83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Enrolled
Senate Bill 10
Sponsored by Senator WAGNER
CHAPTER .................................................
AN ACT
Relating to state financial administration; creating new provisions; amending section 8, chapter 43,
Oregon Laws 2022, section 51, chapter 13, Oregon Laws 2023, and section 3, chapter 97, Oregon
Laws 2024; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1. (1) Notwithstanding ORS 342.953, the amount of $10,251,020 is transferred
from the Educator Advancement Fund to the State School Fund established under ORS
327.008. The transfer shall be made on or before May 31, 2025.
(2) Notwithstanding ORS 327.013 and 327.019, the moneys transferred under subsection
(1) of this section shall be expended to repay school districts for inclusion of Federal Forest
Fee revenue in local revenue projections used for State School Fund distributions in the ac-
ademic years beginning in 2017, 2018 and 2019.
SECTION 2. Section 3, chapter 97, Oregon Laws 2024, is amended to read:
Sec. 3. (1) The Oregon Environmental Restoration Fund is established in the State Treasury,
separate and distinct from the General Fund. Interest earned by the Oregon Environmental
Restoration Fund shall be credited to the fund. The [Oregon Environmental Restoration] fund
consistsof:
(a) Proceeds from the Monsanto Settlement Agreement;
(b) Moneys transferred to the fund by the Legislative Assembly; and
(c) Other amounts deposited in the fund from any other public or private source.
(2) Moneys in the Oregon Environmental Restoration Fund are continuously appropriated to the
Oregon Watershed Enhancement Board to be expended, consistent with the terms of the Monsanto
Settlement Agreement, for the following purposes:
(a) To pay the expenses of the board and the Environmental Restoration Council incurred in the
administration of sections 1 to 12 [of this 2024 Act], chapter 97, Oregon Laws 2024; and
(b) To carry out section 4 [of this 2024 Act], chapter 97, Oregon Laws 2024.
(3) Moneys in the Oregon Environmental Restoration Fund shall be invested as provided in ORS
293.701 to 293.857 and the earnings from such investments shall be credited to the fund.
(4) The Oregon Watershed Enhancement Board shall administer the Oregon Environmental
RestorationFund.
(5) In addition to services provided as the investment officer for the Oregon Investment Council
under ORS 293.716, the State Treasurer shall provide accounting services specific to the Oregon
Environmental Restoration Fund.
SECTION 3. Pursuant to ORS 278.050, the Legislative Assembly approves the expenditure
by the State Parks and Recreation Department in the amount of $73,123, received by the
Enrolled Senate Bill 10 (SB 10-A) Page 1 department from the Insurance Fund as a result of damage to the Ruble House, for the
purpose of site interpretation and improvements.
SECTION 4. Section 8, chapter 43, Oregon Laws 2022, is amended to read:
Sec. 8. (1) On [July 1,] December 31, 2025, the School Stabilization Subaccount for Wildfire-
impacted School Districts established under section 4 [of this 2022 Act], chapter 43, Oregon Laws
2022, is abolished.
(2) Any moneys remaining in the School Stabilization Subaccount for Wildfire-impacted School
Districts on [July 1,] December 31, 2025, shall be transferred to the Statewide Education Initiatives
Account.
SECTION 5. Section 51, chapter 13, Oregon Laws 2023, is amended to read:
Sec. 51. (1) The [Oregon Facilities Authority shall] Housing and Community Services De-
partment shall make a grant to the Network for Oregon Affordable Housing (NOAH) to pro-
vide financing, including refinancing, to local governments or housing developers for predevelopment
costs, including infrastructure, site acquisition, planning, reports, surveys and consultants.
(2) Financing under this section is available only for housing projects that will be subject to an
affordability restriction, including an affordable housing covenant under ORS 456.270 to 456.295,
that:
(a) Has a term of no less than 25 years; and
(b) Requires that each dwelling unit be rented as the primary residence for a moderate income
household as defined in ORS 456.270.
(3) The financing provided [by the authority] under this section:
(a) May not exceed $500,000 per eligible project;
(b) Must charge interest of three percent or lower;
(c) May only be used for a project with a total cost of less than $40,000,000 or that consists of
80 or fewer residential units; and
(d) May not exceed 75 percent of the project’s total predevelopment costs unless the project will
be restricted to households with incomes equal to or less than the area median income.
(4) Notwithstanding the definitions of “housing institution” and “project” under ORS 289.005,
the activity [of the authority] under this section is an eligible project, as that term is used in this
chapter.
SECTION 6. This 2025 Act being necessary for the immediate preservation of the public
peace, health and safety, an emergency is declared to exist, and this 2025 Act takes effect
on its passage.
Enrolled Senate Bill 10 (SB 10-A) Page 2 Passed by Senate March 24, 2025
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Obadiah Rutledge, Secretary of Senate
..................................................................................
Rob Wagner, President of Senate
Passed by House April 2, 2025
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Julie Fahey, Speaker of House
Received by Governor:
........................M.,........................................................., 2025
Approved:
........................M.,........................................................., 2025
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Tina Kotek, Governor
Filed in Office of Secretary of State:
........................M.,........................................................., 2025
..................................................................................
Tobias Read, Secretary of State
Enrolled Senate Bill 10 (SB 10-A) Page 3