LOC News
Industrial Lands Bills Advance Out of Committee
HB 4042, which extends the state’s Industrial Site Readiness (RSIS) program and allocates $40 million to the Industrial Land Loan Fund, was voted unanimously out of the House Revenue Committee this week, and now moves to the Joint Committee on Ways and Means, where the state’s budget allocation decisions will be made.
SB 1526, which has the same extension for the RSIS program, as well as a number of technical changes to improve ease of administration, was voted unanimously out of the Senate Committee on Finance and Revenue and now awaits a vote on the Senate floor.
The sunset extension in this bill is a top priority for the LOC because the program expired in 2023, and no new cities can apply until it is extended. In addition, the LOC is requesting $40 million to capitalize the loan fund and provide cities the ability to receive help with the upfront infrastructure investments required to make industrial land ready.
Contact: Lindsay Tenes, Lobbyist – ltenes@orcities.org
Last Updated 3/1/24