Staff Measure Summary A
Mandates a comprehensive legislative report that could streamline reporting requirements and reduce administrative costs for providers.
Basis: Bill text · Source: Enrolled
Increases General Fund debt service obligations by approximately $20.4 million in the next biennium.
Basis: Official analysis · Source: Fiscal Impact Statement A
Eligibility is restricted to state-owned or operated assets, potentially excluding private nonprofit providers and manufactured dwelling parks from direct fund access.
Basis: Bill text · Source: Enrolled
The enrolled version adopts the Joint Committee on Ways and Means amendments, finalizing the fiscal structure by explicitly appropriating $150,000 in General Fund and increasing the Other Funds expenditure limitation by $145,175 for administration. It clarifies section numbering, formally establishes the HOLD Fund's continuous appropriation mechanism, and refines the definition of physical distress to explicitly include building systems exceeding their effective useful lives. The substantive policy framework remains consistent with the A-Engrossed version, with changes focused on fiscal alignment, administrative clarity, and statutory precision.
Adopts Ways & Means fiscal adjustments, locking in $295,175 in administrative appropriations and clarifying continuous appropriation authority.
Ensures program startup costs are fully funded while preventing future expenditure limitation shortfalls.
Sources · Enrolled; Budget Report B
Refines physical distress definition to include building systems, components, or materials exceeding effective useful lives.
Expands eligibility for preservation capital to address deferred maintenance backlogs before they trigger loss of affordability or safety hazards.
Sources · Enrolled
Tradeoff: Front-loading $100 million in general obligation debt and ongoing General Fund debt service secures long-term affordable housing stock against deterioration and financial distress, but concentrates fiscal risk on future taxpayers while potentially diverting administrative capacity from new construction or other housing priorities.
high confidence. Analysis is grounded in enrolled bill text, official fiscal impact statements, and committee summaries. Inferences are explicitly labeled and bounded by statutory language.
Possible effects if adopted; not current bill text.
The amendment appropriates $150,000 in General Fund and increases the expenditure limitation by $145,175 to cover startup costs and fund a half-time program analyst position for administering the new HOLD Fund. This enables the Housing and Community Services Department to legally retain application fees and spend state funds for initial legal review, bond covenant drafting, and program rule development without depleting existing multifamily rental housing budgets, directly facilitating the launch of a $100 million affordable housing preservation initiative.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Budget Report B
The amendment provides a one-time General Fund appropriation to support costs related to standing up the new program, including legal review for contract language, bond covenants, and program rules necessary to utilize Article XI-Q bonds. It also funds a dedicated Program Analyst 3 position to manage housing preservation transactions financed with those bond proceeds.
Basis: Official analysis · Source: Budget Report B
Inferred from cited text; not a stated purpose.
Lawmakers likely anticipate that existing multifamily rental housing program budgets lack sufficient flexibility or dedicated capacity to handle the complex legal, covenant, and transaction management requirements of a new $100 million bond-funded preservation initiative. By isolating administrative funding from project grants, the amendment aims to prevent program delays while ensuring compliance with federal HUD fund requirements.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Budget Report B
Gains dedicated startup funding and fee retention authority to hire staff and cover legal/admin costs for the HOLD Fund, shifting administrative burden from existing program budgets.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Budget Report B
Will gain access to a new $100 million preservation fund, but initial program launch and application processing depend entirely on HCSD's newly funded administrative capacity.
Basis: Inferred · Sources: Fiscal Impact Statement A; Budget Report B
Bear the long-term debt service cost (~$20.4 million biennium starting 2027-29) for the underlying bond authorization, while this amendment covers only the ~$295,000 initial administrative setup.
Basis: Inferred · Source: Fiscal Impact Statement A
HCSD must establish and manage a new fee structure to support the $145,175 expenditure limitation, requiring clear billing protocols for applicants.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Budget Report B
The amendment does not alter eligibility criteria for the underlying bond fund; it only funds the administrative engine that will process applications and disburse preservation capital.
Basis: Inferred · Source: Amendment -A4 — proposed amendment
Program launch speed depends on HCSD's ability to quickly draft bond covenants and program rules. Delays in deploying these administrative funds could stall the $100 million deployment.
