Oregon 2025R1 Session Status: In Committee 1 D cosponsors

HB 2862 — 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.

Last action — In House Committee

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced January 27, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 16% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Digest: The Act would create a loan program to support small businesses. (Flesch Readability Score: 72.6). 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.

Bill Text

We don't have the full text on file for this bill yet.

Read HB 2862 on the official Oregon source →

Action History

  1. In House Committee

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 89 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (89)

89 members have not signed on to this bill.

Show all 89 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 2862 do?
Digest: The Act would create a loan program to support small businesses. (Flesch Readability Score: 72.6). 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.
Who sponsors HB 2862?
HB 2862 is sponsored by Paul Evans (Democrat).
What is the current status of HB 2862?
This bill is in committee in the House. Introduced January 27, 2025. It must pass committee before a floor vote.
Where can I track HB 2862?
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Last checked for changes 3 months ago · updated continuously

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