Chapter 470 Oregon Laws 2001

AN ACT

SB 5542

Relating to the financial administration of the Oregon Student Assistance Commission; appropriating money; limiting expenditures; and declaring an emergency.

Be It Enacted by the People of the State of Oregon:

SECTION 1. There is appropriated to the Oregon Student Assistance Commission, for the biennium beginning July 1, 2001, out of the General Fund, the following amounts:

(1) For financial aid payments to individuals and institutions, $32,767,340.

(2) For operations, $1,182,005.

SECTION 2. Notwithstanding any other law, the amount of $13,956,740 is established for the biennium beginning July 1, 2001, as the maximum limit for payment of expenses by the Oregon Student Assistance Commission from fees, moneys or other revenues, including Miscellaneous Receipts, but excluding federal funds and lottery moneys allocated from the Education Endowment Fund for opportunity grants and received by the commission.

SECTION 3. Notwithstanding any other law, the amount of $1,412,084 is established for the biennium beginning July 1, 2001, as the maximum limit for payment of expenses from federal funds collected or received by the Oregon Student Assistance Commission.

SECTION 4. In addition to and notwithstanding any other law, the amount of $5,151,298 is established for the biennium beginning July 1, 2001, as the maximum limit for payment of expenses from lottery moneys allocated from the Education Endowment Fund to the Oregon Student Assistance Commission for opportunity grants.

SECTION 5. Section 2 of this 2001 Act does not limit, affect or apply to expenditures to:

(1) Purchase defaulted loans from lenders;

(2) Reimburse the federal portion of collections on defaulted loans;

(3) Pay collection agency charges;

(4) Make disbursements of grants from private and special scholarship accounts as established by the Legislative Assembly;

(5) Make disbursements of educational benefits to individuals through the JOBS Plus Program, the Rural Health Services Program, the Oregon Nursing Loan Program and the higher education community service voucher program; and

(6) Make payments or transfers of any federal share of assets or recalled amounts.

SECTION 6. Notwithstanding any other law, all sections of this 2001 Act are subject to Oregon Department of Administrative Services rules related to allotting, controlling, and encumbering funds.

SECTION 7. This 2001 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2001 Act takes effect July 1, 2001.

Approved by the Governor June 19, 2001

Filed in the office of Secretary of State June 19, 2001

Effective date July 1, 2001

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