Basis: Inferred · Source: Budget Report B
Affordable housing providers and low-income tenants
HCSD rapidly deploys the full $100 million to save hundreds of critically distressed multifamily properties from conversion to market-rate or foreclosure, stabilizing thousands of low-income households before affordability covenants expire.
Basis: Inferred · Source: Fiscal Impact Statement A
Affordable housing providers and HCSD
Administrative costs balloon due to complex federal HUD compliance requirements, forcing HCSD to divert fees or seek additional appropriations. The $145,175 limitation proves insufficient to cover legal and transaction management overhead, delaying fund deployment past critical covenant expiration dates.
Basis: Inferred · Source: Budget Report B
The text legally permits fee collection for administration but does not cap fee amounts or define allowable cost allocations, creating room for duty creep or discriminatory pricing if oversight is weak.
Sources · Amendment -A4 — proposed amendment
The measure trades a modest, one-time General Fund expenditure and dedicated fee-collection authority for HCSD to ensure rapid administrative readiness against the risk that underfunded startup costs could delay or derail the deployment of $100 million in preservation capital. Upsides include preventing program launch delays, ensuring legal compliance with bond covenants, and creating a dedicated transaction management role. Downsides include locking in ongoing fee-reliance for staffing, adding administrative overhead to an already constrained housing budget, and failing to guarantee that the funded administration will successfully match supply with demand.
Prevents program launch delays by isolating startup costs from project grant budgets.
Basis: Inferred · Source: Budget Report B
Ensures legal compliance with complex Article XI-Q bond covenants and federal HUD requirements through dedicated staff.
Basis: Inferred · Source: Budget Report B
Locks in ongoing fee-reliance for staffing, which may reduce net program capital available for actual housing preservation.
Basis: Inferred · Source: Budget Report B
Adds administrative overhead to an already constrained housing budget without guaranteeing that the funded administration will successfully match supply with demand.
Basis: Inferred · Source: Fiscal Impact Statement A
high confidence. The amendment text explicitly states funding amounts and purposes. Official committee budget reports and fiscal impact statements corroborate the administrative focus and bond authorization context. No enacted status or prior version comparison is available.
The amendment would appropriate $150,000 from the General Fund and increase an Other Funds expenditure limitation by $145,175 to cover administrative costs for a new Housing Opportunity, Longevity and Durability (HOLD) Fund. If adopted, it would enable the Housing and Community Services Department to hire staff and manage legal and contractual work to administer $100 million in state bonds dedicated to preserving affordable multifamily housing at risk of loss or deterioration.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Fiscal Impact Statement A; Budget Report B
Official sources do not state why this measure was proposed.
Sponsor testimony, staff summaries, committee materials, or statutory findings may explain it.
Inferred from cited text; not a stated purpose.
The amendment likely addresses a budgetary gap identified during committee review, ensuring dedicated administrative capacity to manage bond proceeds and program rules before funds are deployed.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Budget Report B
Receives dedicated funding and increased expenditure authority to hire a Program Analyst 3 and cover startup and legal costs for the new fund.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Fiscal Impact Statement A
Gain access to a newly funded administrative pipeline that will process applications for preservation grants or loans using $100 million in state bonds.
Basis: Inferred · Sources: House Amendments to Introduced; Staff Measure Summary A
Bear a one-time $150,000 cost for program startup and legal review.
Basis: Inferred · Sources: Amendment -A4 — proposed amendment; Budget Report B
Will be charged program fees to sustain the ongoing administrative position, potentially affecting net funding availability or application costs.
Basis: Inferred · Sources: Fiscal Impact Statement A; Budget Report B
HCSD must establish contract language, bond covenants, and program rules to deploy Article XI-Q bonds for housing preservation.
Basis: Inferred · Source: Budget Report B
Administrative costs are covered by fees charged to recipients rather than recurring General Fund appropriations, shifting ongoing operational funding to program users.
Basis: Inferred · Sources: Fiscal Impact Statement A; Budget Report B
Eligibility targets affordable housing at risk from expiring restrictions, financial distress, or physical deterioration, with Oregon statutes defining physical distress to include building systems exceeding useful lives.
Basis: Inferred · Source: House Amendments to Introduced
Access depends on HCSD's rulemaking and application processing capacity, which may experience initial delays while administrative infrastructure is built.
