71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
Note: For budget, see 2001-03 Biennial Budget, Pages B-18, B-19
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 9542
 
                        Senate Bill 5542
 
Printed pursuant to Senate Interim Rule 213.28 by order of the
  President of the Senate in conformance with presession filing
  rules, indicating neither advocacy nor opposition on the part
  of the President (at the request of Budget and Management
  Division, Oregon Department of Administrative Services)
 
 
                             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 as
introduced.
 
  Appropriates moneys from General Fund to Oregon Student
Assistance Commission for biennial expenses.
  Limits biennial expenditures from fees, moneys or other
revenues, including Miscellaneous Receipts and federal funds,
collected or received by Oregon Student Assistance Commission.
  Limits biennial expenditures of Oregon Student Assistance
Commission from federal funds.
  Excludes certain expenditure limitations.
  Subjects commission to Oregon Department of Administrative
Services allotment process.
  Declares emergency, effective July 1, 2001.
 
                        A BILL FOR AN ACT
Relating to the financial administration of the Oregon Student
  Assistance Commission; appropriating money; limiting
  expenditures; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + There is appropriated to the Oregon Student
Assistance Commission, for the biennium beginning July 1, 2001,
out of the General Fund, the amount of $34,273,663. + }
  SECTION 2.  { + Notwithstanding any other law, the amount of
$14,055,009 is established for the biennium beginning July 1,
2001, as the maximum limit for payment of expenses from fees,
moneys or other revenues, including Miscellaneous Receipts and
including federal funds from the United States Department of
Education, collected or received by the Oregon Student Assistance
Commission for administration and operation of the Federal Family
Education Loans Program. + }
  SECTION 3.  { + Notwithstanding any other law, the amount of
$1,026,970 is established for the biennium beginning July 1,
2001, as the maximum limit for payment of expenses from federal
funds collected or received by the Oregon Student Assistance
Commission. + }
  SECTION 4.  { + In addition to and notwithstanding any other
law, the amount of $5,842,185 is established for the biennium
beginning July 1, 2001, as the maximum limit for payment of
expenses from lottery moneys allocated from the Education
Endowment Fund to the Oregon Student Assistance Commission for
opportunity grants. + }
  SECTION 5.  { + Section 2 of this 2001 Act does not limit,
affect or apply to expenditures to:
  (1) Purchase defaulted loans from lenders;
  (2) Reimburse the federal portion of collections on defaulted
loans;
  (3) Pay collection agency charges;
  (4) Make disbursements of grants from private and special
scholarship accounts as established by the Legislative Assembly;
and
  (5) Make disbursements of educational benefits to students as
established by the Legislative Assembly. + }
  SECTION 6.  { + Notwithstanding any other law, all sections of
this 2001 Act are subject to Oregon Department of Administrative
Services rules related to allotting, controlling, and encumbering
funds. + }
  SECTION 7.  { + This 2001 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2001 Act takes effect July 1,
2001. + }
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