71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
Enrolled
House Bill 3968
Sponsored by Representatives BUTLER, HILL, SIMMONS, WESTLUND;
Representatives BATES, BECK, BROWN, CARLSON, DEVLIN, GARRARD,
HOPSON, JENSON, KAFOURY, KING, KNOPP, KRIEGER, KROPF, KRUSE,
LEE, LEONARD, LOWE, MINNIS, MORGAN, MORRISETTE, NELSON,
PATRIDGE, G SMITH, P SMITH, T SMITH, C WALKER, WILLIAMS,
WILSON, WINTERS, WIRTH, ZAUNER, Senators CARTER, CLARNO,
DUNCAN, FISHER, HARPER, HARTUNG, MESSERLE, METSGER, MILLER,
NELSON, TROW, YIH (at the request of Donald Krahmer; Martha
Anne Dow, President, OIT; Paul Berger, President/CEO, Survey
Resources, Inc.; John Cimaral, CEO, Prosight, Inc.; Sharon
VanSickle, KVO; Alan Shiffer; Les Fahey; Greg Drew, 800.com;
Lane Kagey, President, Celstream Technologies, Inc.; Debi
Coleman, Co-founder and General Partner, Smart Forest Ventures,
LLC; Hugh Mackworth, Co-founder and General Partner, Smart
Forest Ventures, LLC)
CHAPTER ................
AN ACT
Relating to state finance; creating new provisions; amending ORS
65.957, 192.502, 293.701, 293.731, 293.761, 348.696, 348.701,
348.702, 348.703 and 348.707 and section 19, chapter ___,
Oregon Laws 2001 (Enrolled Senate Bill 102), sections 1 and 5,
chapter 519, Oregon Laws 2001 (Enrolled Senate Bill 273), and
section 32, chapter ___, Oregon Laws 2001 (Enrolled Senate Bill
5533); repealing ORS 284.610, 284.630, 284.640, 284.650,
284.655, 284.665, 284.675 and 284.705 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; and declaring an
emergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 348.701, as amended by section 1, chapter 52,
Oregon Laws 2001 (Enrolled House Bill 2119), is amended to read:
348.701. As used in ORS 348.701 to 348.710:
{ - (1) 'Affordable housing' means housing for Oregonians
that is priced at or below 80 percent of the median gross
household income level statewide and where the cost of that
housing comprises not more than 30 percent of the gross income of
a household. - }
{ - (2) - } { + (1) + } 'Board' means the Oregon Growth
Account Board established in ORS 348.707.
{ - (3) - } { + (2) + } 'Emerging growth business' means a
new or small company that has the capacity, upon obtaining
appropriate capital, to generate significant high skill, high
wage employment within one or more of the key industries,
Enrolled House Bill 3968 (HB 3968-B) Page 1
including those described in ORS 285B.280 { - , and affordable
housing - } .
{ - (4) - } { + (3) + } 'Management company' includes a
person, limited partnership, partnership, corporation or other
investment company.
{ + (4) 'Seed capital' means financing that is provided for
the initial phases of development, refinement and
commercialization of a product, process or innovation, including
but not limited to facilitating technology transfers related to
academic research, discoveries or developments for the purpose of
commercialization of a product, process or innovation. + }
SECTION 2. ORS 348.702 is amended to read:
348.702. (1) There is created within the Education Endowment
Fund the Oregon Growth Account, to which shall be credited 10
percent of the funds transferred under section 4, Article XV,
Oregon Constitution, from the Administrative Services Economic
Development Fund to the Education Endowment Fund. Separate
records shall be maintained for moneys in the Oregon Growth
Account that are available for the purposes specified in
subsection (2) of this section. The account may be credited with
such unrestricted appropriations, gifts, donations, grants or
contract proceeds from any source, with investments or funds from
any source, and with returns on investments made from the
account.
(2) The purpose of the Oregon Growth Account is to earn returns
for the Education Endowment Fund by making investments in { +
or to provide seed capital for + } emerging growth businesses in
key industries { - , including affordable housing, in Oregon - }
.
(3) The investment of funds in the Oregon Growth Account shall
be governed by the Oregon Growth Account Board.
SECTION 3. ORS 348.703, as amended by section 2, chapter 52,
Oregon Laws 2001 (Enrolled House Bill 2119), is amended to read:
348.703. (1) The Oregon Growth Account Board shall contract
with one or more management companies to manage and invest the
moneys in the Oregon Growth Account. For purposes of this
subsection, a contract with a management company may consist of a
partnership agreement under which the Oregon Growth Account Board
is the limited partner and the management company is the general
partner.
(2) { - Notwithstanding ORS 293.726, - } { + The provisions
of ORS 293.726 do not apply to those assets of the Education
Endowment Fund that are held in the Oregon Growth Account. The
limitations of ORS 293.726 (6) shall be calculated based only on
the balance of the Education Endowment Fund that does not include
the Oregon Growth Account.
(3) + }A management company selected to manage the Oregon
Growth Account shall manage the moneys in the account, subject to
investment policies established by the State Treasurer and the
investment directives or strategies of the Oregon Growth Account
Board, with the care, skill and diligence that a prudent investor
acting in a similar capacity and familiar with such investments
would use in managing and investing a similar account. The
management company shall invest in Oregon an amount that is at
least equal to the amount of the principal transferred from the
Oregon Growth Account to the management company for investment.
