Oregon Senate Bill 893

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 21 2025 - 25% progression
Action: 2025-01-21 - Referred to Finance and Revenue.
Pending: Senate Finance and Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Doubles the amount of money a person can put in a savings account each year for a first home purchase. (Flesch Readability Score: 72.3). Permits a person to open a first-time home buyer savings account until January 1, 2030, and doubles the annual contribution limits on the accounts. Permits a person other than the account holder to take a subtraction and exemption for contributions to the account if the account holder does not take the subtraction and exemption. Takes effect on the 91st day following adjournment sine die.

Relating to first-time home buyer savings accounts; prescribing an effective date.

Sen. Richard Anderson [R]

Date	Chamber	Action
2025-01-21	Senate	Referred to Finance and Revenue.
2025-01-21	Senate	Introduction and first reading. Referred to President's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB893
Text	https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/SB893/Introduced
Supplement	https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/85079