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SB 893 Oregon Senate · 2025 Regular Session

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

Summary
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.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill creates tax exemption/subtraction for homebuyer savings contributions, providing tax relief for first-time buyers and doubling contribution limits.95% confidence ✓ HousingSupports HousingDoubles annual contribution limits for first-time home buyer savings accounts, directly increasing accessibility to home ownership and supporting affordable housing goals.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 21, 2025 Last action Jun 28, 2025
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
3
Key actions
1
Committee
2
Jun 28, 2025
Upper · Passed
In committee upon adjournment.
upper
Jan 21, 2025
Committee
Referred to Finance and Revenue.
upper
Jan 21, 2025
Introduced
Introduction and first reading. Referred to President's desk.
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Dick Anderson
Dick Anderson
RRepublican
OR
5