{ - (3) - } { + (4) + } The contract between the board and
a management company to manage the Oregon Growth Account and the
functions performed under the contract are not subject to the
State Personnel Relations Law or ORS chapter 279.
Enrolled House Bill 3968 (HB 3968-B) Page 2
{ - (4) - } { + (5) + } Notwithstanding ORS 348.702 (2), a
management company selected to manage the Oregon Growth Account
may maintain a portion of the moneys allocated to the account
under ORS 348.702 (1) in short-term securities in investments
other than those specified in ORS 348.702 (2) during such times
as a management company is seeking investments that meet the
requirements of ORS 348.702 (2).
{ - (5) - } { + (6) + } The State Treasurer shall annually
submit a report to the Governor and to the Legislative Assembly
on the investment of moneys in the Oregon Growth Account. The
report required by this subsection shall include a summary of the
amount of money invested by industrial sector or business
classification, by region of this state, by size of investment
and by type of investment.
{ - (6) - } { + (7) + } The State Treasurer shall provide
to other state agencies any reports on the investment of moneys
in the Oregon Growth Account that are necessary to fulfill audit,
financial, investment or other reporting requirements to which
the Education Endowment Fund is subject by law or standard
accounting principles.
{ - (7) - } { + (8) + } The office of the State Treasurer
shall provide staff to the board.
{ - (8) - } { + (9) + } There is continuously appropriated
to the board from the Oregon Growth Account those amounts
necessary to meet the expenses of the board and the State
Treasurer in carrying out the operations of the Oregon Growth
Account and the duties of the board and the State Treasurer. The
cost to the office of the State Treasurer of providing staff to
the board shall be deducted from those amounts paid to the State
Treasurer pursuant to ORS 293.718 as reimbursement for expenses
incurred as investment officer for the Education Endowment Fund.
{ - (9) - } { + (10) + } The board may enter into contracts
for the provision of investment advice or other services that the
board deems reasonable and necessary to fulfill the duties of the
board. The State Treasurer may enter into contracts for the
provision of investment advice or other services that the State
Treasurer deems reasonable and necessary to fulfill the duties of
the State Treasurer with respect to the Oregon Growth Account.
Such contracts are not subject to the State Personnel Relations
Law or ORS chapter 279.
SECTION 4. ORS 348.707, as amended by section 3, chapter 52,
Oregon Laws 2001 (Enrolled House Bill 2119), is amended to read:
348.707. (1) There is established an Oregon Growth Account
Board consisting of:
(a) The State Treasurer or the treasurer's designated
representative { + , who shall be the chairperson of the
board + }.
(b) { - Two - } { + Three + } members appointed by the
Governor { + from a list of candidates recommended by the State
Treasurer + } who are qualified by training and experience in the
field of venture capital and emerging growth businesses in
Oregon.
(c) { - One member - } { + Three members from the general
public + } appointed by the Governor from a list of candidates
recommended by the { + State Treasurer + } { - Oregon Economic
and Community Development Commission established by ORS
285A.040 - } .
{ - (d) One member appointed by the Governor from a list of
candidates recommended by the State Housing Council established
by ORS 456.567. - }
Enrolled House Bill 3968 (HB 3968-B) Page 3
(2) The term of office of each board member appointed by the
Governor is three years. However, each member { + , except the
State Treasurer or the treasurer's designated representative, + }
shall serve at the pleasure of the Governor. Before the
expiration of the term of a member, the Governor shall appoint a
successor. A member is eligible for reappointment. If there is a
vacancy for any cause, the Governor shall make an appointment to
become immediately effective for the unexpired term.
(3) A member of the board may receive reimbursement of expenses
under ORS 292.495 (2), but shall not receive compensation under
ORS 292.495 (1) or otherwise for participation as a board member.
{ + (4) The State Treasurer may establish investment policies
for the Oregon Growth Account. The investment policies may
include, but are not limited to:
(a) The reinvestment of the principal of the account after an
original investment;
(b) The reinvestment of returns from an original investment;
(c) The retention of amounts for unfunded commitments owed to a
management company;
(d) The determination of when and how earnings are calculated
and declared available from the account on behalf of the
Education Endowment Fund; and
(e) Other policies that the State Treasurer determines may
increase the total earnings of the account over time. + }
{ - (4) - } { + (5) Subject to investment policies
established for moneys in the account by the State Treasurer,
+ }the board shall have authority to approve or direct specific
investments or strategies for the investment of moneys in the
Oregon Growth Account { - , subject to investment policies
established for moneys in the account by the State Treasurer,
and - } { + and to make investments directly, without the use
of a management company, in any form or manner that would be
lawful for a private corporation having similar intent. In
addition, the board may:
(a) Acquire, own, hold, dispose of and encumber real or
personal property of any nature, both tangible and intangible, or
any interest in property, and exercise or acquire any rights in
property necessary or desirable to protect or secure any
investments in which the account has an interest;
(b) Trade, buy or sell securities;
(c) Own, possess, take license in and grant license to patents,
copyrights, proprietary processes and other intellectual
property, and negotiate and enter into contracts and establish
charges for the use of such patents, copyrights, proprietary
processes and other intellectual property; and
(d) Exercise any other powers necessary or desirable for the
operation and functioning of the account within the purposes
authorized in ORS 348.702.
