A bill to amend the Mortgage Subsidy Bond Tax Act of 1980 to exempt from the coverage of such Act certain general obligation veterans' mortgage bond issues of the State of Oregon.

Amends the Mortgage Subsidy Bond Tax Act of 1980 to permit the issuance of tax-exempt mortgage revenue bonds, not in conformity with the requirements of such Act, for financing for qualifying veterans under the direction of the Oregon Department of Veterans Affairs.