Oregon House Bill 2373, introduced on January 13, 2025, aims to regulate the sale of timeshares in the state by establishing a licensing system for timeshare sales agents. The bill seeks to address concerns regarding consumer protection and the integrity of the timeshare market, which has faced scrutiny over fraudulent practices and unlicensed sales.

Key provisions of the bill stipulate that individuals must obtain a license from the Oregon Real Estate Agency to sell or offer timeshares. To qualify for a license, applicants must be at least 18 years old, complete a minimum of 14 hours of instruction covering ethics, relevant laws, and sales principles, and pass an approved examination. Additionally, applicants must disclose any criminal history related to theft or fraud and provide a detailed employment history.

The bill also includes measures for license renewal and stipulates that licenses will expire two years after issuance unless renewed. The agency is empowered to conduct criminal background checks, requiring fingerprints from applicants and those under investigation.

Debate surrounding HB 2373 has focused on the balance between consumer protection and the potential burden on legitimate sales agents. Supporters argue that the licensing requirements will enhance consumer trust and reduce fraudulent activities, while opponents express concerns about the costs and administrative hurdles for new agents entering the market.

The implications of this legislation are significant, as it could reshape the timeshare industry in Oregon by promoting ethical sales practices and safeguarding consumer interests. Experts suggest that if enacted, the bill may lead to a more transparent market, potentially increasing consumer confidence and participation in timeshare investments.

As the bill progresses through the legislative process, stakeholders from the real estate and tourism sectors are closely monitoring its developments, anticipating both challenges and opportunities that may arise from these new regulations.