Basis: Inferred · Source: Fiscal Impact Statement A
Low-income tenants and aging multifamily portfolios
A large portfolio of properties with expiring federal subsidies successfully secures HOLD Fund intervention, preventing mass displacement and averting costly emergency rehabilitation later.
Basis: Inferred · Sources: Fiscal Impact Statement A; Staff Measure Summary A
At-risk affordable housing providers
Administrative bottlenecks or overly restrictive fee structures delay fund deployment until critical physical deterioration occurs, resulting in irreversible loss of affordable units despite the $100 million authorization.
Basis: Inferred · Sources: Fiscal Impact Statement A; Budget Report B
The text legally permits HCSD to charge fees to applicants and use bond proceeds for preservation administration. A potential unlawful outcome could arise if weak oversight allows misclassification of financial distress or physical distress, enabling ineligible properties to access funds, or if fee structures are applied retroactively or discriminatorily without statutory authority. Duty creep could occur if administrative costs are shifted to general operations rather than strictly tied to HOLD Fund transactions.
Sources · Amendment -A4 — proposed amendment; House Amendments to Introduced
The measure trades a modest one-time General Fund expenditure and ongoing applicant fees for the capacity to deploy $100 million in state bonds toward preserving affordable housing, balancing immediate fiscal cost against long-term preservation benefits.
Establishes dedicated administrative infrastructure to rapidly deploy preservation funds.
Basis: Inferred · Source: Fiscal Impact Statement A
Clarifies physical distress criteria to include building systems exceeding useful lives, aligning with Oregon statutory definitions rather than federal benchmarks.
Basis: Inferred · Source: House Amendments to Introduced
Uses program fees to offset ongoing costs rather than requiring recurring General Fund appropriations.
Basis: Inferred · Source: Budget Report B
Delays fund deployment until administrative capacity is built and rules are finalized.
Basis: Inferred · Source: Fiscal Impact Statement A
Applicant fees may reduce net preservation capital or create barriers for smaller providers.
Basis: Inferred · Source: Budget Report B
Relies on future bond issuance and rulemaking that could face market or regulatory delays.
Basis: Inferred · Source: Fiscal Impact Statement A
high confidence. The amendment text, fiscal impact statements, and committee budget reports provide explicit appropriation amounts, expenditure limitation increases, and administrative requirements. Inferences are strictly bounded by the supplied documents.
If adopted, the amendment establishes the Housing Opportunity, Longevity and Durability Fund in the State Treasury, appropriates $100 million from general obligation bonds to it, and continuously appropriates those proceeds to the Housing and Community Services Department for acquiring, repairing, or rehabilitating state-owned affordable housing at risk of loss. It expands the definition of eligible physical distress to explicitly include building systems exceeding their useful lives, mandates a December 2026 report on regulatory barriers and reporting burdens, and increases the total authorized bond amount by $100 million. Material consequences include dedicated preservation funding, increased state debt service obligations, broader eligibility for aging properties, and a mandated administrative review of housing regulations.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A
Official sources do not state why this measure was proposed.
Sponsor testimony, staff summaries, committee materials, or statutory findings may explain it.
Inferred from cited text; not a stated purpose.
The amendment likely addresses administrative and eligibility gaps in the introduced bill by renaming the fund for clarity, broadening the distress criteria to cover aging infrastructure that triggers preservation needs, and expanding the legislative report to include operational barriers like tenant screening and waitlists.
Basis: Inferred · Source: Amendment -2 — proposed amendment
Gains authority to continuously appropriate bond proceeds for preservation, must administer a new $100 million fund, and must produce a comprehensive regulatory report by December 2026.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A
Eligibility expands to include properties with aging building systems; may face new program fees to fund HCSD administration; subject to potential regulatory reforms identified in the mandated report.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Budget Report B
Authorizes $100 million in additional general obligation bonds, increasing debt service obligations and overall bond capacity usage.
Basis: Inferred · Source: Fiscal Impact Statement A
Potential benefit from preserved affordable units and reduced administrative barriers; potential risk if preservation costs are passed through or if regulatory changes delay funding deployment.
