71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
HA to A-Eng. HB 3968 (A to RC)
LC 4172/HB 3968-A9
HOUSE AMENDMENTS TO
A-ENGROSSED HOUSE BILL 3968
(INCLUDING AMENDMENTS TO RESOLVE CONFLICTS)
By JOINT COMMITTEE ON WAYS AND MEANS
July 6
On page 1 of the printed A-engrossed bill, line 3, after '
293.761,' insert '348.696,' and after '348.707' insert ' and
section 19, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill
102), sections 1 and 5, chapter ___, Oregon Laws 2001 (Enrolled
Senate Bill 273), and section 32, chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 5533)'.
In line 4, delete '; appropriating money' and insert 'and
section 11, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill
101), and sections 10, 12, 15, 16 and 17, chapter ___, Oregon
Laws 2001 (Enrolled Senate Bill 102); limiting expenditures'.
On page 5, delete lines 25 through 27 and insert:
' { + NOTE: + } Section 10 was deleted by amendment.
Subsequent sections were not renumbered.'.
On page 14, after line 6, insert:
' { + SECTION 15a. + } { + If Senate Bill 102 becomes law,
section 15 of this 2001 Act (amending ORS 293.731) is repealed
and ORS 293.731, as amended by section 9, chapter ___, Oregon
Laws 2001 (Enrolled Senate Bill 102), is amended to read: + }
' 293.731. Subject to the objective set forth in ORS 293.721
and the standards set forth in ORS 293.726, the Oregon Investment
Council shall formulate policies for the investment and
reinvestment of moneys in the investment funds and the
acquisition, retention, management and disposition of investments
of the investment funds. The council, from time to time, shall
review those policies and make changes therein as it considers
necessary or desirable. The council may formulate separate
policies for any fund included in the investment funds. This
section does not apply to the { - Oregon Resource and
Technology Development Account and to the Oregon Resource and
Technology Development Account Board, to the - } Oregon Growth
Account and to the Oregon Growth Account Board, or to the Higher
Education Technology Transfer Account and the Higher Education
Technology Transfer Account Board.
' { + SECTION 15b. + } { + If Senate Bill 102 becomes law
and the amendment to section 6, Article XI of the Oregon
Constitution, proposed by Senate Joint Resolution 17 (2001) is
approved by the people at a special election held throughout this
state on the same date as the next biennial primary election,
section 10, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill
102) (amending ORS 293.731), is repealed and ORS 293.731, as
amended by section 9, chapter ___, Oregon Laws 2001 (Enrolled
Senate Bill 102), and section 15a of this 2001 Act, is amended on
July 1, 2011, to read: + }
' 293.731. Subject to the objective set forth in ORS 293.721
and the standards set forth in ORS 293.726, the Oregon Investment
Council shall formulate policies for the investment and
reinvestment of moneys in the investment funds and the
acquisition, retention, management and disposition of investments
of the investment funds. The council, from time to time, shall
review those policies and make changes therein as it considers
necessary or desirable. The council may formulate separate
policies for any fund included in the investment funds. This
section does not apply to the Oregon Growth Account { - and - }
{ + or + } to the Oregon Growth Account Board { - , or to the
Higher Education Technology Transfer Account and the Higher
Education Technology Transfer Account Board - } .'.
After line 15, insert:
' { + SECTION 16a. + } { + If Senate Bill 102 becomes law,
section 16 of this 2001 Act (amending ORS 293.761) is repealed
and ORS 293.761, as amended by section 11, chapter ___, Oregon
Laws 2001 (Enrolled Senate Bill 102), is amended to read: + }
' 293.761. The investment officer shall report quarterly to the
officer or body having control and administration of each fund
included in the investment funds the changes in investments made
during the preceding month for the fund. If requested by the
officer or body, the investment officer shall furnish to the
officer or body the details on the investment transactions for
any fund. The investment officer shall separately identify
investments held in the Oregon Growth Account established in ORS
348.702, the Oregon Resource and Technology Development
{ - Account - } { + Subaccount + } established in { - ORS
284.655 - } { + section 7 of this 2001 Act + } and the Higher
Education Technology Transfer Account created in section 2 { + ,
chapter ___, Oregon Laws 2001 (Enrolled Senate Bill 102), + }
{ - of this 2001 Act - } as part of the report on the Education
Endowment Fund required by this section.
