HB 3635
Increases the limit on the aggregate amount of XI-G general obligation bonds that may be issued for projects at a single community college.
Jurisdiction
Oregon
Session
2025 Regular Session
At the request of
(at the request of Representative Zach Hudson)
Committee
Ways and Means
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill increases the maximum amount of general obligation bonds a single Oregon community college can issue under Article XI-G of the Oregon Constitution. Specifically, it raises the limit to $14,250,000 for projects starting July 1, 2025. The bill also addresses the timeline for existing bonds and limits the number of projects a college can have awaiting funding simultaneously.
Key provisions
- Increases the maximum bond issuance limit for community colleges to $14,250,000 per project, starting July 1, 2025.
- Addresses the expiration dates for general obligation bonds issued before January 1, 2013.
- Limits a community college to one project awaiting matching funds at a time.
- Restricts the approval of new projects until the 2017 legislative session, unless a previously approved project is withdrawn.
- Amends existing law regarding bond issuance limits.
Who is affected
- Oregon Community Colleges
- Bond Investors
- State Government
- Higher Education Institutions
Notable changes
- Increases the bond issuance limit from $8 million to $14.25 million.
- Establishes timelines for the use of existing bonds issued before 2013.
Sponsors
Official sponsors from legislative records.
Primary sponsor
House Committee On Higher Education and Workforce Development
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