Basis: Inferred · Source: Staff Measure Summary A
HCSD must establish fund accounting, process applications for state-owned property preservation, and draft a detailed report on housing regulations by December 1, 2026. Providers must comply with new eligibility criteria and potentially pay program fees. The continuous appropriation streamlines fund access but requires HCSD to manage underwriting and compliance. Long-term debt service will begin in the 2027-29 biennium.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A; Budget Report B
Aging publicly supported housing portfolios
A large portfolio of aging publicly supported housing with failing HVAC and plumbing systems (exceeding useful lives) qualifies for immediate HOLD Fund grants, preventing mass displacement of low-income tenants and avoiding costly emergency repairs or market-rate conversion.
Basis: Inferred · Source: Amendment -2 — proposed amendment
HCSD and eligible property owners
HCSD faces a surge in applications from properties claiming aging systems as distress, overwhelming the new 0.5 FTE position, delaying fund deployment, and causing eligible properties to deteriorate further while waiting for underwriting and bond issuance timelines.
Basis: Inferred · Sources: Fiscal Impact Statement A; Budget Report B
The amendment authorizes fund use for housing owned or operated by the State of Oregon [CommitteeProposedAmendments:30007]. If HCSD lacks rigorous verification protocols, private entities could exploit the operational definition to claim state oversight, legally accessing preservation funds while effectively subsidizing private development.
Sources · Amendment -2 — proposed amendment
The measure secures dedicated funding and clarifies eligibility for preserving aging affordable housing at the cost of increased state debt service, administrative overhead, and potential delays if HCSD lacks capacity to manage the new fund and regulatory review process.
Dedicated $100 million preservation fund prevents loss of existing affordable units; expanded distress definition captures aging infrastructure before catastrophic failure; continuous appropriation accelerates deployment compared to annual line-item budgeting.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A
Increases state debt service by approximately $20.4 million biennially starting in 2027-29; creates administrative bottlenecks if HCSD cannot scale underwriting capacity; program fees may reduce net funding available for actual property rehabilitation.
Basis: Inferred · Sources: Fiscal Impact Statement A; Budget Report B
high confidence. The amendment text, fiscal impact statements, and committee budget reports provide explicit statutory language, appropriation amounts, and administrative requirements. Inferences are strictly bounded by the provided text and official analysis.
The amendment creates a dedicated $100 million bond-funded trust (the HOLD Fund) administered by the Housing and Community Services Department to acquire, repair, or preserve state-owned affordable housing at risk of loss. It expands the department’s mandate to evaluate and recommend changes to state laws and reporting rules that hinder affordable housing operations, clarifies that aging building systems constitute physical distress, and increases the state’s total general obligation bond authorization by $100 million. If adopted, it would direct new debt proceeds toward existing affordable housing preservation while imposing a statutory reporting deadline on the department to identify regulatory barriers.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A
Official sources do not state why this measure was proposed.
Sponsor testimony, staff summaries, committee materials, or statutory findings may explain it.
Inferred from cited text; not a stated purpose.
Lawmakers may intend to reduce administrative friction and accelerate preservation funding for properties facing deferred maintenance or expiring affordability covenants by expanding the department’s reporting mandate to include operational efficiency and explicitly defining aging infrastructure as physical distress.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Staff Measure Summary A
Gains authority to administer a continuously appropriated bond fund, must manage preservation transactions, and must produce a statutory report by December 1, 2026 evaluating regulatory barriers and reporting requirements.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A
May gain access to state bond proceeds for acquiring or rehabilitating properties at risk of loss, particularly those with aging infrastructure or expiring affordability restrictions. Must comply with new HCSD application processes and potential program fees.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Budget Report B
Potentially benefit from stabilized housing stock and reduced risk of displacement due to property deterioration or loss of affordability covenants. May experience temporary disruption during rehabilitation projects.
Basis: Inferred · Source: Staff Measure Summary A
Bear the cost of $100 million in new general obligation bonds plus approximately $189.4 million in debt service over the bond life, funded through General Fund allocations.
Basis: Inferred · Source: Fiscal Impact Statement A
HCSD must establish application criteria, manage transactions, and submit a comprehensive regulatory review report by December 1, 2026. Providers must navigate new funding eligibility rules and potential program fees.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Budget Report B
Funding targets state-owned or operated affordable housing at risk of loss due to financial distress, expiring restrictions, or physical deterioration. Access depends on HCSD’s underwriting standards and evaluation criteria.
