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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
House Bill 3232
Sponsored by Representative NATHANSON, Senators MANNING JR, GOLDEN; Representative LIVELY, Senators
CAMPOS, PHAM K (Presession filed.)
SUMMARY
The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject
to consideration by the Legislative Assembly. It is an editor’s brief statement of the essential features of the
measure as introduced.The statement includes a measure digest written in compliance with applicable readability
standards.
Digest: The Act would ease one of the rules for an existing limited equity co-op to be able to
claim the low income rental housing tax break. (Flesch Readability Score: 60.0).
Removes the eligibility requirement for the low income rental housing property tax exemption
that property of a limited equity cooperative be constructed or converted after the local governing
body adopts the exemption program.
Takes effect on the 91st day following adjournment sine die.
A BILL FOR AN ACT
Relating to exemption of property owned by a limited equity cooperative; creating new provisions;
amending ORS 307.520; and prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 307.520 is amended to read:
307.520. (1) Property or a portion of property owned by a limited equity cooperative is exempt
from taxation as provided under ORS 307.515 to 307.523 if:
(a) The property is occupied by low income persons holding a proprietary lease in the limited
equitycooperative;
(b) The charges paid by the occupant to the limited equity cooperative for occupancy reflect the
full value of the property tax exemption;
(c) The exemption has been approved as provided in ORS 307.523, pursuant to an application
filed before July 1, 2030; and
[(d) The housing units on the property were constructed, or converted to limited equity cooperative
ownership, after the local governing body adopted the provisions of ORS 307.515 to 307.523; and]
[(e)] (d) The information disclosed on the application filed pursuant to ORS 307.521 meets any
other criteria adopted by the governing body.
(2) A governing body that adopts the provisions of ORS 307.515 to 307.523 may adopt additional
criteria for exemption that do not conflict with the criteria described in subsection (1)(a) to [(d)] (c)
of this section.
SECTION 2.The amendments to ORS 307.520 by section 1 of this 2025 Act apply to claims
for exemption under ORS 307.520 for property tax years beginning on or after July 1, 2026.
SECTION 3.This 2025 Act takes effect on the 91st day after the date on which the 2025
regular session of the Eighty-third Legislative Assembly adjourns sine die.
NOTE:Matter in boldfaced type in an amended section is new; matter [italic and bracketed] is existing law to be omitted.
New sections are in boldfaced type.
LC 1887