Owners must give a 365 day notice to the park residents to close a park.

Regardless of the value of a resident’s home, each resident will receive compensation of 5,000-9,000, depending on its size, when a park closes.  This compensation is NOT taxable state income.

Half of the compensation must be given to residents up-front by the landlord, and the other half must be paid after the resident has moved.  The resident is entitled to this compensation whether or not they decide to move their home or leave it behind.

These statutes apply to both park conversions AND closures.

Residents no longer are required to pay a disposal fee for their homes if they leave them behind.

There is no penalty for leaving early.

After the 365 day notice, a landlord CANNOT raise the rent.

Eminent domain is still possible, as is closure for health and safety reasons.  Both cases require notice to the resident.

Oregon Housing and Community Services (OHCS) must be notified immediately of any planned closure.

Out-of-park owners and mortgage holders must also be notified.

OHCS must prepare a sample closure notice for use by park owners.

Some of the $5.00 that residents pay to OHCS with their property taxes will be used for counseling residents of closing parks.

Cities and counties will not be allowed to discriminate against re-siting of older homes displaced by closures.

The state will allow a one time refundable $5,000 tax credit to every tenant regardless of income or the value of his house if his park is closed.

Landlords who sell parks to the residents or to non—profits will have their Oregon capital gains taxes forgiven.

This law preempts all local ordinances except for those in existence before July 1, 2007, protecting the existing ordinances of the cities of Wilsonville, Bend, Eugene, Oregon City, Forest Grove, and the county of Clackamas.

The law state tax credit is retroactive to January 1, 2007.  The rest of HB2735 is effective September 27, 2007.