ORS 458.620¹
Oregon Housing Fund created
  • Housing Development and Guarantee Account, Emergency Housing Account, Home Ownership Assistance Account and Farmworker Housing Development Account created

(1) There is created, separate and distinct from the General Fund of the State Treasury, the Oregon Housing Fund, which shall consist of four separate revolving accounts, the Housing Development and Guarantee Account, the Emergency Housing Account, the Home Ownership Assistance Account and the Farmworker Housing Development Account.

(2) All earnings on investment of moneys in the Housing Development and Guarantee Account shall accrue to that account. All earnings on investment of moneys in the Emergency Housing Account shall accrue to that account. All earnings on investment of moneys in the Home Ownership Assistance Account shall accrue to that account. All earnings on investment of moneys in the Farmworker Housing Development Account shall accrue to that account.

(3)(a) Moneys in the Housing Development and Guarantee Account are appropriated continuously to the Housing and Community Services Department to carry out the provisions of ORS 458.625 (Disbursement of account investment revenues in Housing Development and Guarantee Account) and 458.630 (Use of funds in Housing Development and Guarantee Account).

(b) Moneys in the Emergency Housing Account are appropriated continuously to the Housing and Community Services Department to carry out the provisions of ORS 458.650 (Disbursement of funds in Emergency Housing Account).

(c) Moneys in the Home Ownership Assistance Account are appropriated continuously to the Housing and Community Services Department to carry out the provisions of ORS 458.655 (Disbursement of moneys in Home Ownership Assistance Account).

(d) Moneys in the Farmworker Housing Development Account are appropriated continuously to the Housing and Community Services Department to carry out the provisions of ORS 458.660 (Disbursement of moneys in Farmworker Housing Development Account).

(4) Moneys deposited in the Oregon Housing Fund pursuant to subsection (5) of this section shall be credited to the Housing Development and Guarantee Account.

(5) Individuals and corporations, both for profit or nonprofit, may make monetary contributions to the Housing Development and Guarantee Account. [1991 c.740 §§3,8; 1995 c.174 §1; 2001 c.310 §§2,3]

1 Legislative Counsel Committee, CHAPTER 458—Housing and Community Services Programs; Individual Development Accounts, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors458.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information