ORS 456.605: Mortgage credit certificate program.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
(1) The Housing and Community Services Department may establish and implement mortgage credit certificate programs to make available income tax credits for indebtedness incurred on acquisition, improvement or rehabilitation of a principal residence. Under this program, the department may issue tax credit certificates to persons and families with incomes equal to or lower than the median family income limits established by the department. (2) If the department elects to issue federal income tax credit certificates, the director shall certify that each mortgage credit certificate program meets the requirements of Section 25 of the Internal Revenue Code as amended and in effect on December 31, 1996. The department shall make the determination of the amount of qualified mortgage bonds that will not be issued so as to allow the issuance of mortgage credit certificates. (3) If the Director of the Housing and Community Services Department determines that the mortgage credit certificate program is not effective with the median family income limitation established in subsection (1) of this section, the director may issue tax credit certificates to persons and families with incomes up to a percent of median family income determined appropriate by the Emergency Board, if the person or families otherwise qualify for the program. [1985 c.501 §2; 1995 c.556 §44; 1997 c.839 §67; 2023 c.416 §2] (Rent Guarantee Program)
Administrative rules citing this section
- OAR 813-002-0005: Temporary rule language in effect until 01/08/2027. Purpose and Objectives — authority
- OAR 813-002-0010: Definitions — implements
- OAR 813-002-0010: Definitions — authority
- OAR 813-002-0025: Funding Applications — implements
- OAR 813-002-0025: Funding Applications — authority
- OAR 813-002-0030: Technical Advisory — implements
- OAR 813-002-0030: Technical Advisory — authority
- OAR 813-002-0045: Protests and Judicial Review of Funding Decisions — implements
- OAR 813-002-0045: Protests and Judicial Review of Funding Decisions — authority
- OAR 813-002-0055: Fees and Charges — implements
- OAR 813-002-0055: Fees and Charges — authority
- OAR 813-005-0005: General Definitions — implements
- OAR 813-005-0005: General Definitions — authority
- OAR 813-005-0025: Protest Process — implements
- OAR 813-010-0021: Form of Loan Assistance — implements
- OAR 813-010-0720: Disposal of Department-Owned Projects — authority
- OAR 813-010-0740: Waiver — authority
- OAR 813-012-0180: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Waiver — authority
- OAR 813-015-0001: General Purpose — implements
- OAR 813-015-0001: General Purpose — authority
- OAR 813-015-0006: Definitions — implements
- OAR 813-015-0006: Definitions — authority
- OAR 813-015-0011: Eligibility for Funding — implements
- OAR 813-015-0011: Eligibility for Funding — authority
- OAR 813-015-0016: Availability and Source of Funds — implements
- OAR 813-015-0016: Availability and Source of Funds — authority
- OAR 813-015-0021: Program Loan Terms — implements
- OAR 813-015-0021: Program Loan Terms — authority
- OAR 813-015-0026: Loan Security — implements
- OAR 813-015-0026: Loan Security — authority
- OAR 813-015-0031: Application Requirements — implements
- OAR 813-015-0031: Application Requirements — authority
- OAR 813-015-0035: Application Review and Processing Procedures — implements
- OAR 813-015-0035: Application Review and Processing Procedures — authority
- OAR 813-015-0040: Transfer of Ownership — implements
- OAR 813-015-0040: Transfer of Ownership — authority
- OAR 813-015-0045: Equal Opportunity — implements
- OAR 813-015-0045: Equal Opportunity — authority
- OAR 813-015-0050: Waiver — implements
- OAR 813-015-0050: Waiver — authority
- OAR 813-030-0014: Temporary rule language in effect until 01/08/2027. Elderly and Disabled Housing Designation — implements
- OAR 813-030-0020: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Form of Loan Assistance — implements
- OAR 813-030-0025: Temporary rule language in effect until 01/08/2027. Loan Security — implements
- OAR 813-030-0032: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Manufactured Dwelling Park Projects — implements
- OAR 813-030-0035: Temporary rule language in effect until 01/08/2027. Approved Housing Borrowers — implements
- OAR 813-030-0040: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Processing Procedures — implements
- OAR 813-030-0044: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Loan Closing — implements
- OAR 813-030-0066: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Transfer of Ownership — implements
- OAR 813-030-0068: Temporary rule language in effect until 01/08/2027. Disposal of Department-Owned Projects — implements
- OAR 813-030-0070: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Waiver — authority
