71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 4114
A-Engrossed
House Joint Resolution 64
Ordered by the House May 30
Including House Amendments dated May 30
Sponsored by Representative WITT; Representatives BATES, BECK,
BROWN, CARLSON, HASS, KAFOURY, SHETTERLY, WILLIAMS
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
Proposes amendment to Oregon Constitution authorizing use of
principal of Common School Fund for education if three-fifths of
members in each house of Legislative Assembly declare that there
is economic emergency and vote to appropriate moneys. { +
Requires Legislative Assembly to return moneys to Common School
Fund within six years of end of economic emergency. + }
Refers proposed amendment to people for their approval or
rejection at special election held on same date as next biennial
primary election.
JOINT RESOLUTION
Be It Resolved by the Legislative Assembly of the State of
Oregon:
PARAGRAPH 1. Section 2, Article VIII of the Constitution of the
State of Oregon, is amended to read:
{ + Sec. 2. + } (1) The sources of the Common School Fund
are:
(a) The proceeds of all lands granted to this state for
educational purposes, except the lands granted to aid in the
establishment of institutions of higher education under the Acts
of February 14, 1859 (11 Stat. 383) and July 2, 1862 (12 Stat.
503).
(b) All the moneys and clear proceeds of all property which may
accrue to the state by escheat.
(c) The proceeds of all gifts, devises and bequests, made by
any person to the state for common school purposes.
(d) The proceeds of all property granted to the state, when the
purposes of such grant shall not be stated.
(e) The proceeds of the five hundred thousand acres of land to
which this state is entitled under the Act of September 4, 1841
(5 Stat. 455).
(f) The five percent of the net proceeds of the sales of public
lands to which this state became entitled on her admission into
the union.
(g) After providing for the cost of administration and any
refunds or credits authorized by law, the proceeds from any tax
or excise levied on, with respect to or measured by the
extraction, production, storage, use, sale, distribution or
receipt of oil or natural gas and the proceeds from any tax or
excise levied on the ownership of oil or natural gas. However,
the rate of such taxes shall not be greater than six percent of
the market value of all oil and natural gas produced or salvaged
from the earth or waters of this state as and when owned or
produced. This paragraph does not include proceeds from any tax
or excise as described in section 3, Article IX of this
Constitution.
(2) All revenues derived from the sources mentioned in
subsection (1) of this section shall become a part of the Common
School Fund. The State Land Board may expend moneys in the Common
School Fund to carry out its powers and duties under subsection
(2) of section 5 of this Article. Unexpended moneys in the Common
School Fund shall be invested as the Legislative Assembly shall
provide by law and shall not be subject to the limitations of
section 6, Article XI of this Constitution. The State Land Board
may apply, as it considers appropriate, income derived from the
investment of the Common School Fund to the operating expenses of
the State Land Board in exercising its powers and duties under
subsection (2) of section 5 of this Article. The remainder of the
income derived from the investment of the Common School Fund
shall be applied to the support of primary and secondary
education as prescribed by law.
{ + (3) The Legislative Assembly may expend moneys in the
Common School Fund for education for public school students in
kindergarten through grade 12 if the Legislative Assembly, with
the approval of three-fifths of the members serving in each house
of the Legislative Assembly:
(a) Enacts a law appropriating moneys from the fund; and
(b) Adopts a joint resolution declaring that a state of
economic emergency exists in this state by reason of the present
or predicted existence of either of the following economic
conditions:
(A) A decline for two or more consecutive quarters in the
seasonally adjusted rate of nonfarm payroll employment; or
(B) A quarterly economic and revenue forecast projection of a
negative ending balance for the General Fund for the biennium for
which the forecast is being made.
(4) The authority conferred by subsection (3) of this section
does not apply to:
(a) The proceeds described in paragraph (a) of subsection (1)
of this section; or
(b) The proceeds of gifts, devises and bequests made by a
person to the state for Common School Fund purposes before the
effective date of the amendment to this section by House Joint
Resolution 64 (2001).
(5)(a) When the economic conditions prescribed by paragraph (b)
of subsection (3) of this section no longer exist, the
Legislative Assembly shall by joint resolution, adopted with the
approval of a majority of the members serving in each house of
the Legislative Assembly, declare the state of economic emergency
ended.
(b) If the Legislative Assembly expends moneys under subsection
(3) of this section, the Legislative Assembly shall return the
moneys to the Common School Fund within six years of the end of
the state of economic emergency.
(6) The Legislative Assembly may by law prescribe the
procedures to be used and identify the persons required to make
the forecasts described in paragraph (b) of subsection (3) of
this section.
(7) The State Land Board shall provide the Legislative Assembly
with the information necessary to exercise the authority
conferred by subsection (3) of this section. + }
PARAGRAPH 2. { + The amendment proposed by this resolution
shall be submitted to the people for their approval or rejection
at a special election held throughout this state on the same date
as the next biennial primary election. + }
----------