1. (1) As used in this section, “affordable housing” means affordable housing as defined in ORS 197A.445 or publicly supported housing as defined in ORS 456.766.

2. (2)

   1. (a) To facilitate the development of affordable housing in this state, the Public Utility Commission may allow a public utility to sell, or to convey at below market price or as a gift, the public utility’s interest in real property for the purpose of the real property being used for the development of affordable housing.
   2. (b) The instrument that conveys, or contracts to convey, the public utility’s interest in the real property must include an affordable housing covenant as provided in ORS 456.270 to 456.295.
3. (3) A public utility may not recover costs from customers for selling, or conveying at below market price or as a gift, the public utility’s interest in real property under this section.

Note: 757.482 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 757 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

[2023 c.223 §29]