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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Senate Bill 5505
Printed pursuant to Senate Interim Rule 213.28 by order of the President of the Senate in conformance with pre-
session filing rules, indicating neither advocacy nor opposition on the part of the President (at the request
of Oregon Department of Administrative Services)
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 governs bonding by the state for the biennium. (Flesch Readability Score: 78.2).
Establishes amounts authorized for issuance of general obligation bonds, revenue bonds, certif-
icates of participation and other financing agreements for the biennium.
Establishes amounts allocated for private activity bonds.
Authorizes general obligation bonding for the Interstate 5 bridge replacement project for future
biennia.
Makes legislative findings regarding benefits to higher education institutions and community
colleges from the issuance of bonds under Article XI-F(1) and Article XI-G of the Oregon Constitu-
tion.
Requires a constructing authority to make certain certifications before issuance of bonds under
Article XI-G of the Oregon Constitution.
Declares an emergency, effective July 1, 2025.
A BILL FOR AN ACT
Relating to state financial administration; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1. The amounts authorized, as provided by ORS 286A.035, for issuance of gen-
eral obligation bonds of the state during the 2025-2027 biennium are as follows:
GENERAL OBLIGATION BONDS
General Fund Obligations
(1)Higher Education Coordinating
Commission (Art. XI-G):
(a)Clackamas Community College,
Center for Excellence for
Farming, Horticulture and
Wildland Fire..........................$ 8,085,000
(b)Klamath Community College,
Cosmetology ADA
Remediation............................$ 4,045,000
(c)Mt. Hood Community College,
Classroom and Lab
Renovations............................$ 8,085,000
(d)Portland State University,
Portland Center for the
Performing Arts Academic
Building...................................$85,660,000
(2)Department of Environmental
Note: For budget, see 2025-2027 Biennial Budget
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 9505 SB5505
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Quality (Art. XI-H).................$10,333,333
(3)Oregon Business Development
Department (Art. XI-M) .........$100,910,000
(4)Oregon Business Development
Department (Art. XI-N)..........$50,580,000
(5)Department of Education
(Art. XI-P)..............................$108,860,000
(6)Oregon Department of
Administrative
Services (Art. XI-Q):
(a)Oregon Department of
Administrative Services,
Oregon State Fair Regional
Emergency Center ..................$ 4,935,000
(b)Housing and Community
Services Department:
(A)Local Innovation and Fast
Track (LIFT) Affordable
Rental Housing Program ........$704,660,000
(B)Local Innovation and Fast
Track (LIFT) Homeownership
Program..................................$100,910,000
(C)Permanent Supportive
Housing Program....................$80,760,000
(c)Department of Corrections:
(A)Capital Improvement and
Renewal..................................$70,570,000
(B)Computerized Maintenance
Management System ...............$ 2,285,000
(C)Institution Staff Deployment
System Replacement (ISDS) ...$ 625,000
(D)Wireless Communication
System....................................$13,040,000
(d)Department of Education,
Oregon School for the
Deaf Facility Improvements ...$92,695,000
(e)State Forestry Department:
(A)Capital Improvements ............$ 6,075,000
(B)Klamath Fire Cache
Warehouse Replacement ........$ 1,723,800
(C)Santiam Facility Replacement,
Phase I....................................$ 1,115,400
(D)State Forester, Office
Building Restoration...............$ 6,861,200
(E)Toledo Facility Replacement,
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PhaseIII.................................$ 2,542,388
(F)Veneta Campus Remodel ........$ 6,160,508
(f)State Department of
Fish and Wildlife:
(A)Capital Improvements,
Hatchery Facilities.................$20,180,000
(B)Rogue Watershed District
Office Replacement.................$ 5,320,000
(g)Department of Veterans’
Affairs, Roseburg Oregon
Veterans’ Home......................$35,350,000
(h)Oregon Health Authority,
Oregon State Hospital
Capital Improvements
and Equipment........................$ 7,545,000
(i)Judicial Department:
(A)Clackamas County
Courthouse.............................$ 5,905,000
(B)Crook County Courthouse ......$ 3,240,000
(C)Harney County Courthouse ....$ 2,035,000
(D)Morrow County Courthouse ...$ 2,535,000
(E)Umatilla County Courthouse ..$94,955,000
(j)Oregon Military Department:
(A)Bend Armory Service Life
Extension................................$ 9,495,000
(B)Klamath Falls Readiness
Center.....................................$ 2,035,000
(C)Linn County Readiness
Center.....................................$ 7,080,000
(D)Salem Armory and Auditorium
Service Life Extension and
Emergency Enhancements .....$ 6,375,000
(E)Woodburn Armory Service
Life Extension and
Emergency Enhancements .....$ 6,175,000
(F)Oregon Youth Challenge
Athletic Field..........................$ 5,120,000
(k)Department of State Police:
(A)Coos Bay Area Command
Center Property Acquisition...$ 3,540,000
(B)Ontario Area Command
Center Property Acquisition...$ 3,540,000
(L)Oregon Youth Authority:
(A)Capital Improvements,
All Facilities...........................$18,225,000
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(B)CCTV and Access Control
Improvement, Phase IV ..........$ 5,630,000
(C)JJIS IT System
Modernization.........................$ 1,685,000
