On February 20, Senate Bill 1527 passed the Oregon Senate unanimously.
SB 1527 removes administrative barriers so that more Oregonians can access the First Time Home Buyer Savings Account Program, making it easier to take advantage of the personal income tax subtraction. This program allows low- and median-income Oregonians to use the money deposited into this account for costs associated with buying a home, such as down payments and other closing costs.
“Putting homeownership in reach for more Oregonians will keep and attract the workforce we need in this state, while making a big difference in our homelessness and affordable housing crisis,” said Senator Mark Meek (D- Gladstone), who carried this bill on the floor of the Senate. “This is a common sense step that will make our state an easier place to live, work, and raise a family.”
SB 1527 is a key pillar of Senate Democrats’ Uniting Oregon Agenda, which aims to put affordable housing within reach for all Oregonians. The bill now goes to the Oregon House of Representatives for consideration.
