Tracy Loew

Statesman Journal

Oregon home sellers will have to add “seismic risk” to the list of disclosures they must make to potential buyers under legislation heading to the Governor for signature.

Oregon has a 40 percent chance of experiencing a 9.0 magnitude-plus Cascadia subduction zone earthquake in the next 50 years, according to the state Office of Emergency Management.

“When the ‘big one’ comes, if your house isn’t bolted to its foundation, it will slide one way or the other, break the natural gas lines, electric cutoff, cause fires. It’s a real danger,” said Sen. Rod Monroe, D-Portland.

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House Bill 2140 requires property sellers to tell buyers whether the home was built before 1974, and if so, whether the house has been bolted to its foundation.

Oregon began requiring homes to be bolted to foundations in 1974.

“There’s no remedy required,” Monroe said. “It’s just a matter of answering those two questions.”

The city of Portland estimates it has at least 100,000 homes that are not bolted down.

The city of Salem doesn’t track that issue, spokesman Kenny Larson said.

The bill passed the House March 29 and the Senate on Tuesday.

Legislators are considering two other bills addressing seismic safety.

House Bill 3241 would allow cities or counties to provide homeowners with loans for energy improvements or seismic rehabilitation. The loans would be repaid through property assessments, paid in addition to property taxes.

It passed the House April 26 and is in the Senate Rules Committee.

Senate Bill 311 would allow cities or counties to provide up to a 15-year property tax exemption to owners of commercial, industrial or multifamily buildings built before 1993 for seismic retrofitting.

It passed the Senate April 18 and is in the House Revenue Committee.

tloew@statesmanjournal.com, 503-399-6779 or follow at Twitter.com/Tracy_Loew

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