' { + SECTION 16b. + } { + If Senate Bill 102 becomes law
and the amendment to section 6, Article XI of the Oregon
Constitution, proposed by Senate Joint Resolution 17 (2001) is
approved by the people at a special election held throughout this
state on the same date as the next biennial primary election,
section 12, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill
102) (amending ORS 293.761), is repealed and ORS 293.761, as
amended by section 11, chapter ___, Oregon Laws 2001 (Enrolled
Senate Bill 102), and section 16a of this 2001 Act, is amended on
July 1, 2011, to read: + }
' 293.761. The investment officer shall report quarterly to the
officer or body having control and administration of each fund
included in the investment funds the changes in investments made
during the preceding month for the fund. If requested by the
officer or body, the investment officer shall furnish to the
officer or body the details on the investment transactions for
any fund. The investment officer shall separately identify
investments held in the Oregon Growth Account established in ORS
348.702 { - , - } { + and + } the Oregon Resource and
Technology Development Subaccount established in section 7 of
this 2001 Act { - and the Higher Education Technology Transfer
Account created in section 2, chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 102) - } as part of the report on the
Education Endowment Fund required by this section.'.
On page 15, after line 22, insert:
' { + SECTION 23. + } If Senate Bill 273 becomes law and
Senate Bill 101 does not become law, section 1, chapter ___,
Oregon Laws 2001 (Enrolled Senate Bill 273), is amended to read:
' { + Sec. 1. + } The Legislative Assembly finds that:
' (1) A council on knowledge and economic development is
necessary to provide for meaningful, ongoing collaboration among
Oregon's public and private institutions of higher education,
economic development leadership and the private sector in the
promotion of knowledge based economic development in Oregon.
' (2) A council would act as an early warning system for
emerging policy issues and opportunities in knowledge based
economic development for the higher education governing boards,
the Oregon Economic and Community Development Commission, the
Oregon Growth Account Board, { - the Oregon Resource and
Technology Development Account Board, - } the Legislative
Assembly and the Governor.
' (3) A council would advise such agencies and bodies on
issues, plans and the necessary infrastructure for improvement in
the areas of technology development, transfer and
commercialization as generated by the collaboration between the
public and private sectors.
' { + SECTION 23a. + } If both Senate Bill 273 and Senate
Bill 101 become law, section 1, chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 273), is amended to read:
' { + Sec. 1. + } The Legislative Assembly finds that:
' (1) A council on knowledge and economic development is
necessary to provide for meaningful, ongoing collaboration among
Oregon's public and private institutions of higher education,
economic development leadership and the private sector in the
promotion of knowledge based economic development in Oregon.
' (2) A council would act as an early warning system for
emerging policy issues and opportunities in knowledge based
economic development for the higher education governing boards,
the Oregon Economic and Community Development Commission, the
Oregon Growth Account Board, { - the Oregon Resource and
Technology Development Account Board, - } { + the Higher
Education Technology Transfer Fund Board, + } the Legislative
Assembly and the Governor.
' (3) A council would advise such agencies and bodies on
issues, plans and the necessary infrastructure for improvement in
the areas of technology development, transfer and
commercialization as generated by the collaboration between the
public and private sectors.
' { + SECTION 24. + } If Senate Bill 273 becomes law and
Senate Bill 101 does not become law, section 5, chapter ___,
Oregon Laws 2001 (Enrolled Senate Bill 273), is amended to read:
' { + Sec. 5. + } (1) The Oregon Council for Knowledge and
Economic Development shall advise the Governor, the Legislative
Assembly, the State Board of Higher Education, the State Board of
Education, the Oregon Economic and Community Development
Commission { - , - } { + and + } the Oregon Growth Account
Board { - and the Oregon Resource and Technology Development
Board - } in matters pertaining to knowledge based economic
development in Oregon and the collaboration of Oregon's higher
education, business, industry and capital resources to promote
the following:
' (a) High quality research and development;
' (b) Private-public models for sharing profit and intellectual
property;
' (c) The transfer and commercialization of technology and
knowledge from higher education to the private sector;
' (d) A technologically skilled workforce; and
' (e) Capital resources for investment in and commercialization
of technology developed by higher education or other research
institutions, including but not limited to national labs and
health care related research entities.
' (2) Prior to December 31, 2002, the council shall provide a
progress report to the Governor and to the appropriate interim
legislative committees regarding the status of the council's
mission. The progress report shall also provide recommendations
about:
' (a) Increasing high quality research and development in this
state;
' (b) Developing successful models for intellectual property
and profit-sharing;
' (c) Increasing the transfer and commercialization of
technology and knowledge;
' (d) Providing sufficient capital for investment in and
commercialization of technology developed by higher education
institutions or other research institutions, including but not
limited to public, private and university foundations;
' (e) Promoting the development of a technologically skilled
workforce;
' (f) Reviewing the performance of existing programs that
support technology transfer and commercialization in Oregon,
including but not limited to utilization of federal programs and
funding;
' (g) Reviewing the performance and utilization of
philanthropic programs and funding that support technology and
commercialization in Oregon, including but not limited to public,
private and university foundations; and
' (h) Continuing the council past its sunset date.
