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City of Portland

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6.08.130 Dedication of Revenue.

A.  The Bureau of Development Services may retain up to 4 percent of the taxes collected for payment towards the Bureau’s administrative expenses related to collection and distribution of the tax.

B.  For the tax imposed on residential improvements, the net revenues will be distributed as follows:

1.  Fifteen percent of net revenue will be remitted to the Oregon Department of Housing and Community Services to fund home ownership programs.

2.  Fifty percent of net revenue will be transferred to the Portland Housing Bureau Inclusionary Housing Fund to fund finance-based incentives for programs that require affordable housing.

3.  Thirty-five percent of net revenue will be transferred to the Housing Bureau Inclusionary Housing Fund to support the production and preservation of affordable housing units at and below 60 percent median family income.

C.  For the tax imposed on commercial improvements, 100 percent of net revenue will be distributed to the Housing Bureau Inclusionary Housing Fund to support the production and preservation of affordable housing units at and below 60 percent median family income.