Basis: Inferred · Source: Amendment -2 — proposed amendment
Continuous appropriation reduces annual budget uncertainty but locks in spending authority. Debt service obligations are mandatory regardless of project outcomes.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A
Tenants and housing providers
A portfolio of 500 units with expiring federal rental assistance and severely degraded HVAC/electrical systems qualifies for HOLD Fund grants or loans, preventing market-rate conversion, stabilizing rents for low-income tenants, and avoiding multi-million-dollar emergency repairs through proactive state intervention.
Basis: Inferred · Sources: Amendment -2 — proposed amendment; Staff Measure Summary A
Tenants and housing providers
HCSD prioritizes projects with high leverage ratios over those with greatest tenant need, diverting funds to marginally distressed properties while critically failing buildings lose eligibility due to strict underwriting thresholds, accelerating displacement of vulnerable populations.
Basis: Inferred · Source: Amendment -2 — proposed amendment
The distinction rests on whether HCSD applies the revised physical distress definition and financial distress criteria consistently, versus allowing discretionary underwriting to bypass statutory eligibility requirements.
Sources · Amendment -2 — proposed amendment; Budget Report B
The measure trades increased long-term state debt service obligations for immediate capital access to preserve existing affordable housing stock and reduce regulatory barriers, balancing fiscal liability against housing stability goals.
Accelerated preservation of at-risk units through dedicated bond funding.
Basis: Inferred · Source: Staff Measure Summary A
Streamlined reporting and reduced administrative friction for providers via statutory evaluation mandate.
Basis: Inferred · Source: Amendment -2 — proposed amendment
Mandatory General Fund debt service regardless of project outcomes or market conditions.
Basis: Inferred · Source: Fiscal Impact Statement A
Potential underwriting bottlenecks and administrative overhead costs that could delay disbursements.
Basis: Inferred · Source: Budget Report B
high confidence. Analysis is grounded in the proposed amendment text, legislative fiscal and revenue impact statements, and committee staff summaries. No enacted provisions or external litigation are referenced.
Establishes a dedicated $100 million state bond-funded trust (the Housing Opportunity, Longevity and Durability Fund) to preserve affordable housing at risk of loss due to expiring restrictions, financial strain, or aging infrastructure. It continuously appropriates these funds to the Housing and Community Services Department for acquisition, rehabilitation, and administration, while mandating a December 2026 legislative report on streamlining state regulations and reporting burdens for affordable housing providers.
Basis: Official analysis · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A; Budget Report B
Preserving existing affordable housing is a key component of Oregon’s housing strategy because, as affordable housing properties age, they may face physical deterioration, financial stress, or the expiration of affordability restrictions tied to federal or state programs. Without timely reinvestment, these properties are at risk of being converted to market-rate housing or falling into disrepair, thereby reducing the supply of affordable units and destabilizing housing for low-income residents.
Basis: Official analysis · Source: Staff Measure Summary A
Inferred from cited text; not a stated purpose.
The amendment expands the legislative report requirement from evaluating general legal barriers to specifically assessing state laws, departmental policies, and rules that negatively impact the efficiency, effectiveness, and cost of operating affordable housing, including operational tasks like leasing, screening, and inspections. This suggests a legislative intent to identify and remove administrative or regulatory friction points that hinder property owners from maintaining affordability compliance.
Basis: Inferred · Source: Amendment -2 — proposed amendment
Gain access to $100 million in state bond proceeds for rehabilitation and preservation but must comply with new program application processes, potential fees, and updated underwriting standards.
Basis: Official analysis · Sources: Amendment -2 — proposed amendment; Budget Report B
Benefit from stabilized housing stock and reduced risk of displacement due to property deterioration or loss of affordability covenants, though delays in fund deployment could prolong exposure to unsafe conditions.
Basis: Official analysis · Source: Staff Measure Summary A
Gains authority and a dedicated funding stream to manage preservation projects but assumes ongoing administrative, legal, and underwriting responsibilities plus a mandated legislative report.
Basis: Official analysis · Sources: Amendment -2 — proposed amendment; Fiscal Impact Statement A
Incurs $100 million in bond debt with approximately $189.4 million in total debt service over the bond life, offset by dedicated Other Funds expenditure limits and startup appropriations.
