Bipartisan Legislation to Expand Homeownership Opportunities Clears Senate
SALEM, Ore. – Senator Tim Knopp (R-Bend) carried Senate Bill 458 on the Senate floor. Co-sponsored with Sen. Lew Fredrick (D-Portland), the legislation would expand homeownership opportunities for Oregonians.
In 2019, to increase the stock of housing to make it more affordable, the legislature passed HB 2001 which expanded middle housing construction in single-family neighborhoods. HB 2001 did not address regulatory barriers to selling those new units. Local ordinances currently create a patchwork of regulations on the sale of middle housing. SB 458 will create a statewide standard for the sale of middle housing in the communities implementing HB 2001.
Senator Tim Knopp released the following statement:
“The best way to bring down the cost of housing is to increase the stock of housing built at affordable cost. This bill adds to the work we did in 2019. We know that one of the best ways to build intergenerational wealth is through homeownership. This legislation will ensure more people have access to buy homes, especially first-time homebuyers.”
The bill passed the Senate on a 25-4 vote and will now head to the House of Representatives for further consideration.