Senate Bill 1045

Authorizes city or county to adopt property tax exemption <i>for portion</i>] <b>in amount not to exceed $300,000 of assessed value</b> of principal place of residence used by homeowner to rent space in residence <b>through public or nonprofit home share program</b> to individuals seeking such space. <i>Provides that exemption shall be granted as 100 percent exemption for five consecutive years unless city or county adopts other terms.</i>] Provides that <i>city or county</i>] <b>adopting jurisdiction</b> must require <i>means testing of home share seekers. Requires</i>] home share rental agreement to offer space at rent affordable to home share seekers with income at or below <i>level determined by city or county</i>] <b>60 percent of area median income, must prohibit exemption for home share agreements among family members and must specify period for which exemption may be granted</b>. Provides that <i>exemption applies only to tax levy of city or county enacting exemption law and other taxing districts agreeing to grant exemption,</i>] <b>ordinance or resolution granting exemption may not take effect</b> unless rates of taxation of <b>adopting jurisdiction and</b> taxing districts that agree to grant exemption equal 51 percent or more of total combined rate of taxation. <i>Requires exemption to be granted to all residences on same terms in effect on date application is submitted.</i>] Prohibits property receiving any other property tax benefit, other than homestead property tax deferral, from being granted home share exemption. Allows <i>city or county</i>] <b>adopting jurisdiction</b> to amend <i>or terminate</i>] exemption, subject to approval process of taxing districts described above, <b>or repeal exemption,</b> but provides that residences granted exemption continue to receive exemption under terms in effect at time exemption was first granted. <b>Sets cap of 500 homes that may be granted exemption statewide in any property tax year.</b> Sunsets authority of city or county to adopt exemption <i>or deferral on June 30</i>] <b>that becomes effective after January 31</b>, 2027. Repeals exemption program on January 2, 2029. Provides that residences granted exemption before repeal date continue to receive exemption <i>under terms in effect at time granted</i>] <b>if term extends past repeal date</b>. Takes effect on 91st day following adjournment sine die.

In the Senate

• Mark Hass

  Sponsor

• Bill Hansell

  Chief co-sponsor

In the House of Representatives

• Senate, third reading28–0

  Passed · May 16 · 2 present

• House of Representatives, third reading40–17

  Passed · Jun 20 · 3 present

• Senate committee amendmentAdopted

  Adopted May 14

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In the Senate Apr 4 – May 16

1. Apr 4Introduced
2. Apr 5Sent to Finance and Revenue
3. Apr 18Heard in Finance and Revenue
4. May 2Heard in Finance and Revenue
5. May 9Heard in Finance and Revenue
6. May 14Finance and Revenue recommended it as amended
7. May 15Read a second time
8. May 16Passed the Senate, 28 to 0

In the House of Representatives May 17 – Jun 20

1. May 17Arrived in the House of Representatives
2. May 20Sent to Revenue
3. Jun 5Heard in Revenue
4. Jun 18Heard in Revenue
5. Revenue recommended it
6. Jun 19Read a second time
7. Jun 20Passed the House of Representatives, 40 to 17

To the Governor Jun 24 – Jul 23

1. Jun 24Signed in the Senate
2. Jun 25Signed in the House of Representatives
3. Jul 15Signed by the Governor
4. Jul 23Became chapter 566 of Oregon Laws 2019
5. In force from September 29, 2019