Today, members of the Senate Committee on Housing and Development heard testimony for Senate Bill 829. Introduced by Governor Tina Kotek, the bill would provide financial relief for affordable housing and shelter providers at risk of shuttering their operations due to dramatic insurance rate hikes. The bill includes a total investment of $5 million.

“Too many Oregonians are still sleeping outside. We cannot afford to take our foot off the pedal or lose a single bed or housing unit we have fought for,” Governor Kotek said. “The providers who are making a difference on the ground need our continued focus on solving the crisis on our streets. Senate Bill 829 follows through on that promise and lays the groundwork for long-term solutions.”

Affordable housing providers and shelters operate in an unpredictable market with unique risks. They face large premium increases that are often unsustainable for providers, causing them to cut essential services and jeopardizing the stability for Oregonians who rely on them. The Governor’s bill also provides immediate relief while organizations search for more affordable insurance options.

Senate Bill 829 also takes a forward-looking approach by including a study on long-term solutions for addressing the insurance challenges that housing providers face. To help providers get insurance coverage faster and incentivize a more diverse, competitive insurance market, Senate Bill 829 also creates an export list for surplus lines carriers.

Alongside the Governor’s permanent shelter program (House Bill 3644) and her recommended investment of $933 million for shelter, rehousing, and prevention, this proposal exemplifies the Governor’s resolve to create an Oregon where everyone has a safe, affordable place to call home

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