(D)MacLaren Infirmary and
Pharmacy Renovation and
Expansion...............................$ 2,735,000
(m)Department of Public Safety
Standards and Training,
Learning Management
System....................................$ 3,510,000
(n)Department of Environmental
Quality, Laboratory and
Monitoring Equipment ............$ 1,350,000
(o)Higher Education Coordinating
Commission:
(A)Public Universities Capital
Improvement and Renewal .....$201,425,000
(B)IT Modernization....................$ 5,875,000
(p)State Department of
Agriculture, Project
OneODA..................................$15,350,000
(q)Oregon Public Defense
Commission, Financial Case
Management System ...............$13,915,000
(7)Department of
Transportation (Art. XI,
section 7), Interstate 5
Bridge Replacement Project ...$251,825,000
Dedicated Fund Obligations
(8)Department of Veterans’
Affairs (Art. XI-A)..................$116,000,000
(9)Higher Education Coordinating
Commission (Art. XI-F(1)):
(a)Portland State University,
Portland Center for the
Performing Arts Parking
Structure................................$53,010,000
(b)Portland State University,
Student Housing.....................$85,660,000
(10)Department of Environmental
Quality (Art. XI-H).................$20,080,000
(11)Housing and Community
Services Department
(Art. XI-I(2))...........................$50,000,000
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(12)Oregon Department of
Administrative Services
(Art. XI-Q):
(a)Oregon Department of
Administrative Services,
Labor and Industries Building
Renovation and Seismic
Upgrade...................................$126,080,000
(b)State Forestry Department:
(A)Klamath Fire Cache Warehouse
Replacement...........................$ 3,346,200
(B)Santiam Facility Replacement,
Phase I....................................$ 3,954,600
(C)State Forester, Office
Building Restoration...............$13,318,800
(D)Toledo Facility Replacement,
Phase III.................................$ 3,532,612
(E)Veneta Campus Remodel ........$ 8,994,492
(c)Department of Veterans’
Affairs:
(A)Lebanon Edward C. Allworth
Veterans’ Home
Capital Improvements ............$ 4,615,000
(B)Department of Veterans’
Affairs Salem HVAC
Controls Replacement,
Phase II..................................$ 1,585,000
(C)Department of Veterans’
Affairs Salem Roof
Replacement...........................$ 1,230,000
(D)The Dalles Oregon Veterans’
Home Capital Improvements ..$ 1,150,000
(d)Oregon Liquor and Cannabis
Commission, Liquor
Warehouse Management
IT System...............................$ 8,090,000
Total General Obligation
Bonds......................................$2,714,113,333
SECTION 2. The amounts authorized, as provided by ORS 286A.035, for issuance of re-
venue bonds of the state during the 2025-2027 biennium are as follows:
REVENUE BONDS
Direct Revenue Bonds
Housing and Community
Services Department.............$500,000,000
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Department of Transportation,
Highway User Tax.................$850,000,000
Department of Transportation,
Grant Anticipation Revenue
Vehicle..................................$345,000,000
Oregon Business Development
Department...........................$ 30,000,000
Oregon Department of
Administrative Services,
Lottery Revenue Bonds ........$570,890,000
Total Direct Revenue
Bonds.................................... $ 2,295,890,000
Pass-Through Revenue Bonds
Oregon Business Development
Department, Industrial
Development Bonds...............$600,000,000
Oregon Business Development
Department, Beginning and
Expanding Farmer Loan
Program................................$ 2,000,000
Oregon Facilities Authority..$1,000,000,000
Housing and Community
ServicesDepartment............. $ 1,300,000,000
Total Pass-Through Revenue
Bonds.................................... $ 2,902,000,000
Total Revenue Bonds............$5,197,890,000
SECTION 3. The amount authorized, as provided by ORS 286A.035, for issuance of cer-
tificates of participation and other financing agreements of the state during the 2025-2027
biennium for the Oregon Department of Administrative Services is $13,037,910.
SECTION 4.(1) For calendar year 2026, the amount of $550,336,540 is allocated for private
activity bonds, as provided in ORS 286A.615, as follows:
(a)Oregon Business Development
Department, Industrial
Development Bonds...................$40,000,000
(b)Oregon Business Development
Department, Beginning and
Expanding Farmer Loan
Program....................................$1,000,000
(c)Housing and Community
Services Department.................$450,000,000
(d)Private Activity Bond
Committee.................................$59,336,540
(2) For calendar year 2027, the amount of $550,336,540 is allocated for private activity
bonds, as provided in ORS 286A.615, as follows:
(a)Oregon Business Development
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Department,Industrial
DevelopmentBonds...................$40,000,000
(b)Oregon Business Development
Department, Beginning and
Expanding Farmer Loan
Program....................................$1,000,000
(c)Housing and Community
Services Department.................$450,000,000
(d)Private Activity Bond
Committee.................................$59,336,540
(3) If an increase in this state’s population, a sufficient increase in the Consumer Price
Index or a change in federal law allows the private activity bond limit as set by the Internal
Revenue Code of 1986, as amended, to exceed $550,336,540 during the 2026 calendar year or
$550,336,540 during the 2027 calendar year, the increase is allocated to the Private Activity
BondCommittee.