(6) When performing the board's duties, + }the board shall
exercise the care, skill and diligence that a prudent investor
acting in a similar capacity and familiar with such investments
would use in managing and investing a similar account. { - The
investment policies of the State Treasurer may include, but are
not limited to: - }
{ - (a) The reinvestment of the principal of the account
after an original investment; - }
{ - (b) The reinvestment of returns from an original
investment; - }
{ - (c) The retention of amounts for unfunded commitments
owed to a management company; - }
Enrolled House Bill 3968 (HB 3968-B) Page 4
{ - (d) The determination of when and how earnings are
calculated and declared available from the account on behalf of
the Education Endowment Fund; and - }
{ - (e) Other policies that the State Treasurer determines
may increase the total earnings of the account over time. - }
{ - (5) - } { + (7) + } The State Treasurer shall report on
the development of the policies described in subsection (4) of
this section to the legislative interim committees on trade and
economic development and government finance and tax policy.
SECTION 5. { + Notwithstanding the amendments to ORS 348.707
by section 4 of this 2001 Act, the members of the Oregon Growth
Account Board serving on the board on the effective date of this
2001 Act shall continue to serve for the remainder of their
terms. The State Treasurer shall designate which of the members
serving on the board on the effective date of this 2001 Act are
intended to meet the requirements of ORS 348.707 (1)(b) and (c),
as amended by section 4 of this 2001 Act. + }
SECTION 6. { + Sections 7 and 8 of this 2001 Act are added to
and made a part of ORS 348.701 to 348.710. + }
SECTION 7. { + (1) There is created within the Oregon Growth
Account the Oregon Resource and Technology Development
Subaccount. Separate records shall be maintained for moneys in
the subaccount. Subject to investment policies established by
the State Treasurer and investment directives or strategies of
the Oregon Growth Account Board, moneys in the subaccount shall
be used to make seed capital investments in emerging growth
businesses in key industries in Oregon.
(2) The board may allocate such amounts from the subaccount as
the board determines appropriate for seed capital
investments. + }
SECTION 8. { + The Oregon Growth Account Board may allocate
to, withdraw from or transfer from the Oregon Resource and
Technology Development Subaccount and the balance of the Oregon
Growth Account such moneys, investments, returns or other assets
or amounts the board determines necessary or desirable to further
the purpose set forth in ORS 348.702. + }
SECTION 9. { + Notwithstanding sections 7 (2) and 8 of this
2001 Act, the Oregon Growth Account Board shall allocate to the
Oregon Resource and Technology Development Subaccount:
(1) Those assets transferred on the effective date of this 2001
Act from the Oregon Resource and Technology Development Account
under section 17 of this 2001 Act; and
(2) For the 2002-2003 fiscal year, the first $4 million of the
funds credited to the Oregon Growth Account under ORS 348.702 (1)
from the funds transferred under section 4, Article XV, Oregon
Constitution, from the Administrative Services Economic
Development Fund to the Education Endowment Fund. + }
{ + NOTE: + } Section 10 was deleted by amendment. Subsequent
sections were not renumbered.
SECTION 11. ORS 65.957 is amended to read:
65.957. (1) This chapter applies to all domestic corporations
in existence on October 3, 1989, that were incorporated under any
general statute of this state providing for incorporation of
nonprofit corporations if power to amend or repeal the statute
under which the corporation was incorporated was reserved.
(2) Without limitation as to any other corporations which may
be outside the scope of subsection (1) of this section, this
chapter does not apply to the following:
(a) The Oregon State Bar and the Oregon State Bar Professional
Liability Fund created under ORS 9.005 to 9.755;
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{ - (b) The Oregon Resource and Technology Development
Account and the Oregon Resource and Technology Development
Account Board created under ORS chapter 284; - }
{ - (c) - } { + (b) + } The State Accident Insurance Fund
Corporation created under ORS chapter 656;
{ - (d) - } { + (c) + } The Oregon Insurance Guaranty
Association and the Oregon Life and Health Insurance Guaranty
Association created under ORS chapter 734; and
{ - (e) - } { + (d) + } The Oregon FAIR Plan Association
and the Oregon Medical Insurance Pool created under ORS chapter
735.
(3) A public benefit corporation that has less than three
directors on October 3, 1989, shall comply with ORS 65.307 (1) by
October 3, 1990.
SECTION 12. ORS 192.502 is amended to read:
192.502. The following public records are exempt from
disclosure under ORS 192.410 to 192.505:
(1) Communications within a public body or between public
bodies of an advisory nature to the extent that they cover other
than purely factual materials and are preliminary to any final
agency determination of policy or action. This exemption shall
not apply unless the public body shows that in the particular
instance the public interest in encouraging frank communication
between officials and employees of public bodies clearly
outweighs the public interest in disclosure.
(2) Information of a personal nature such as but not limited to
that kept in a personal, medical or similar file, if the public
disclosure thereof would constitute an unreasonable invasion of
privacy, unless the public interest by clear and convincing
evidence requires disclosure in the particular instance. The
party seeking disclosure shall have the burden of showing that
public disclosure would not constitute an unreasonable invasion
of privacy.
(3)(a) Public body employee or volunteer addresses, dates of
birth and telephone numbers contained in personnel records
maintained by the public body that is the employer or the
recipient of volunteer services. This exemption does not apply:
(A) To such employees or volunteers if they are elected
officials, except that a judge or district attorney subject to
election may seek to exempt the judge's or district attorney's
address or telephone number, or both, under the terms of ORS
192.445;
(B) To such employees or volunteers to the extent that the
party seeking disclosure shows by clear and convincing evidence
that the public interest requires disclosure in a particular
instance; or
(C) To a substitute teacher as defined in ORS 342.815 when
requested by a professional education association of which the
substitute teacher may be a member.
