The House Committee on Economic Development, Small Business and Trade voted to move House Bill 2350 to the floor with a “do pass” recommendation and to refer the bill to the Joint Committee on Ways and Means by prior reference.

HB 2350 directs the Oregon Business Development Department (OBDD) to develop a program to award financial assistance to support the retention or expansion of eligible small businesses in the state. The measure, as described to the committee, would define “business development projects” as strategic investments that support retention or expansion of eligible small businesses, establish a Small Business Sustainability Fund, and appropriate money from that fund for OBDD to carry out the program.

Chair Winn, presiding at the committee, described the bill as targeted support meant to “incentivize Oregon businesses to take the next step when there's a small gap in need of capital.” The chair emphasized the intent was not to replace traditional financing such as commercial bank loans or personal investments: “It's not to take the place of traditional financing, such as commercial banking or personal investment,” the chair said during the work session.

A staff presenter summarized the bill for members, noting the measure’s definition of eligible small businesses includes traded‑sector firms that derive most sales outside Oregon or businesses demonstrating regional economic importance. The presenter told the committee there is a fiscal impact but no revenue impact as reported in the bill summary.

Representative (mover not specified in the transcript) moved HB 2350 to the floor; the clerk called the roll and eight committee members recorded “aye” votes in the sequence captured in the transcript. The motion passed and the chair said she would carry the bill.

Votes at the roll call recorded in the transcript: Representative Dobson — Aye; Representative Lively — Aye; Representative Osborne — Aye; Representative Scarlato — Aye; Representative Watanabe — Aye; Representative Yonkers — Aye; Vice President Schulz — Aye; Chair Winn — Aye.

The committee’s referral to Ways and Means means the appropriation and program design details will be considered in the budgetary committee. The bill text, administrative rules and OBDD’s proposed implementation plan will be considered at that stage.

Next steps: HB 2350 will appear on the House floor calendar if reported out of Ways and Means; the transcript records committee action only.