HB 4104
Authorizes Oregon CHIPS Fund grants and loans to businesses that are eligible for federal semiconductor financial assistance under the CHIPS Act but have not applied for it.
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Sign in to take actionPublic sentiment
Support
50%
Oppose
50%
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill authorizes Oregon’s CHIPS Fund to provide grants and loans to businesses that are eligible for federal semiconductor financial assistance under the CHIPS Act, but haven’t yet applied for it. It expands the types of businesses that can receive these funds and officially renames the fund to the Oregon Fostering Innovation Strength at Home and CHIPS Fund. The bill also declares an emergency, making it effective immediately upon passage.
Sponsors
Official sponsors from legislative records.
Primary sponsors
Cosponsors
Arguments in favor
Reasons to support this legislation.
Supporters of House Bill 4104 argue that the legislation offers a pragmatic approach to economic development, enabling Oregon to provide targeted support to eligible businesses that meet federal standards. By allowing state assistance without requiring federal funding applications, the bill aims to foster resilience and accountability in the state's economic strategy. Proponents believe this modernized approach will help stimulate growth, create jobs, and promote competitiveness, while also ensuring transparency and oversight through regular evaluations and reporting requirements.
Source: Testimony Summaries
Arguments opposed
Reasons to oppose this legislation.
Opponents of the proposed legislation express concerns that federal funding for Oregon is at risk of dwindling, potentially leading to a loss of economic stability in the state. They argue that this trend is already evident, as large semiconductor plants are likely to relocate to other states with more favorable business environments and tax incentives. This relocation would not only harm Oregon's economy but also deprive the federal government of revenue generated from these industries. Furthermore, opponents contend that the proposed legislation does not adequately address the root causes of this trend, instead relying on short-term fixes that fail to provide a sustainable solution for Oregon's economic future.
Source: Testimony Summaries
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