(b) Nothing in this subsection exempting employee records from
disclosure relieves a public employer of any duty under ORS
243.650 to 243.782.
(4) Information submitted to a public body in confidence and
not otherwise required by law to be submitted, where such
information should reasonably be considered confidential, the
public body has obliged itself in good faith not to disclose the
information, and when the public interest would suffer by the
disclosure.
(5) Information or records of the Department of Corrections,
including the State Board of Parole and Post-Prison Supervision,
Enrolled House Bill 3968 (HB 3968-B) Page 6
to the extent that disclosure thereof would interfere with the
rehabilitation of a person in custody of the department or
substantially prejudice or prevent the carrying out of the
functions of the department, if the public interest in
confidentiality clearly outweighs the public interest in
disclosure.
(6) Records, reports and other information received or compiled
by the Director of the Department of Consumer and Business
Services in the administration of ORS chapters 723 and 725 not
otherwise required by law to be made public, to the extent that
the interests of lending institutions, their officers, employees
and customers in preserving the confidentiality of such
information outweighs the public interest in disclosure.
(7) Reports made to or filed with the court under ORS 137.077
or 137.530.
(8) Any public records or information the disclosure of which
is prohibited by federal law or regulations.
(9) Public records or information the disclosure of which is
prohibited or restricted or otherwise made confidential or
privileged under Oregon law.
(10) Public records or information described in this section,
furnished by the public body originally compiling, preparing or
receiving them to any other public officer or public body in
connection with performance of the duties of the recipient, if
the considerations originally giving rise to the confidential or
exempt nature of the public records or information remain
applicable.
(11) Records of the Energy Facility Siting Council concerning
the review or approval of security programs pursuant to ORS
469.530.
(12) Employee and retiree address, telephone number and other
nonfinancial membership records and employee financial records
maintained by the Public Employees Retirement System pursuant to
ORS chapter 238 and ORS 238.410.
(13) Records submitted by private persons or businesses to the
State Treasurer or the Oregon Investment Council relating to
proposed acquisition, exchange or liquidation of public
investments under ORS chapter 293 may be treated as exempt from
disclosure when and only to the extent that disclosure of such
records reasonably may be expected to substantially limit the
ability of the Oregon Investment Council to effectively compete
or negotiate for, solicit or conclude such transactions. Records
which relate to concluded transactions are not subject to this
exemption.
(14) The monthly reports prepared and submitted under ORS
293.761 and 293.766 concerning the Public Employees Retirement
Fund and the Industrial Accident Fund may be uniformly treated as
exempt from disclosure for a period of up to 90 days after the
end of the calendar quarter.
(15) Reports of unclaimed property filed by the holders of such
property to the extent permitted by ORS 98.352.
(16) The following records, communications and information
submitted to the Oregon Economic and Community Development
Commission, the Economic and Community Development Department,
the State Department of Agriculture, the Oregon { - Resource
and Technology Development Account or the Oregon Resource and
Technology Development - } { + Growth + } Account Board, the
Port of Portland or other ports, as defined in ORS 777.005, by
applicants for investment funds, loans or services including, but
not limited to, those described in ORS 285A.224:
Enrolled House Bill 3968 (HB 3968-B) Page 7
(a) Personal financial statements.
(b) Financial statements of applicants.
(c) Customer lists.
(d) Information of an applicant pertaining to litigation to
which the applicant is a party if the complaint has been filed,
or if the complaint has not been filed, if the applicant shows
that such litigation is reasonably likely to occur; this
exemption does not apply to litigation which has been concluded,
and nothing in this paragraph shall limit any right or
opportunity granted by discovery or deposition statutes to a
party to litigation or potential litigation.
(e) Production, sales and cost data.
(f) Marketing strategy information that relates to applicant's
plan to address specific markets and applicant's strategy
regarding specific competitors.
(17) Records, reports or returns submitted by private concerns
or enterprises required by law to be submitted to or inspected by
a governmental body to allow it to determine the amount of any
transient lodging tax payable and the amounts of such tax payable
or paid, to the extent that such information is in a form which
would permit identification of the individual concern or
enterprise. Nothing in this subsection shall limit the use which
can be made of such information for regulatory purposes or its
admissibility in any enforcement proceedings. The public body
shall notify the taxpayer of the delinquency immediately by
certified mail. However, in the event that the payment or
delivery of transient lodging taxes otherwise due to a public
body is delinquent by over 60 days, the public body shall
disclose, upon the request of any person, the following
information:
(a) The identity of the individual concern or enterprise that
is delinquent over 60 days in the payment or delivery of the
taxes.
(b) The period for which the taxes are delinquent.
(c) The actual, or estimated, amount of the delinquency.
(18) All information supplied by a person under ORS 151.430 to
151.491 for the purpose of requesting court-appointed counsel,
and all information supplied to the State Court Administrator
from whatever source for the purpose of verifying indigency of a
person pursuant to ORS 151.430 to 151.491.
(19) Workers' compensation claim records of the Department of
Consumer and Business Services, except in accordance with rules
adopted by the Director of the Department of Consumer and
Business Services, in any of the following circumstances:
(a) When necessary for insurers, self-insured employers and
third party claim administrators to process workers' compensation
claims.