' (3) In addition to the report required by subsection (2) of
this section, the council may also provide reports to the
Governor and to the Legislative Assembly as the council
determines necessary.
' (4) All legislation recommended by official action of the
council must indicate that it is introduced at the request of the
council. Such legislation shall be prepared in time for
presession filing pursuant to ORS 171.130.
' { + SECTION 25. + } If both Senate Bill 273 and Senate Bill
101 become law, section 5, chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 273), as amended by section 14, chapter
___, Oregon Laws 2001 (Enrolled Senate Bill 101), is amended to
read:
' { + Sec. 5. + } (1) The Oregon Council for Knowledge and
Economic Development shall advise the Governor, the Legislative
Assembly, the State Board of Higher Education, the State Board of
Education, the Oregon Economic and Community Development
Commission, the Oregon Growth Account Board { - , - } { +
and + } the Higher Education Technology Transfer Fund Board
{ - and the Oregon Resource and Technology Development Board - }
in matters pertaining to knowledge based economic development in
Oregon and the collaboration of Oregon's higher education,
business, industry and capital resources to promote the
following:
' (a) High quality research and development;
' (b) Private-public models for sharing profit and intellectual
property;
' (c) The transfer and commercialization of technology and
knowledge from higher education to the private sector;
' (d) A technologically skilled workforce; and
' (e) Capital resources for investment in and commercialization
of technology developed by higher education or other research
institutions, including but not limited to national labs and
health care related research entities.
' (2) Prior to December 31, 2002, the council shall provide a
progress report to the Governor and to the appropriate interim
legislative committees regarding the status of the council's
mission. The progress report shall also provide recommendations
about:
' (a) Increasing high quality research and development in this
state;
' (b) Developing successful models for intellectual property
and profit-sharing;
' (c) Increasing the transfer and commercialization of
technology and knowledge;
' (d) Providing sufficient capital for investment in and
commercialization of technology developed by higher education
institutions or other research institutions, including but not
limited to public, private and university foundations;
' (e) Promoting the development of a technologically skilled
workforce;
' (f) Reviewing the performance of existing programs that
support technology transfer and commercialization in Oregon,
including but not limited to utilization of federal programs and
funding;
' (g) Reviewing the performance and utilization of
philanthropic programs and funding that support technology and
commercialization in Oregon, including but not limited to public,
private and university foundations; and
' (h) Continuing the council past its sunset date.
' (3) In addition to the report required by subsection (2) of
this section, the council may also provide reports to the
Governor and to the Legislative Assembly as the council
determines necessary.
' (4) All legislation recommended by official action of the
council must indicate that it is introduced at the request of the
council. Such legislation shall be prepared in time for
presession filing pursuant to ORS 171.130.
' { + SECTION 26. + } { + If Senate Bill 101 becomes law and
Senate Bill 102 does not become law, section 11, chapter ___,
Oregon Laws 2001 (Enrolled Senate Bill 101) (amending ORS
348.696), is repealed and ORS 348.696, as amended by sections 13
and 14, chapter 1070, Oregon Laws 1999, and section 12,
chapter ___, Oregon Laws 2001 (Enrolled Senate Bill 101), is
amended to read: + }
' 348.696. The Education Endowment Fund is established separate
and distinct from the General Fund. Moneys in the fund shall be
invested as provided in ORS 293.701 to 293.790. All declared
earnings on moneys in the fund shall be transferred and
appropriated continuously as follows:
' (1) All declared earnings from the Oregon Growth Account
{ - and the Oregon Resource and Technology Development
Account - } to the Higher Education Technology Transfer Fund
established in section 2 { + , chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 101) + } { - of this 2001 Act - } ;
' (2) 75 percent of all declared earnings not described in
subsection (1) of this section to the Oregon Education Fund
established by ORS 348.716; and
' (3) 25 percent of all declared earnings not described in
subsection (1) of this section to the Oregon Student Assistance
Commission for the Oregon Opportunity Grant program under ORS
348.260.