Basis: Official analysis · Source: Fiscal Impact Statement A
HCSD must develop application processes, legal covenants, and underwriting standards for the HOLD Fund. Providers will need to navigate new state reporting evaluations and potentially pay program fees.
Basis: Official analysis · Sources: Amendment -2 — proposed amendment; Budget Report B
HCSD is legally required to submit a comprehensive report by December 1, 2026, evaluating state laws and departmental rules that negatively affect affordable housing operations and identifying opportunities to streamline or eliminate reporting requirements.
Basis: Official analysis · Source: Amendment -2 — proposed amendment
$100 million principal plus approximately $189.4 million in debt service funded via General Fund. Startup costs are covered by $150,000 General Fund and $145,175 Other Funds, with ongoing position costs offset by program fees charged to applicants.
Basis: Official analysis · Sources: Fiscal Impact Statement A; Budget Report B
Targets affordable housing at risk of loss due to expiring restrictions, financial distress, or physical deterioration (explicitly including aging building systems). Manufactured housing parks are explicitly eligible.
Basis: Official analysis · Source: Amendment -2 — proposed amendment
Continuous appropriation ensures a dedicated funding stream, but effectiveness depends on HCSD's capacity to deploy funds quickly and the success of the mandated regulatory streamlining report in reducing administrative burdens.
Basis: Official analysis · Source: Amendment -2 — proposed amendment
Low-income tenants and housing providers
A portfolio of 50 aging multifamily properties facing simultaneous expiration of federal rental assistance and critical roof/HVAC failures secures HOLD Fund grants, preventing mass displacement of 2,000 low-income households and avoiding $50 million in emergency municipal code violations.
Basis: Inferred · Source: Amendment -2 — proposed amendment
State of Oregon and housing providers
HCSD's new program analyst position is overwhelmed by complex underwriting requirements for aging properties with tangled federal covenants, causing a 18-month delay in fund deployment while properties deteriorate further, leading to irreversible structural loss and higher long-term rehabilitation costs exceeding the original $100 million authorization.
Basis: Inferred · Source: Fiscal Impact Statement A
The text legally permits HCSD to use bond proceeds for acquiring, constructing, remodeling, or repairing affordable housing at risk of loss. A potential unlawful outcome could arise if HCSD misclassifies market-rate or luxury developments as 'at risk' to access the fund, or if administrative fees charged to applicants are structured in a way that effectively functions as an unauthorized tax on low-income providers, exploiting weak oversight of fee structures and underwriting criteria.
Sources · Amendment -2 — proposed amendment
The measure trades long-term General Fund debt service for immediate preservation of existing affordable housing stock and regulatory streamlining, balancing urgent physical/financial stabilization needs against fiscal liability and administrative complexity. Upsides include preventing the loss of critical affordable units, modernizing aging infrastructure, and reducing provider reporting burdens. Downsides include increasing state debt, creating new administrative overhead, and tying preservation efforts to a single department's capacity without guaranteed ongoing operational funding beyond startup.
Prevents loss of critical affordable units through targeted rehabilitation and covenant preservation.
Basis: Official analysis · Source: Staff Measure Summary A
Reduces provider reporting burdens by mandating a legislative review of state laws and departmental rules affecting operational efficiency.
Basis: Official analysis · Source: Amendment -2 — proposed amendment
Increases state debt by $100 million with approximately $189.4 million in total debt service over the bond life.
Basis: Official analysis · Source: Fiscal Impact Statement A
Creates new administrative overhead and ties preservation efforts to a single department's capacity without guaranteed ongoing operational funding beyond startup.
Basis: Official analysis · Source: Fiscal Impact Statement A
high confidence. Analysis is grounded in official committee amendments, fiscal impact statements, and staff summaries directly addressing the proposed measure.
46 records currently loaded
Records available in the current snapshot.
Earliest loaded signal
Introduced bill text posted
Posted Jan 28, 2026, 3:25 PM PST
Follow the official text for HB 4036 and every amendment branch. Connections come from each amendment's stated base. Horizontal position shows when each document was first posted, when available.
Click a card to isolate its connected lines; use View summary to jump to its details. Horizontal position shows first posting time in Pacific Time. Drag or use the arrow keys to pan. Pinch with two fingers on mobile, or zoom with the controls, +/− keys, or Control/Command + scroll; press 0 to reset. Dashed branches remained proposals.