(b) When necessary for the director, other governmental
agencies of this state or the United States to carry out their
duties, functions or powers.
(c) When the disclosure is made in such a manner that the
disclosed information cannot be used to identify any worker who
is the subject of a claim.
(d) When a worker or the worker's representative requests
review of the worker's claim record.
(20) Sensitive business records or financial or commercial
information of the Oregon Health Sciences University that is not
customarily provided to business competitors.
(21) Records of Oregon Health Sciences University regarding
candidates for the position of president of the university.
Enrolled House Bill 3968 (HB 3968-B) Page 8
(22) The records of a library, including circulation records,
showing use of specific library material by a named person or
consisting of the name of a library patron together with the
address or telephone number, or both, of the patron.
(23) The following records, communications and information
submitted to the Housing and Community Services Department by
applicants for and recipients of loans, grants and tax credits:
(a) Personal and corporate financial statements and
information, including tax returns.
(b) Credit reports.
(c) Project appraisals.
(d) Market studies and analyses.
(e) Articles of incorporation, partnership agreements and
operating agreements.
(f) Commitment letters.
(g) Project pro forma statements.
(h) Project cost certifications and cost data.
(i) Audits.
(j) Project tenant correspondence requested to be confidential.
(k) Tenant files relating to certification.
(L) Housing assistance payment requests.
(24) Raster geographic information system (GIS) digital
databases, provided by private forestland owners or their
representatives, voluntarily and in confidence to the State
Forestry Department, that is not otherwise required by law to be
submitted.
(25) Sensitive business, commercial or financial information
furnished to or developed by a public body engaged in the
business of providing electricity or electricity services, if the
information is directly related to a transaction described in ORS
261.348, or if the information is directly related to a bid,
proposal or negotiations for the sale or purchase of electricity
or electricity services, and disclosure of the information would
cause a competitive disadvantage for the public body or its
retail electricity customers. This subsection does not apply to
cost-of-service studies used in the development or review of
generally applicable rate schedules.
(26) Sensitive business, commercial or financial information
furnished to or developed by the City of Klamath Falls, acting
solely in connection with the ownership and operation of the
Klamath Cogeneration Project, if the information is directly
related to a transaction described in ORS 225.085 and disclosure
of the information would cause a competitive disadvantage for the
Klamath Cogeneration Project. This subsection does not apply to
cost-of-service studies used in the development or review of
generally applicable rate schedules.
(27) Personally identifiable information about customers of a
municipal electric utility or a people's utility district. The
utility or district may, however, release such information to a
third party if the customer consents in writing or
electronically, if the disclosure is necessary to render utility
or district services to the customer, or if the disclosure is
required pursuant to a court order. The utility or district may
charge as appropriate for the costs of providing such
information. The utility or district may make customer records
available to third party credit agencies on a regular basis in
connection with the establishment and management of customer
accounts or in the event such accounts are delinquent.
Enrolled House Bill 3968 (HB 3968-B) Page 9
(28) A record of the street and number of an employee's address
submitted to a special district to obtain assistance in promoting
an alternative to single occupant motor vehicle transportation.
(29) Except under the provisions of section 8 (2), chapter
1059, Oregon Laws 1999, pesticide sales or use reporting data
obtained by the State Department of Agriculture exclusively under
the provisions of sections 2 to 9, chapter 1059, Oregon Laws
1999, that would reveal the identity or specific location of the
owner or lessee of a specific property where a pesticide has been
applied for a private agriculture or forestry production
operation, or other nonpublic facility on private property.
Nothing in this subsection shall limit the use that may be made
of such information for regulatory purposes or its admissibility
in any enforcement proceedings.
(30) Sensitive business records, capital development plans or
financial or commercial information of Oregon Corrections
Enterprises that is not customarily provided to business
competitors.
SECTION 13. ORS 192.502, as amended by section 16, chapter
1059, Oregon Laws 1999, is amended to read:
192.502. The following public records are exempt from
disclosure under ORS 192.410 to 192.505:
(1) Communications within a public body or between public
bodies of an advisory nature to the extent that they cover other
than purely factual materials and are preliminary to any final
agency determination of policy or action. This exemption shall
not apply unless the public body shows that in the particular
instance the public interest in encouraging frank communication
between officials and employees of public bodies clearly
outweighs the public interest in disclosure.
(2) Information of a personal nature such as but not limited to
that kept in a personal, medical or similar file, if the public
disclosure thereof would constitute an unreasonable invasion of
privacy, unless the public interest by clear and convincing
evidence requires disclosure in the particular instance. The
party seeking disclosure shall have the burden of showing that
public disclosure would not constitute an unreasonable invasion
of privacy.
(3)(a) Public body employee or volunteer addresses, dates of
birth and telephone numbers contained in personnel records
maintained by the public body that is the employer or the
recipient of volunteer services. This exemption does not apply:
(A) To such employees or volunteers if they are elected
officials, except that a judge or district attorney subject to
election may seek to exempt the judge's or district attorney's
address or telephone number, or both, under the terms of ORS
192.445;
(B) To such employees or volunteers to the extent that the
party seeking disclosure shows by clear and convincing evidence
that the public interest requires disclosure in a particular
instance; or
(C) To a substitute teacher as defined in ORS 342.815 when
requested by a professional education association of which the
substitute teacher may be a member.
