Oregon · 2025 Regular Session · Bill
HB 2862: Relating to interest-only loans to assist small businesses to increase employment.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 2862 is a bill introduced in the Oregon House on January 13, 2025. According to its official title, it concerns: Relating to interest-only loans to assist small businesses to increase employment. Primary sponsor: Paul Evans (Democratic). Most recent recorded action (June 28, 2025): In committee upon adjournment.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Establishes the Local Markets Small Business Capital Loan Program to be administered by the Oregon Business Development Department for the purpose of making interest-only loans to allow businesses with not more than 50 employees to hire new employees. Requires the payment of principal plus penalty for failure to hire and retain employees for at least two years. Establishes the Local Markets Small Business Capital Loan Fund for the purpose of administering the loan program. Appropriates moneys to the department for the purpose of administering the loan program and loan fund.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Paul Evans | Primary sponsor | Democratic | House | 20 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- In committee upon adjournment.
- Referred to Economic Development, Small Business, and Trade with subsequent referral to Ways and Means.
- First reading. Referred to Speaker's desk.