(2) ORS 286A.095 applies for purposes of determining limitations under this section.
(3) The Legislative Assembly finds that:
(a) Pursuant to ORS 456.515 to 456.725, the Housing and Community Services Department has served as the sole department or instrumentality of the state authorized to coordinate and establish statewide priorities for housing programs and to provide planning and technical assistance to sponsors of housing for persons and families of lower income throughout the state.
(b) The department’s activities have been instrumental in alleviating the serious shortage of decent, safe and sanitary housing for lower income persons.
(c) Continuation of the department’s programs for financing owner-occupied residential housing to the fullest extent practicable under the Internal Revenue Code is a matter of paramount concern to the state.
(4) The department shall designate areas of chronic economic distress within the state for the purpose of issuing qualified mortgage bonds as described in section 143 of the Internal Revenue Code. [1979 c.327 §11 (enacted in lieu of 456.660); 1981 c.504 §8; 1981 c.691 §3; 1985 c.205 §1; 1995 c.79 §258; 1999 c.698 §2; 2001 c.114 §51; 2005 c.643 §2; 2007 c.783 §201]
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