Selected document summary
Targeted changes
What the document says to change
On page 1 of the printed bill, delete lines 7 through 27.
Oregon records no individual sponsors.
Presession filing record
Introduced and printed pursuant to House Rule 12.00. Presession filed.
LC 209 draft
Date printed on LC draft: January 5, 2026
LC 209 became HB 4036
Mapping document posted: January 13, 2026 at 1:45 AM PST
LC0209_DRAFT_2026_Regular_Session
House Interim Committee on Housing and Homelessness introduction work session
Committee meeting: January 14, 2026 at 2:30 PM PST
HR 30
Committee introduction motion
Committee meeting: January 14, 2026 at 2:30 PM PST
A motion was made to adopt the listed legislative concepts as committee bills.
Official vote: 12-0-1
Committee introduction allows consideration; it does not imply every member supported the introduced or final text.
House carrier
Representative Pam Marsh
Third Reading Of House Bills · Version B
Senate carrier
Senator Khanh Pham
Third Reading Of House Measures · Version B
A carrier presents the measure or report but is not necessarily its sponsor or author.
Records already listed in Activity are not repeated here.
46 events
Full timeline
46 entries shown.
Chapter 107, (2026 Laws): Effective date April 7, 2026.
Governor signed.
President signed.
Speaker signed.
Third reading. Carried by Pham. Passed.
Ayes, 22; Nays, 7--Drazan, Girod, Linthicum, Robinson, Starr, Thatcher, Weber; Excused, 1--Hayden.
Second reading.
Recommendation: Do pass the B-Eng. bill.
Budget Report · Version B
Referred to Ways and Means.
First reading. Referred to President's desk.
Third reading. Carried by Marsh. Passed.
Ayes, 44; Nays, 12--Boshart Davis, Cate, Elmer, Harbick, Helfrich, Lewis, Osborne, Reschke, Scharf, Skarlatos, Wallan, Yunker; Excused, 3--Hartman, Levy B, Valderrama; Excused for Business of the House, 1--McIntire.
Second reading.
House Amendments to A-Engrossed bill text posted
Recommendation: Do pass with amendments and be printed B-Engrossed.
Revenue Impact Statement · Version B
Budget Report · Version B
Work Session held.
Amendment -A4 adopted
Adopted
Work Session
Heard and Reported Out with Amendments · Agenda item 3 · Room HR 40 · Relating to affordable housing (Representative Nosse, carrier)
Returned to Full Committee.
Work Session held.
Work Session
Heard and Reported Out · Agenda item 3 · Room HR F · Relating to affordable housing
Amendment -A4 proposed
Assigned to Subcommittee On Capital Construction.
House Amendments to Introduced bill text posted
Referred to Ways and Means by prior reference.
Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Ways and Means by prior reference.
Work Session held.
Work Session
Heard and Reported Out with Amendments · Agenda item 5 · Room HR 40 · Establishes the Preserve Affordable Homes for Oregon Fund to deposit Article XI-Q bonds to be used to preserve affordable housing at risk of loss.
IS_Impact HB 4036 2
Revenue Impact Statement
Amendment -2 adopted
Possible Work Session
Not Heard · Agenda item 4 · Room HR 40 · Establishes the Preserve Affordable Homes for Oregon Fund to deposit Article XI-Q bonds to be used to preserve affordable housing at risk of loss.
IS_Impact HB 4036 2
Revenue Impact Statement
Amendment -2 proposed
Public Hearing held.
Public Hearing
Heard · Agenda item 3 · Room HR 40 · Establishes the Preserve Affordable Homes for Oregon Fund to deposit Article XI-Q bonds to be used to preserve affordable housing at risk of loss.
Amendment -2 proposed
Referred to Housing and Homelessness with subsequent referral to Ways and Means.
First reading. Referred to Speaker's desk.
