PUBLIC HEARING: HB 2168 A

 

TAPE 118, A

 

 

SENATE REVENUE COMMITTEE

May 8, 2003   1:00 PM   STATE CAPITOL BUILDING

 

 

Members Present:                        Senator Ryan Deckert, Chair

                                                Senator Ted Ferrioli, Vice Chair

                                                Senator Tony Corcoran

                                                Senator Lenn Hannon

                                                Senator Charlie Ringo

                                                Senator Bruce Starr

 

Witness Present:                        Jack Kenny, Oregon Housing and Community Services

                                                John Blatt, Association of Oregon Community Development Organizations

 

Staff Present:                            Paul Warner, Legislative Revenue Office

                                                Lizbeth Martin-Mahar, Legislative Revenue Office

                                                Megan Jensen, Committee Assistant

 

TAPE 118, SIDE A

 

004

Chair Deckert

Calls meeting to order at 1:37 p.m. Announces that HB 2186 and HB 2043 will not be heard.

           

OPENS PUBLIC HEARING ON HB 2168 A

 

015

Lizbeth

Martin-Mahar

Explains HB 2168, which adds a qualified assignee as a taxpayer that is eligible for a tax credit for financing a loan for low-income housing. States that there is no revenue impact.

 

 

 

030

Chair Deckert

Requests information on the fiscal impact of HB 2168.

 

 

 

040

Elizabeth

Explains the fiscal impact over the next seven years.

 

 

 

051

Jack Kenny

Oregon Housing and Community Services Deputy Director. Provides testimony in support of HB 2168 (EXHIBIT 1). States that the Oregon Affordable Housing Tax Credit (OAHTC) program has been a very effective tool to provide affordable rents to Oregonians at low-income levels. Describes the OAHTC program and explains program benefits.

 

 

 

100

John Blatt

Association of Oregon Community Development Organizations (AOCDO). Provides testimony in support of HB 2168. Talks about how the OAHTC program allows banks and other financial institutions to claim a tax credit of up to four percent of the principal balance for corresponding interest rate reductions on loans made to developers of affordable housing.

 

RECESSES MEETING

 

RE-OPENS MEETING

 

153

Chair Deckert

Closes public hearing on HB 2168. Adjourns meeting at 1:57 p.m.

 

Tape Log Submitted by,

 

 

Megan Jensen, Committee Assistant Reviewed by Kim Taylor James

 

Exhibit Summary:

1.      HB 2168, Jack Kenny, written testimony, 2 pp.