' { + SECTION 27. + } { + If both Senate Bill 101 and Senate
Bill 102 become law, section 11, chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 101) (amending ORS 348.696), and sections
15 and 16, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill
102) (amending ORS 348.696), are repealed and ORS 348.696, as
amended by sections 13 and 14, chapter 1070, Oregon Laws 1999,
and section 12, chapter ___, Oregon Laws 2001 (Enrolled Senate
Bill 101), is amended to read: + }
' 348.696. The Education Endowment Fund is established separate
and distinct from the General Fund. Moneys in the fund shall be
invested as provided in ORS 293.701 to 293.790. All declared
earnings on moneys in the fund shall be transferred and
appropriated continuously as follows:
' (1) All declared earnings from the Oregon Growth Account
{ - and the Oregon Resource and Technology Development
Account - } to the Higher Education Technology Transfer Fund
established in section 2 { + , chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 101) + } { - of this 2001 Act - } ;
' { + (2) All declared earnings from the Higher Education
Technology Transfer Account to the Department of Higher
Education; + }
' { - (2) - } { + (3) + } 75 percent of all declared
earnings not described in subsection (1) { + or (2) + } of this
section to the Oregon Education Fund established by ORS 348.716;
and
' { - (3) - } { + (4) + } 25 percent of all declared
earnings not described in subsection (1) { + or (2) + } of this
section to the Oregon Student Assistance Commission for the
Oregon Opportunity Grant program under ORS 348.260.
' { + SECTION 28. + } { + If both Senate Bill 101 and Senate
Bill 102 become law and the amendment to section 6, Article XI of
the Oregon Constitution, proposed by Senate Joint Resolution 17
(2001) is approved by the people at a special election held
throughout this state on the same date as the next biennial
primary election, section 17, chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 102) (amending ORS 348.696), is repealed
and ORS 348.696, as amended by sections 13 and 14, chapter 1070,
Oregon Laws 1999, section 12, chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 101), and section 27 of this 2001 Act, is
amended on July 1, 2011, to read: + }
' 348.696. The Education Endowment Fund is established separate
and distinct from the General Fund. Moneys in the fund shall be
invested as provided in ORS 293.701 to 293.790. All declared
earnings on moneys in the fund shall be transferred and
appropriated continuously as follows:
' (1) All declared earnings from the Oregon Growth Account to
the Higher Education Technology Transfer Fund established in
section 2, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill
101);
' { - (2) All declared earnings from the Higher Education
Technology Transfer Account to the Department of Higher
Education; - }
' { - (3) - } { + (2) + } 75 percent of all declared
earnings not described in subsection (1) { - or (2) - } of
this section to the Oregon Education Fund established by ORS
348.716; and
' { - (4) - } { + (3) + } 25 percent of all declared
earnings not described in subsection (1) { - or (2) - } of
this section to the Oregon Student Assistance Commission for the
Oregon Opportunity Grant program under ORS 348.260.
' { + SECTION 29. + } If Senate Bill 102 becomes law, section
19, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill 102), is
amended to read:
' { + Sec. 19. + } If the amendment to section 6, Article XI
of the Oregon Constitution, proposed by Senate Joint Resolution
17 (2001) is approved by the people at a special election held
throughout this state on the same date as the next biennial
primary election, any securities, property or moneys held in the
Higher Education Technology Transfer Account shall be transferred
to the Oregon Resource and Technology Development
{ - Account - } { + Subaccount + } on June 30, 2011.
' { + SECTION 30. + } { + (1) Pursuant to ORS 286.560 to
286.580, lottery bonds may be issued to fund a portion of the
costs related to acquisition of the Joseph Branch of the Idaho
Northern and Pacific Railroad in Wallowa and Union Counties to
preserve the railroad and its right of way. The provisions of ORS
286.505 to 286.545 do not apply to bonds described in this
section.
' (2) The use of the lottery bond proceeds is authorized based
on the following findings:
' (a) The railroad is of strong economic importance to both
Wallowa and Union Counties;
' (b) Loss of the railroad in Wallowa and Union Counties would
result in serious economic hardship and would remove a valuable
resource for an economically distressed area of the state;
' (c) Loss of rail service in other rural counties of Oregon
has had serious implications to the economy in reduced
manufacturing of goods and services and the ability to retain or
create family wage jobs;
' (d) Restarting the railroad could substantially reduce
shipping costs for businesses along the railroad; and
' (e) Restarting the railroad could offer strong economic
opportunity for the counties as a tourism attraction highlighting
an authentic rail excursion experience.
' (3) The aggregate principal amount of lottery bonds issued
pursuant to this section may not exceed the sum of $2 million and
an additional amount established by the State Treasurer to pay
bond-related costs. Lottery bonds issued pursuant to this section
shall be issued only at the request of the Director of the
Economic and Community Development Department after the
department has received a request from the county commissions of
Wallowa and Union Counties that provides for how the funds will
be used to acquire the right of way and the railroad for public
ownership.