- OAR 813-035-0021: Financing Commitments and Charges — implements
- OAR 813-035-0070: Waiver — authority
- OAR 813-042-0000: Purpose and Objectives — authority
- OAR 813-042-0010: Definitions — authority
- OAR 813-042-0020: Eligibility for Housing Development Grant Program Funds — authority
- OAR 813-042-0030: Distribution of Funds — authority
- OAR 813-042-0040: Application Procedure and Requirements — authority
- OAR 813-042-0050: Criteria for Funding — authority
- OAR 813-042-0060: Application Review — authority
- OAR 813-042-0070: Charges — authority
- OAR 813-042-0080: General Administrative and Monitoring Requirements — authority
- OAR 813-042-0090: Remedies for Noncompliance — authority
- OAR 813-042-0100: Sanctions — authority
- OAR 813-042-0110: Waiver — authority
- OAR 813-045-0005: General Purpose — implements
- OAR 813-045-0010: Definitions — implements
- OAR 813-045-0015: Eligibility for Housing Development Account Funds — implements
- OAR 813-045-0020: Application Procedure — implements
- OAR 813-045-0025: Application Review — implements
- OAR 813-045-0030: Form of Assistance — implements
- OAR 813-045-0035: Waiver for Other Sources — implements
- OAR 813-055-0040: Application Procedure and Requirements — implements
- OAR 813-055-0085: Charges — implements
- OAR 813-060-0036: Temporarily suspended until 01/08/2027. This rule language is not currently in effect. Interim Loans — implements
- OAR 813-060-0070: Waiver — authority
- OAR 813-080-0005: Purpose and Objectives — implements
- OAR 813-080-0005: Purpose and Objectives — authority
- OAR 813-080-0010: Definitions — implements
- OAR 813-080-0015: Tax Credit — implements
- OAR 813-080-0020: Public Notice Requirement — implements
- OAR 813-080-0025: Targeted Area Requirements — implements
- OAR 813-080-0030: Allocation of Mortgage Credit Certificates — implements
- OAR 813-080-0030: Allocation of Mortgage Credit Certificates — authority
- OAR 813-080-0035: Mortgage Credit Certificate Lender — implements
- OAR 813-080-0040: Borrower Eligibility — implements
- OAR 813-080-0045: Eligible Single-Family Residence — implements
- OAR 813-080-0050: Lender Reporting and Record Keeping — implements
- OAR 813-080-0055: Revocation — implements
- OAR 813-080-0060: Penalties for Misstatement — implements
- OAR 813-090-0015: Qualified Allocation Plan; Allocation of Credit Authority — authority
- OAR 813-090-0031: Application Requests and Charges — authority
- OAR 813-090-0036: Procedures for Allocation of Low-Income Housing Tax Credit (the “Carryover Allocation”) — authority
- OAR 813-090-0039: Reservation and Extended Use Agreement; Low-Income Commitment — authority
- OAR 813-090-0065: Representations — authority
- OAR 813-110-0011: Oregon Affordable Housing Tax Credit Manual — authority
- OAR 813-110-0013: Loan Requirements — authority
- OAR 813-110-0015: Application Requirements — authority
- OAR 813-110-0020: Application Review — authority
- OAR 813-110-0021: Reservation in Lieu of Certification — authority
- OAR 813-110-0022: Set-Aside — authority
- OAR 813-110-0025: Certification of Eligible Projects — authority
- OAR 813-110-0026: Reservations, Certifications and Other Commitments Subject to Housing Stability Council Approval — authority
- OAR 813-110-0027: Certification Request by Lending Institution — authority
- OAR 813-110-0029: Supplemental Application Charge — authority
- OAR 813-110-0030: Monitoring and Reporting Requirements — authority
- OAR 813-110-0031: Charges — authority
- OAR 813-110-0035: Community Rehabilitation Project Certification — authority
- OAR 813-110-0037: Use of Project; Transfer of Title — authority
- OAR 813-110-0050: Waiver — authority
- OAR 813-135-0010: Purpose — authority
- OAR 813-135-0020: Definitions — authority
- OAR 813-135-0025: Local Innovation and Fast Track Homeownership Program Manual — authority
- OAR 813-135-0026: Local Innovation and Fast Track Rental Program Manual — authority
- OAR 813-135-0030: Eligibility — authority
- OAR 813-135-0040: Allocation of Bond Proceeds — authority
- OAR 813-135-0050: Application Requests and Charges — authority
- OAR 813-206-0050: Fund Uses — authority
- OAR 813-206-0060: General Administrative and Monitoring Requirements — authority
- OAR 813-261-0000: Purpose and Objectives — implements
- OAR 813-261-0010: Definitions — implements
- OAR 813-261-0020: Program Guidance — implements
- OAR 813-261-0030: Administration — implements
- OAR 813-261-0040: Use of Funds — implements
- OAR 813-350-0010: Definitions — implements
- OAR 813-350-0020: Source of Guarantee Funding — implements
- OAR 813-350-0030: Eligibility for Guarantees — implements
- OAR 813-350-0040: Application Procedure and Requirements — implements
- OAR 813-350-0050: Criteria for Guarantees — implements
- OAR 813-350-0060: Fees — implements
- OAR 813-350-0070: Waiver — implements
This rule cites
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Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors456.html