Update: 4/14/23
SB 611, the 2023 Oregon rent control bill has passed out of the Senate Housing Committee and is sitting on the President’s desk. As of right now, there are not the votes to pass this bill, but that could certainly change.
The -4 amendment is 5% + CPI with a cap of 10%. It is certainly accurate to say that the -4 amendment is better than the initial bill. However, most economists agree that any rent control is bad public economic policy. There remains a lot of time before sine die and the discussions continue.
SB 611 - "Rent Control 2.0" - which adds new provisions to rent control that will further inhibit investment in Oregon. Establishes a 3% + CPI cap on rent increases, triples the relocation assistance payment, & cuts down 15-year exemption for new construction to 3 years.
OPPOSED by member Multi-Family Northwest.
For more, please see original post on this legislation.
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