' (4) The net proceeds of lottery bonds issued pursuant to this
section shall be deposited in the Oregon Community Development
Fund established in ORS 285A.227. Any such funds shall be
provided to a public entity established by Union and Wallowa
Counties on such terms as may be provided by agreement between
the Director of the Economic and Community Development Department
and the county commissions of Wallowa and Union Counties. If, by
the terms of such agreement, any funds may revert or be repaid to
the department, they may be allocated by the Oregon Economic and
Community Development Commission as provided by law.
' (5) The proceeds of lottery bonds issued pursuant to this
section may be used only for the purposes set forth in subsection
(1) of this section and for bond-related costs. + }
' { + SECTION 31. + } { + There is allocated to the Economic
and Community Development Department from the Administrative
Services Economic Development Fund the amount of $80,679 for the
purpose of paying debt service costs of lottery bonds issued to
finance the acquisition of the Joseph Branch of the Idaho
Northern and Pacific Railroad in Wallowa and Union Counties. + }
' { + SECTION 32. + } { + Notwithstanding any other law, the
limitation on expenditures established by section 3 (4), chapter
___, Oregon Laws 2001 (Enrolled Senate Bill 5510), is increased
by $80,679 for the purpose of paying the debt service costs of
lottery bonds issued to finance the acquisition of the Joseph
Branch of the Idaho Northern and Pacific Railroad in Wallowa and
Union Counties and the maximum limitation on expenditures
established by section 3 is correspondingly increased by
$80,679. + }
' { + SECTION 33. + } { + Notwithstanding any other law, the
amount of $49,739 is established for the biennium beginning July
1, 2001, as the maximum limit for payment of expenses by the
Economic and Community Development Department for the issuance
costs of lottery bonds issued during the 2001-2003 biennium to
finance the acquisition of the Joseph Branch of the Idaho
Northern and Pacific Railroad in Wallowa and Union Counties. + }
' { + SECTION 34. + } Section 32, chapter ___, Oregon Laws
2001 (Enrolled Senate Bill 5533), is amended to read:
' { + Sec. 32. + } (1) The Oregon Department of
Administrative Services shall establish by rule a process for
allocating available moneys in the Administrative Services
Economic Development Fund on a quarterly basis to fulfill the
biennial allocations made in { - this 2001 Act - } { +
chapter ___, Oregon Laws 2001 (Enrolled Senate Bill 5533) + }.
All quarterly allocations shall be set by the Oregon Department
of Administrative Services.
' (2) If, in any quarter, the moneys transferred from the State
Lottery Fund to the Administrative Services Economic Development
Fund are insufficient to pay for the quarterly allocations
established under { - this 2001 Act - } { + chapter ___,
Oregon Laws 2001 (Enrolled Senate Bill 5533) + }, the Oregon
Department of Administrative Services:
' (a) Shall satisfy the debt service obligations for Westside
Light Rail in the amount of $19,994,850 prior to making any other
allocations in { - this 2001 Act - } { + chapter ___, Oregon
Laws 2001 (Enrolled Senate Bill 5533) + }.
' (b) Subject to paragraph (a) of this subsection, prior to
making any other allocations in { - this 2001 Act - } { +
chapter ___, Oregon Laws 2001 (Enrolled Senate Bill 5533) + },
shall satisfy the debt services obligations for the following
amounts and the following purposes:
' (A) Oregon State Fair and Exposition Center, $3,170,828.
' (B) Economic and Community Development Department,
$19,380,778.
' (C) Department of Education, $42,400,000.
' (D) Department of Environmental Quality, $305,510.
' (E) Housing and Community Services Department, $2,492,073.
' (F) Oregon Department of Administrative Services, $534,003.
' (G) Oregon University System, $838,570.
' (H) Department of Transportation Short Rail, $186,541.
' (I) Department of Transportation Commuter Rail, $18,654.
{ +
' (J) Economic and Community Development Department,
$80,679. + }
' (3) After the debt service obligations described in
subsection (2) of this section are satisfied, if the remaining
moneys transferred from the State Lottery Fund to the
Administrative Services Economic Development Fund are
insufficient to pay for the quarterly allocations established
under { - this 2001 Act - } { + chapter ___, Oregon Laws 2001
(Enrolled Senate Bill 5533) + }, these allocations shall be
reduced proportionately in sufficient amounts to accommodate the
revenue shortfall.'.
In line 23, delete '23' and insert '35'.
In line 25, delete '24' and insert '36'.
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