SECTION 5. In addition to and not in lieu of any authorization to issue general obligation
bonds under ORS 286A.035, in the biennium beginning July 1, 2027, at the request of the De-
partment of Transportation, the State Treasurer may issue general obligation bonds au-
thorized under Article XI, section 7, of the Oregon Constitution, in an amount that produces
$250,000,000 of net proceeds for the Interstate 5 bridge replacement project, plus an amount
estimated by the State Treasurer to pay bond-related costs.
SECTION 6.In addition to and not in lieu of any authorization to issue general obligation
bonds under ORS 286A.035, in the biennium beginning July 1, 2029, at the request of the De-
partment of Transportation, the State Treasurer may issue general obligation bonds au-
thorized under Article XI, section 7, of the Oregon Constitution, in an amount that produces
$250,000,000 of net proceeds for the Interstate 5 bridge replacement project, plus an amount
estimated by the State Treasurer to pay bond-related costs.
SECTION 7.(1) For purposes of Article XI-F(1), section 1, of the Oregon Constitution,
the Legislative Assembly determines that the projects authorized to be financed pursuant to
section 1 (9) of this 2025 Act with bonds issued under Article XI-F(1) of the Oregon Consti-
tution will benefit higher education institutions or activities.
(2) For purposes of Article XI-G, section 1, of the Oregon Constitution, the Legislative
Assembly determines that the projects authorized to be financed pursuant to section 1 (1)
of this 2025 Act with bonds issued under Article XI-G of the Oregon Constitution will benefit
higher education institutions or activities or community colleges authorized by law to receive
stateaid.
SECTION 8.Bonds authorized pursuant to Article XI-G of the Oregon Constitution under
section 1 (1) of this 2025 Act for the benefit of a constructing authority may not be issued
until the constructing authority certifies that the constructing authority has matching funds
available for the same or similar purposes as the bonds, that the matching funds are not
proceeds of indebtedness incurred by the state under any other article of the Oregon Con-
stitution, and that the matching funds are available to the constructing authority in an
amount at least equal to the amount of indebtedness incurred by the state through the is-
suance of the bonds.
SECTION 9. (1) Out of the amount specified in section 1 (6)(i)(A) of this 2025 Act, the
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State Treasurer may issue Article XI-Q bonds in an amount not to exceed $5,830,000 of net
proceeds for the purposes and in the manner specified in section 8, chapter 705, Oregon Laws
2013, plus an amount estimated by the State Treasurer to pay estimated bond-related costs.
(2) Out of the amount specified in section 1 (6)(i)(B) of this 2025 Act, the State Treasurer
may issue Article XI-Q bonds in an amount not to exceed $3,200,000 of net proceeds for the
purposes and in the manner specified in section 8, chapter 705, Oregon Laws 2013, plus an
amount estimated by the State Treasurer to pay estimated bond-related costs.
(3) Out of the amount specified in section 1 (6)(i)(C) of this 2025 Act, the State Treasurer
may issue Article XI-Q bonds in an amount not to exceed $2,000,000 of net proceeds for the
purposes and in the manner specified in section 8, chapter 705, Oregon Laws 2013, plus an
amount estimated by the State Treasurer to pay estimated bond-related costs.
(4) Out of the amount specified in section 1 (6)(i)(D) of this 2025 Act, the State Treasurer
may issue Article XI-Q bonds in an amount not to exceed $2,500,000 of net proceeds for the
purposes and in the manner specified in section 8, chapter 705, Oregon Laws 2013, plus an
amount estimated by the State Treasurer to pay estimated bond-related costs.
(5) Out of the amount specified in section 1 (6)(i)(E) of this 2025 Act, the State Treasurer
may issue Article XI-Q bonds in an amount not to exceed $94,245,000 of net proceeds for the
purposes and in the manner specified in section 8, chapter 705, Oregon Laws 2013, plus an
amount estimated by the State Treasurer to pay estimated bond-related costs.
(6) For purposes of sections 8 and 9, chapter 705, Oregon Laws 2013, and section 64,
chapter 723, Oregon Laws 2013, bonds issued pursuant to this section are considered to be
bonds issued pursuant to section 8, chapter 705, Oregon Laws 2013.
(7) Bonds may not be issued pursuant to section 1 (6)(i)(A), (B), (C), (D) or (E) of this 2025
Act except as provided in this section.
SECTION 10. 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
July 1, 2025.
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