2021 Legislative Session Recap: Access to Homeownership and Assets

The 2021 Legislative session included a number of proposals to help people access or maintain homeownership, and access assets. Read on for details on what was proposed and what passed this session.

Foreclosure Moratorium & Foreclosure Counseling (HB 2009HB 5011): The Legislature reinstated the foreclosure moratorium (HB 2009) to protect homeowners from losing their homes in a global pandemic. In addition, the Legislature committed $3 million to provide counseling to homeowners at risk of or facing foreclosure (HB 5011). These bills passed.

Oregon Individual Development Account (IDA) Initiative (HB 2433HB 5011): The Oregon Individual Development Account (IDA) Initiative is a matched savings program to help people with low incomes build assets such as a home, a small business, or an education. HB 2433 extended the tax credit for six years, and HB 5011 committed $7 million in one time only funds to address funding gaps and waiting lists. Both bills passed. 

Addressing missing middle housing through zoning (SB 458): In 2019, the Legislature passed landmark legislation by allowing duplexes, triplexes, quads, and cottage clusters in cities of a certain size will increase housing options for changing needs in communities. SB 458 allows an automatic lot division to ensure all homes can be purchased. This bill passed.

Expand the Earned Income Tax Credit to ITIN Filers (HB 2433): Provisions included in HB 2433 expanded the State EITC to include ITIN filers who were previously ineligible. HB 2433 passed.

Accessory Dwelling Unit (ADU) Pilot Program (HB 3335): The demonstration project funded through HB 3335 will build ADUs to support financial stability for homeowners and create an affordable rental home to preventing displacement. HB 3335 included $1 million to build 15 new small homes, ten in urban areas and five in rural areas. This bill passed.

Home Ownership Limited Tax Exemption technical fixes (HB 2456): The Home Ownership Limited Tax Exemption (HOLTE) is a local option property tax exemption authorized by the Legislature for owner-occupied single unit housing for purchase. HB 2456 includes a technical fix to address problems with implementation, and would amend statute to allow a city to grant a case-by-case extension by up to 24 months for construction. This bill passed.

Expanding the Definition of Veterans (HB 2094): OHCS operates several programs designed to serve veterans. However, the existing definition of ‘veteran’ is not inclusive, and excludes many who need assistance and served in the military. HB 2094 allows OHCS to define “veteran” for OHCS programs in rule. This bill passed.
Healthy Homes (
HB 2842): Homeowners with low incomes need assistance to maintain their homes safety. This proposal will help fund basic health and safety repairs. $10 million was included. This bill passed.

Manufactured Home Replacement (HB 3218HB 5011): Replacing manufactured homes for people with low and moderate incomes will improve health outcomes and reduce energy costs. HB 3218 made technical changes to the program to allow wildfire survivors to access funds. HB 5011 increased funding for this important program by $2.5 million. These bills passed.

Support permanently affordable homeownership through property tax exemptions (HB 3275): Homeowners with low incomes who own homes through a shared equity model are exempt from a portion of property taxes to make their homes more affordable, and reflect the role of the non-profit land trust under HB 3275. This bill passed.

Addressing Racial Disparities in Homeownership (HB 2007): This bill continues the Task Force to Address Racial Disparities in Homeownership and training for real estate professionals on implicit bias. This bill passed.

Support tenant opportunity to purchase (HB 2364): Residents of manufactured home communities should have the opportunity to make an offer and purchase their community. HB 2364 makes important improvements to existing laws related to opportunity to purchase. This bill passed.

Additional bills related to homeownership which passed this session:

  • HB 5011 included $10 million for down payment assistance tied to the Department’s new mortgage lending product. This down payment assistance will be considered a secondary loan and is expected to revolve.  There is an additional $10 million in one time only dollars to be sub-granted to culturally responsive organizations for down payment assistance.
  • HB 5011 included $2 million to provide technical assistance and outreach to culturally specific organizations to reduce barriers to communities accessing homeownership.
  • HB 5011 included $4.5 million for manufactured home park acquisition and preservation loan program.
  • HB 5011 included $20 million in one time only general funds for homeownership development, including alternative ownership models such as co-operatives, and affordable single family housing.
  • SB 79 updated definitions related to the Home Owner Assistance Program (HOAP) and definitions of communities of color.
  • SB 391 allows ADUs on rural residential lands in certain circumstances.
  • SB 805 creates a voluntary master builder certification program for vertical homeownership (condos).
  • HB 3219 made important changes to allow manufactured homes destroyed by wildfire to be rebuilt. In addition, HB 2456 included provisions that allowed parks that were destroyed by wildfire to access an existing capital gains exemption that incentivizes owners to sell to resident owned cooperatives, non-profits, or public housing authorities.