(b) Nothing in this subsection exempting employee records from
disclosure relieves a public employer of any duty under ORS
243.650 to 243.782.
(4) Information submitted to a public body in confidence and
not otherwise required by law to be submitted, where such
information should reasonably be considered confidential, the
Enrolled House Bill 3968 (HB 3968-B) Page 10
public body has obliged itself in good faith not to disclose the
information, and when the public interest would suffer by the
disclosure.
(5) Information or records of the Department of Corrections,
including the State Board of Parole and Post-Prison Supervision,
to the extent that disclosure thereof would interfere with the
rehabilitation of a person in custody of the department or
substantially prejudice or prevent the carrying out of the
functions of the department, if the public interest in
confidentiality clearly outweighs the public interest in
disclosure.
(6) Records, reports and other information received or compiled
by the Director of the Department of Consumer and Business
Services in the administration of ORS chapters 723 and 725 not
otherwise required by law to be made public, to the extent that
the interests of lending institutions, their officers, employees
and customers in preserving the confidentiality of such
information outweighs the public interest in disclosure.
(7) Reports made to or filed with the court under ORS 137.077
or 137.530.
(8) Any public records or information the disclosure of which
is prohibited by federal law or regulations.
(9) Public records or information the disclosure of which is
prohibited or restricted or otherwise made confidential or
privileged under Oregon law.
(10) Public records or information described in this section,
furnished by the public body originally compiling, preparing or
receiving them to any other public officer or public body in
connection with performance of the duties of the recipient, if
the considerations originally giving rise to the confidential or
exempt nature of the public records or information remain
applicable.
(11) Records of the Energy Facility Siting Council concerning
the review or approval of security programs pursuant to ORS
469.530.
(12) Employee and retiree address, telephone number and other
nonfinancial membership records and employee financial records
maintained by the Public Employees Retirement System pursuant to
ORS chapter 238 and ORS 238.410.
(13) Records submitted by private persons or businesses to the
State Treasurer or the Oregon Investment Council relating to
proposed acquisition, exchange or liquidation of public
investments under ORS chapter 293 may be treated as exempt from
disclosure when and only to the extent that disclosure of such
records reasonably may be expected to substantially limit the
ability of the Oregon Investment Council to effectively compete
or negotiate for, solicit or conclude such transactions. Records
which relate to concluded transactions are not subject to this
exemption.
(14) The monthly reports prepared and submitted under ORS
293.761 and 293.766 concerning the Public Employees Retirement
Fund and the Industrial Accident Fund may be uniformly treated as
exempt from disclosure for a period of up to 90 days after the
end of the calendar quarter.
(15) Reports of unclaimed property filed by the holders of such
property to the extent permitted by ORS 98.352.
(16) The following records, communications and information
submitted to the Oregon Economic and Community Development
Commission, the Economic and Community Development Department,
the State Department of Agriculture, the Oregon { - Resource
Enrolled House Bill 3968 (HB 3968-B) Page 11
and Technology Development Account or the Oregon Resource and
Technology Development - } { + Growth + } Account Board, the
Port of Portland or other ports, as defined in ORS 777.005, by
applicants for investment funds, loans or services including, but
not limited to, those described in ORS 285A.224:
(a) Personal financial statements.
(b) Financial statements of applicants.
(c) Customer lists.
(d) Information of an applicant pertaining to litigation to
which the applicant is a party if the complaint has been filed,
or if the complaint has not been filed, if the applicant shows
that such litigation is reasonably likely to occur; this
exemption does not apply to litigation which has been concluded,
and nothing in this paragraph shall limit any right or
opportunity granted by discovery or deposition statutes to a
party to litigation or potential litigation.
(e) Production, sales and cost data.
(f) Marketing strategy information that relates to applicant's
plan to address specific markets and applicant's strategy
regarding specific competitors.
(17) Records, reports or returns submitted by private concerns
or enterprises required by law to be submitted to or inspected by
a governmental body to allow it to determine the amount of any
transient lodging tax payable and the amounts of such tax payable
or paid, to the extent that such information is in a form which
would permit identification of the individual concern or
enterprise. Nothing in this subsection shall limit the use which
can be made of such information for regulatory purposes or its
admissibility in any enforcement proceedings. The public body
shall notify the taxpayer of the delinquency immediately by
certified mail. However, in the event that the payment or
delivery of transient lodging taxes otherwise due to a public
body is delinquent by over 60 days, the public body shall
disclose, upon the request of any person, the following
information:
(a) The identity of the individual concern or enterprise that
is delinquent over 60 days in the payment or delivery of the
taxes.
(b) The period for which the taxes are delinquent.
(c) The actual, or estimated, amount of the delinquency.
(18) All information supplied by a person under ORS 151.430 to
151.491 for the purpose of requesting court-appointed counsel,
and all information supplied to the State Court Administrator
from whatever source for the purpose of verifying indigency of a
person pursuant to ORS 151.430 to 151.491.
(19) Workers' compensation claim records of the Department of
Consumer and Business Services, except in accordance with rules
adopted by the Director of the Department of Consumer and
Business Services, in any of the following circumstances:
(a) When necessary for insurers, self-insured employers and
third party claim administrators to process workers' compensation
claims.
(b) When necessary for the director, other governmental
agencies of this state or the United States to carry out their
duties, functions or powers.
(c) When the disclosure is made in such a manner that the
disclosed information cannot be used to identify any worker who
is the subject of a claim.