($75 million) and for affordable housing preservation ($25 million) pursuant to HB 4036 (2026). Department of Veterans’ Affairs The subcommittee approved budgetary ad
($75 million) and for affordable housing preservation ($25 million) pursuant to HB 4036 (2026). Department of Veterans’ Affairs The subcommittee approved budgetary ad
($75 million) and for affordable housing preservation ($25 million) pursuant to HB 4036 (2026). Department of Veterans’ Affairs The subcommittee approved budgetary ad
($75 million) and for affordable housing preservation ($25 million) pursuant to HB 4036 (2026). Department of Veterans’ Affairs The subcommittee approved budgetary ad
provision of law, in addition to the amounts 6 appropriated by section 1 (3), chapter 584, Oregon Laws 2025, for the biennium ending June 7 30, 2027, as modified by legislative or Emerge
g expenditures, the limitation on 12 expenditures established by section 2 (3), chapter 584, Oregon Laws 2025, as the maximum 13 limit for payment of expenses from fees, moneys or other rev
s, but excluding lottery funds and federal funds not described in 16 section 2, chapter 584, Oregon Laws 2025, collected or received by the Housing and Commu- 17 nity Services Department, f
r provision of law, in addition to the amounts ap- propriated by section 1 (3), chapter 584, Oregon Laws 2025, for the biennium ending June 30, 2027, as modified by legislative or Emergency
ng expenditures, the limitation on ex- penditures established by section 2 (3), chapter 584, Oregon Laws 2025, as the maximum limit for payment of expenses from fees, moneys or other revenu
ices, but excluding lottery funds and federal funds not described in section 2, chapter 584, Oregon Laws 2025, collected or received by the Housing and Commu- nity Services Department, for
rovision of law, in addition to the amounts ap- 2 propriated by section 1 (3), chapter 584, Oregon Laws 2025, for the biennium ending June 30, 3 2027, as modified by legislative or Emerge
g expenditures, the limitation on 8 expenditures established by section 2 (3), chapter 584, Oregon Laws 2025, as the maximum 9 limit for payment of expenses from fees, moneys or other rev
s, but excluding lottery funds and federal funds not described in 12 section 2, chapter 584, Oregon Laws 2025, collected or received by the Housing and Commu- 13 nity Services Department, f
ssed bill, line 2, delete the second 2 “and”. 3 In line 3, delete “section 1, chapter 630, Oregon Laws 2025”. 4 Delete pages 3 through 6. 5 On page 7, delete lines 1 through 36 and inse
ssed bill, line 2, delete the second 2 “and”. 3 In line 3, delete “section 1, chapter 630, Oregon Laws 2025”. 4 Delete pages 3 through 6. 5 On page 7, delete lines 1 through 36 and inse
grossed bill, line 2, delete the second “and”. 2 In line 3, delete “section 1, chapter 630, Oregon Laws 2025”. 3 Delete pages 3 through 6. 4 On page 7, delete lines 1 through 36 and inse
ng; creating new provisions; amending ORS 456.559 and 456.824 and 3 section 1, chapter 630, Oregon Laws 2025; and declaring an emergency. 4 Be It Enacted by the People of the State of Ore
ng; creating new provisions; amending ORS 456.559 and 456.824 and 3 section 1, chapter 630, Oregon Laws 2025; and declaring an emergency. 4 Be It Enacted by the People of the State of Ore
duties of the department under ORS 456.766 to 456.828. 35 SECTION 5. Section 1, chapter 630, Oregon Laws 2025, is amended to read: 36 Sec. 1. The amounts authorized, as provided by ORS 286A
under ORS 456.766 to 456.828. [2] A-Eng. HB 4036 1 SECTION 5. Section 1, chapter 630, Oregon Laws 2025, is amended to read: 2 Sec. 1. The amounts authorized, as provided by ORS 286A
he impacts of this measure are already included in the bond authorization bill (SB 5701). ____________________________________________________________________________
S LIMITED NONLIMITED LIMITED NONLIMITED FUNDS POS FTE SUBCOMMITTEE ADJUSTMENTS SCR 030 - Multifamily Rental Housing Programs Personal Services $ - $ - $ 128,115 $ -
S LIMITED NONLIMITED LIMITED NONLIMITED FUNDS POS FTE SUBCOMMITTEE ADJUSTMENTS SCR 030 - Multifamily Rental Housing Programs Personal Services $ - $ - $ 128,115 $ -
“Chapter 107, (2026 Laws): Effective date April 7, 2026.”
Confirm with the official record.
Supplemental, source-linked analysis from project researchers and community contributors. It is separate from Oregon's official record.