HB 4003

Abstract

Authorizes Housing and Community Services Department to provide grants, loans and technical assistance to organizations increasing homeownership program access to persons of color. Defines "persons of color." Authorizes expending Home Ownership Assistance Account funds for those purposes. Makes Oregon Housing Fund and subaccounts available to federally recognized Indian tribes that hold land in this state. Allows Department of Consumer and Business Services to require implicit bias training for mortgage loan originators. Requires Real Estate Commissioner to add implicit bias component to real estate licensing exam and continuing education credits by January 1, 2022. Requires Appraiser Certification and Licensure Board to add implicit bias component to education requirements for appraiser certification or licensure by January 1, 2022. Requires real estate licensee acting as buyer's agent to provide information to buyer regarding low-income home buyer opportunities. Establishes Joint Task Force on Addressing Racial Disparities in Home Ownership. Requires task force to report to interim committee of Legislative Assembly on or before December 1, 2020. Sunsets task force on February 1, 2021. Appropriates moneys to Housing and Community Services Department and Legislative Policy and Research Committee] to administer Act. Takes effect on 91st day following adjournment sine die.