(d) When a worker or the worker's representative requests
review of the worker's claim record.
Enrolled House Bill 3968 (HB 3968-B) Page 12
(20) Sensitive business records or financial or commercial
information of the Oregon Health Sciences University that is not
customarily provided to business competitors.
(21) Records of Oregon Health Sciences University regarding
candidates for the position of president of the university.
(22) The records of a library, including circulation records,
showing use of specific library material by a named person or
consisting of the name of a library patron together with the
address or telephone number, or both, of the patron.
(23) The following records, communications and information
submitted to the Housing and Community Services Department by
applicants for and recipients of loans, grants and tax credits:
(a) Personal and corporate financial statements and
information, including tax returns.
(b) Credit reports.
(c) Project appraisals.
(d) Market studies and analyses.
(e) Articles of incorporation, partnership agreements and
operating agreements.
(f) Commitment letters.
(g) Project pro forma statements.
(h) Project cost certifications and cost data.
(i) Audits.
(j) Project tenant correspondence requested to be confidential.
(k) Tenant files relating to certification.
(L) Housing assistance payment requests.
(24) Raster geographic information system (GIS) digital
databases, provided by private forestland owners or their
representatives, voluntarily and in confidence to the State
Forestry Department, that is not otherwise required by law to be
submitted.
(25) Sensitive business, commercial or financial information
furnished to or developed by a public body engaged in the
business of providing electricity or electricity services, if the
information is directly related to a transaction described in ORS
261.348, or if the information is directly related to a bid,
proposal or negotiations for the sale or purchase of electricity
or electricity services, and disclosure of the information would
cause a competitive disadvantage for the public body or its
retail electricity customers. This subsection does not apply to
cost-of-service studies used in the development or review of
generally applicable rate schedules.
(26) Sensitive business, commercial or financial information
furnished to or developed by the City of Klamath Falls, acting
solely in connection with the ownership and operation of the
Klamath Cogeneration Project, if the information is directly
related to a transaction described in ORS 225.085 and disclosure
of the information would cause a competitive disadvantage for the
Klamath Cogeneration Project. This subsection does not apply to
cost-of-service studies used in the development or review of
generally applicable rate schedules.
(27) Personally identifiable information about customers of a
municipal electric utility or a people's utility district. The
utility or district may, however, release such information to a
third party if the customer consents in writing or
electronically, if the disclosure is necessary to render utility
or district services to the customer, or if the disclosure is
required pursuant to a court order. The utility or district may
charge as appropriate for the costs of providing such
information. The utility or district may make customer records
Enrolled House Bill 3968 (HB 3968-B) Page 13
available to third party credit agencies on a regular basis in
connection with the establishment and management of customer
accounts or in the event such accounts are delinquent.
(28) A record of the street and number of an employee's address
submitted to a special district to obtain assistance in promoting
an alternative to single occupant motor vehicle transportation.
(29) Sensitive business records, capital development plans or
financial or commercial information of Oregon Corrections
Enterprises that is not customarily provided to business
competitors.
SECTION 14. ORS 293.701, as amended by section 67, chapter
1078, Oregon Laws 1999, is amended to read:
293.701. As used in ORS 293.701 to 293.820, unless the context
requires otherwise:
(1) 'Council' means the Oregon Investment Council.
(2) 'Investment funds' means:
(a) Public Employees Retirement Fund referred to in ORS
238.660;
(b) Industrial Accident Fund referred to in ORS 656.632;
(c) Consumer and Business Services Fund referred to in ORS
705.145;
(d) Employment Department Special Administrative Fund referred
to in ORS 657.822;
(e) Insurance Fund referred to in ORS 278.425;
(f) Funds under the control and administration of the Division
of State Lands;
(g) Oregon Student Assistance Fund referred to in ORS 348.570;
(h) Moneys made available to the Commission for the Blind under
ORS 346.270 and 346.540 or rules adopted thereunder;
(i) Forest rehabilitation bonds sinking fund referred to in ORS
530.280;
(j) Oregon War Veterans' Fund referred to in ORS 407.495;
(k) Oregon War Veterans' Bond Sinking Account referred to in
ORS 407.515;
(L) World War II Veterans' Compensation Fund;
(m) World War II Veterans' Bond Sinking Fund;
(n) Savings and loan association funds in the hands of the
Director of the Department of Consumer and Business Services;
(o) Funds in the hands of the State Treasurer that are not
required to meet current demands;
(p) State funds that are not subject to the control and
administration of officers or bodies specifically designated by
law;
(q) Funds derived from the sale of state bonds;
(r) Social Security Revolving Account referred to in ORS
237.490;
(s) Investment funds of the State Board of Higher Education
lawfully available for investment or reinvestment;
(t) Local Government Employer Benefit Trust Fund referred to in
ORS 657.513;
(u) Elderly and Disabled Special Transportation Fund
established by ORS 391.800;
{ - (v) Oregon Resource and Technology Development Account
established by ORS 284.630; - }
{ - (w) - } { + (v) + } Education Endowment Fund
established by ORS 348.696; and
{ - (x) - } { + (w) + } Deferred Compensation Fund
established under ORS 243.411.
(3) 'Investment officer' means the State Treasurer in the
capacity as investment officer for the council.
Enrolled House Bill 3968 (HB 3968-B) Page 14
SECTION 15. ORS 293.731 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, to the Oregon Resource and
Technology Development Account Board, to the - } Oregon Growth
Account or to the Oregon Growth Account Board.
