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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
House Bill 3769
Sponsored by Representative CHAICHI
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 tells DCBS to make a program to register rental units. (Flesch Readability
Score:67.7).
Directs the Department of Consumer and Business Services to establish a program to register
all dwelling units that are rented or available for rent. Allows the department to impose a civil
penalty for failure to register a dwelling unit. Provides that specified entities that own in excess of
a certain number of dwelling units are subject to an additional fee.
A BILL FOR AN ACT
Relating to housing; and providing for revenue raising that requires approval by a three-fifths ma-
jority.
Be It Enacted by the People of the State of Oregon:
SECTION 1. (1)(a) The Department of Consumer and Business Services shall establish
by rule a program to register each dwelling unit that is rented or available to rent pursuant
to a rental agreement or as a vacation occupancy. The rules adopted pursuant to this sub-
section must require, at a minimum, a description of the owner of the dwelling unit and
whether, for the ultimate parent owner of any entity owning the dwelling unit, more than
four of the following are true:
(A) The owner has a defined end date or plan to liquidate the company that is less than
10 years in the future;
(B) The owner raises capital primarily from institutional investors and high-net-worth
individuals;
(C) The owner uses debt financing beyond traditional property-level mortgages, such as
fund-level debt or mezzanine financing;
(D) The owner manages more than $150 million worth of assets;
(E) The owner registers with the Securities and Exchange Commission as an investment
adviser; or
(F) The owner pools funds from multiple large investors to purchase real estate portfo-
lios.
(b)(A) The rules adopted pursuant to this subsection must establish a registration fee.
(B) Fees collected under this subsection shall be deposited into the Home Ownership
Assistance Account established under ORS 458.655. Prior to depositing the fees under this
subparagraph, the department may retain a portion of the fees to reimburse the department
for reasonable administration costs.
(c) The department may assess a civil penalty against the owner of a dwelling unit de-
scribed in this subsection if the owner fails to register the dwelling unit as required under
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 4380 HB3769
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this subsection, in an amount not to exceed $____ per unit that is not registered.
(d) Civil penalties collected under this subsection shall be deposited into the Home Own-
ership Assistance Account established under ORS 458.655.
(2)(a) The department shall by rule establish a process to track the number of dwelling
units described in subsection (1) of this section that are owned by an entity described in
subsection (1) of this section. An entity that owns more than ___ dwelling units is subject
to a fee of not more than $____ per dwelling unit in excess of ___ dwelling units that the
entityowns.
(b) Fees collected under this subsection shall be deposited into the Home Ownership As-
sistance Account established under ORS 458.655. Prior to depositing the fees under this par-
agraph, the department may retain a portion of the fees to reimburse the department for
reasonable administration costs.
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