SB 5505
Establishes amounts authorized for issuance of general obligation bonds, revenue bonds, certificates of participation and other financing agreements for the biennium.
Jurisdiction
Oregon
Session
2025 Regular Session
At the request of
(at the request of Oregon Department of Administrative Services)
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Sign in to take actionPublic sentiment
Support
100%
Oppose
0%
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill authorizes the state of Oregon to issue various types of financial bonds – general obligation, revenue, and certificates of participation – to fund capital projects across multiple state agencies and higher education institutions. Specifically, it allocates funds for projects like bridge replacements, community college renovations, university buildings, and infrastructure improvements. The bill also includes provisions related to private activity bonds and apprenticeship requirements for construction contracts. An emergency declaration allows the bill to take effect on July 1, 2025.
Key provisions
- Authorizes specific bond amounts for numerous projects across state agencies and higher education institutions.
- Establishes allocations for private activity bonds for the Coos Bay Channel Modification project.
- Requires contractors on capital construction projects to meet apprenticeship and workforce diversity goals.
- Modifies existing law regarding community college bond approvals and project timelines.
- Establishes conditions for issuing bonds related to the Interstate 5 Bridge Replacement Project.
- Declares an emergency, allowing the bill to take effect on July 1, 2025.
- Specifies requirements for constructing authorities issuing bonds under Article XI-G of the Oregon Constitution.
- Replaces and amends previous legislation regarding community college bond restrictions.
Who is affected
- Oregon State Government Agencies
- Higher Education Institutions (Universities and Community Colleges)
Sponsors
Official sponsors from legislative records.
Primary sponsor
Oregon Department of Administrative Services
Arguments in favor
Reasons to support this legislation.
Supporters of various initiatives emphasize the importance of funding for fish hatcheries and cultural infrastructure, citing their significance for economic growth, community resources, and human well-being. The proposed Portland Performing Arts & Culture Complex is seen as a transformative project that will enrich the city's cultural, educational, and economic landscape, while also stimulating economic growth. Many testifiers highlight the importance of hatcheries for recreational fishing, supporting local economies, and promoting outdoor activities, such as fly fishing. Additionally, supporters advocate for affordable housing options, emphasizing the need to preserve existing affordable homes and provide critical bonding investments for development. Overall, proponents argue that these initiatives will have a positive impact on Oregon's environmental, educational, and economic well-being, while also addressing pressing social issues like homelessness and access to safe and affordable housing.
Source: Testimony Summaries
Arguments opposed
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