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 - } .
SECTION 16. ORS 293.761 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
Enrolled House Bill 3968 (HB 3968-B) Page 15
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
{ - Account - } { + Subaccount + } established in { - ORS
284.655 - } { + section 7 of this 2001 Act + } as part of the
report on the Education Endowment Fund required by this section.
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.
SECTION 17. { + (1) On the effective date of this 2001 Act,
the Oregon Resource and Technology Development Account is
abolished.
(2) On the effective date of this 2001 Act, all assets of the
Oregon Resource and Technology Development Account established
under ORS 284.655 (1999 Edition) are transferred to the Oregon
Resource and Technology Development Subaccount established under
section 7 of this 2001 Act. + }
Enrolled House Bill 3968 (HB 3968-B) Page 16
SECTION 18. { + (1) On the effective date of this 2001 Act,
the Oregon Resource and Technology Development Account Board is
abolished.
(2) On the effective date of this 2001 Act, the duties,
functions and powers of the Oregon Resource and Technology
Development Account Board are transferred and assigned to the
Oregon Growth Account Board to perform such duties in accordance
with ORS 348.707, as amended by section 4 of this 2001 Act. + }
SECTION 19. { + Any proceeding, action, prosecution or other
business or matter undertaken or commenced before the effective
date of this 2001 Act by the Oregon Resource and Technology
Development Account Board that is still pending on the effective
date of this 2001 Act may be conducted and completed by the
Oregon Growth Account Board in the same manner, under the same
terms and conditions and with the same effect as though
undertaken, conducted or completed by the Oregon Resource and
Technology Development Account Board before the transfer.
However, any expenses, amounts payable or other obligations of
the Oregon Resource and Technology Development Account or its
board that are due and payable or pending on the effective date
of this 2001 Act shall be payable only from those amounts
allocated to the Oregon Resource and Technology Development
Subaccount. The balance of the Oregon Growth Account may not be
used to pay for such expenses, amounts payable or other
obligations unless the Oregon Growth Account Board determines
that there will be moneys generated by the assets held in the
subaccount, or transferred to the subaccount from sources other
than the balance of the Oregon Growth Account, sufficient to
reimburse the balance of the Oregon Growth Account for any
amounts expended for payment of such expenses, amounts payable or
other obligations of the Oregon Resource and Technology
Development Account or the Oregon Resource and Technology
Development Account Board. + }
SECTION 20. { + The Oregon Resource and Technology Development
Subaccount is considered to be a continuation of the Oregon
Resource and Technology Development Account and the Oregon Growth
Account Board is considered to be a continuation of the Oregon
Resource and Technology Development Account Board with respect to
the duties, functions and powers of the Oregon Resource and
Technology Development Account and its board, and not new
authorities, for the purpose of succession to all assets, rights
and obligations of the Oregon Resource and Technology Development
Account and its board. + }
SECTION 21. { + Whenever, in any law or resolution of the
Legislative Assembly or in any rule, document or proceeding
authorized thereby, reference is made to the 'Oregon Resource and
Technology Development Account' and the 'Oregon Resource and
Technology Development Account Board,' such reference is
considered to describe, respectively, the 'Oregon Resource and
Technology Development Subaccount' and the 'Oregon Growth Account
Board.' + }
SECTION 22. { + (1) For the purpose of harmonizing and
clarifying statute sections published in Oregon Revised Statutes,
the Legislative Counsel may substitute for words designating the
' Oregon Resource and Technology Development Account Board, '
wherever they occur in Oregon Revised Statutes, other words
designating the 'Oregon Growth Account Board. '
(2) For the purpose of harmonizing and clarifying statute
sections published in Oregon Revised Statutes, the Legislative
Counsel may substitute for words designating the 'Oregon Resource
Enrolled House Bill 3968 (HB 3968-B) Page 17
and Technology Development Account,' wherever they occur in
Oregon Revised Statutes, other words designating the 'Oregon
Resource and Technology Development Subaccount.' + }
SECTION 23. If Senate Bill 273 becomes law and Senate Bill 101
does not become law, section 1, chapter 519, 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 519, 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 519, 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;
Enrolled House Bill 3968 (HB 3968-B) Page 18
(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 519, 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;
Enrolled House Bill 3968 (HB 3968-B) Page 19
(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
Enrolled House Bill 3968 (HB 3968-B) Page 20
(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
Enrolled House Bill 3968 (HB 3968-B) Page 21
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
Enrolled House Bill 3968 (HB 3968-B) Page 22
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
Enrolled House Bill 3968 (HB 3968-B) Page 23
5533) + }, these allocations shall be reduced proportionately in
sufficient amounts to accommodate the revenue shortfall.
SECTION 35. { + ORS 284.610, 284.630, 284.640, 284.650,
284.655, 284.665, 284.675 and 284.705 are repealed. + }
SECTION 36. { + 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. + }
----------
Passed by House July 6, 2001
...........................................................
Chief Clerk of House
...........................................................
Speaker of House
Passed by Senate July 6, 2001
...........................................................
President of Senate
Enrolled House Bill 3968 (HB 3968-B) Page 24
Received by Governor:
......M.,............., 2001
Approved:
......M.,............., 2001
...........................................................
Governor
Filed in Office of Secretary of State:
......M.,............., 2001
...........................................................
Secretary of State
Enrolled House Bill 3968 (HB 3968-B) Page 25