The bill, word for word.

As used in this Act:

• “Covered loss” means bodily injury, death, or property damage caused by the discharge of a firearm owned or possessed by a person subject to this Act. It includes accidental, negligent, intentional, and criminal discharge, by the owner or by any other person, including a person who obtained the firearm without permission, until the owner reports the theft or loss to police. It does not include a person’s injury or death from intentionally using a firearm against themselves, except as provided in section 11b.
• “Qualifying policy” means a homeowner’s, renter’s, or standalone liability policy that covers all covered losses.
• “Participating jurisdiction” means a city or county that has adopted an ordinance under section 2.
• “Pool” means the Firearm Victim Compensation Pool established in section 11.

Notwithstanding ORS 166.170, a city or county may adopt an ordinance requiring residents who own or possess a firearm in their residence to maintain a qualifying policy. The ordinance must conform to sections 3 through 8.

A qualifying policy must pay victims for all covered losses, including members of the insured’s own household, up to at least $250,000 per victim and $1,000,000 per occurrence. The Department of Consumer and Business Services may raise these minimums by rule. Any exclusion for intentional or criminal acts is void as to a victim, up to that minimum. An insurer that pays a claim arising from an intentional or criminal act may recover the amount paid from the person who committed it.

Insurers that write qualifying policies shall offer premium reductions for documented risk-reducing measures. These include a locked safe or container, trigger or cable locks, completion of a recognized firearm safety course, and the absence of minors in the home. The Department may adopt rules on how these discounts are documented.

A person complies by completing a state-designed attestation form listing the insurer’s name and the policy number. The form is signed under penalty of false swearing and kept with the firearm where it is stored. No filing with any government agency is required.

A person whose household income is below 200 percent of the federal poverty guidelines may claim a waiver on the attestation form. The waiver requires attaching proof of income. Victims of a loss caused by a waived owner’s firearm are paid by the pool under section 11.

This Act does not apply to:

• Sworn peace officers and members of the armed forces, for duty firearms
• Federally licensed firearm dealers, for inventory
• Antique firearms, as defined in federal law

A violation is a civil infraction only. The maximum fine is $250, paid into the pool. A first violation is dismissed if the person shows proof of coverage within 30 days. A firearm may not be seized, and a person may not be arrested, for a violation of this Act. A peace officer may ask for the attestation form only during a lawful contact that is already taking place.

Attestation forms are not public records. No state or local agency may compile a list of firearm owners from attestation forms or insurance data. Insurers may not share firearm-related policy information with government agencies except under a court order.

The Department shall report to the Legislative Assembly within three years, and every two years after that, on the availability and cost of qualifying policies, discount uptake, claims paid by insurers and by the pool, and the pool’s balance.

The Firearm Victim Compensation Pool is established in the Department of Consumer and Business Services. The pool pays victims of covered losses anywhere in Oregon, up to the section 3 minimum per victim, when no qualifying policy pays or a policy’s limit is exhausted. This includes losses caused by an uninsured or unidentified person, by a person holding a hardship waiver, or with a stolen firearm. The pool may recover what it pays from the person who caused the loss. The pool is funded only by the firearm market and the people responsible for firearm harm: the excise tax under section 12, a surcharge of up to 5 percent of the premium on each qualifying policy, set by the Department by rule and remitted by insurers, fines under section 8, amounts recovered from people who caused losses, and voluntary contributions. The pool pays its own administrative costs. No General Fund money may be appropriated to the pool, and its obligations are not a debt of the State.

The pool shall also sell qualifying policies to owners turned down by two insurers. To buy one, the owner must store every firearm in a locked safe or container and complete a recognized firearm safety course. Rates are risk-based and may be up to three times the average private-market rate. Any shortfall between these policies’ premiums and claims is paid from the excise tax and reported separately under section 10.

The pool shall keep a catastrophe reserve of at least 25 percent of the prior year’s revenue and may buy reinsurance. After a shooting that kills or injures three or more people, the pool shall pay emergency funeral, medical, and counseling costs within 14 days, before liability is settled. If claims from one event exceed the reserve and reinsurance, the pool pays emergency costs first and pays the remaining balance of each claim in installments from future revenue. The pool may borrow against its future revenue. Any such borrowing is repayable only from pool revenue and is not a debt or obligation of the State.

A family member or the estate of a person who died or was injured by intentionally using a firearm against themselves may petition the Department for payment from the pool. The Department shall hold a hearing on the petition. It may award up to the section 3 minimum if it finds any of the following: the person was a minor; the firearm belonged to someone else and was not stored as section 4 describes; or the person was barred by law from possessing firearms. Awards are paid by the pool, not by private policies. Hearings are confidential, and hearing records are exempt from public disclosure.

An excise tax of 6.5 percent is imposed on retail sales of firearms, firearm parts, and ammunition in Oregon, paid by the dealer or manufacturer making the sale. Revenue from the tax and from fines under section 8 is dedicated to the pool. Firearm manufacturers may also make voluntary contributions.

Sections 11 to 11b take effect on passage. The Department shall publish an initial rate study for qualifying policies within 12 months. An ordinance under section 2 may not be enforced until 6 months after the rate study is published.