Chapter 441 Oregon Laws 2003

AN ACT

SB 5544

Relating to the financial administration of the Treasurer of State; limiting expenditures; and declaring an emergency.

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

SECTION 1. Notwithstanding any other law limiting expenditures, the following amounts are established for the biennium beginning July 1, 2003, as the maximum limits for payment of expenses from fees, moneys or other revenues, including Miscellaneous Receipts, but excluding lottery funds and federal funds, collected or received by the Treasurer of State for the following purposes:

(1) Administrative expenses of

State Treasury operations............ $ 17,627,079

(2) Administrative expenses of

the Oregon Qualified Tuition

Savings Program........................... $ 1,395,998

SECTION 2. For the biennium beginning July 1, 2003, expenditures made by the Treasurer of State to pay for cash management and investment services as they are incurred are not limited.

SECTION 3. This 2003 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2003 Act takes effect July 1, 2003.

Approved by the Governor June 23, 2003

Filed in the office of Secretary of State June 23, 2003

Effective date July 1, 2003

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