72nd OREGON LEGISLATIVE ASSEMBLY--2003 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 3039
Minority Report
A-Engrossed
House Bill 2011
Ordered by the House May 14
Including House Minority Report Amendments dated May 14
Sponsored by nonconcurring members of the House Committee on
Trade and Economic Development: Representatives HASS, HUNT
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.
Requires Oregon Economic and Community Development Commission
{ - and - } { + to develop mission statement for + } Economic
and Community Development Department { - to develop methods to
promote recruiting, retaining and expanding businesses, to
improve competitiveness of businesses and to study state's tax
structure and regulatory policies - } { + that gives highest
priority to promoting job development in Oregon. Directs
commission to report annually to Governor and Legislative
Assembly on success of economic development efforts. Directs
department to assist businesses seeking to locate or expand in
regions of state.
Creates Governor's Council on Oregon's Economy to facilitate
economic development activities.
Allows certain tax credits for research expenses.
Directs State Board of Higher Education to establish research
center for multiscale research. Provides certain funding.
Extends sunset on Oregon Council for Knowledge and Economic
Development.
Takes effect on 91st day following adjournment sine die + }.
A BILL FOR AN ACT
Relating to economic development; creating new provisions;
amending ORS 285A.050, 285A.090, 285A.095, 285A.136, 317.152
and 317.154 and section 6, chapter 911, Oregon Laws 1989, and
section 7, chapter 519, Oregon Laws 2001; appropriating money;
limiting expenditures; and prescribing an effective date.
Whereas the Legislative Assembly and appropriate state agencies
should work to establish Oregon as a leader in the
knowledge-based economy; and
Whereas high-tech development will enhance the ability to start
and grow companies and attract entrepreneurs willing to
commercialize ideas in Oregon, and the promotion of these ideas
will become Oregon's renewable resource for the 21st century; and
Whereas Oregon should promote industries that attract a
well-educated and committed workforce; and
Whereas Oregon should develop a workforce strategy that is
aligned with Oregon's key industries; and
Whereas this workforce strategy should keep current workers on
the leading edge of technology, expand the ability of Oregon to
educate workers in Oregon for knowledge-based jobs and prepare
Oregon's youth for knowledge-based jobs of the future; and
Whereas it is important to develop an Oregon roadmap for a
knowledge-based workforce that includes occupations that are
central to the competitiveness of multiple industries across the
state; and
Whereas activities that are intended to improve economic
development should be managed under a statewide framework while
maximizing local input and direction; and
Whereas the Legislative Assembly and appropriate state agencies
should adopt specific policies to stimulate statewide the
business climate for small business start-ups and family-owned
businesses, which are the backbone of Oregon's economy and the
key to economic recovery; now, therefore,
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + The Oregon Economic and Community Development
Commission shall develop a mission statement for the Economic and
Community Development Department that gives the highest priority
to promoting job development in Oregon by:
(1) Assisting existing companies that desire to expand;
(2) Assisting existing companies that desire to develop new
products;
(3) Promoting the commercialization of technology developed at
colleges and universities in Oregon;
(4) Recruiting businesses in targeted industries to locate in
Oregon;
(5) Providing assistance to communities for local economic
development efforts; and
(6) Developing infrastructure for communities that supports
local economic development efforts. + }
SECTION 2. { + The Oregon Economic and Community Development
Commission shall recommend legislation to the Seventy-third
Legislative Assembly to amend ORS 285A.090 to reflect the
priorities established under section 1 of this 2003 Act. + }
SECTION 3. { + (1) There is established the Governor's Council
on Oregon's Economy.
(2) The members of the council are:
(a) The presiding officer of the Oregon Economic and Community
Development Commission;
(b) The chairperson of the Oregon Transportation Commission;
(c) The chairperson of the State Board of Agriculture;
(d) The chairperson of the International Trade Commission;
(e) The chairperson of the Oregon Council for Knowledge and
Economic Development;
(f) The president of the State Board of Higher Education; and
(g) Other persons designated by the Governor.
(3) The council shall meet quarterly to:
(a) Discuss and coordinate the activities of each entity
described in subsection (2) of this section that relate to
economic development and improving the economy in Oregon; and
(b) Discuss and recommend to the Legislative Assembly methods
for creating certainty for the development process. These
recommendations must include:
(A) Methods for establishing clear and objective standards for
approval processes used by local and state government; and
(B) Proposed changes to existing statutes and rules that hinder
project approval. + }
SECTION 4. { + (1) The Oregon Economic and Community
Development Commission shall establish regions for the purpose of
job development and community assistance. When establishing the
regions, the commission must consider the optimal size for each
region that will most effectively facilitate economic development
activities in the region. Regions established by the commission
do not have to be of the same size or population.
(2) The Director of the Economic and Community Development
Department shall provide for economic innovation coordination in
the central office, which shall assist the field representatives
in:
(a) Establishing contacts between local businesses and
universities and community colleges in Oregon to promote the use
of the research capacities of these institutions for development
of new products; and
(b) Serving as a liaison between the clients of the Economic
and Community Development Department and the Oregon Council for
Knowledge and Economic Development to promote effective linkage
between regional economic development efforts and technological
advances in Oregon. + }
SECTION 5. { + The Legislative Assembly declares that a
significant purpose of the strategic investment program
established in ORS 285B.383, 285B.386 and 307.123 is to improve
employment in areas where eligible projects are to be located and
urges business firms that will benefit from an eligible project
to hire employees from the region in which the eligible project
is to be located whenever practicable. + }
SECTION 6. ORS 285A.050 is amended to read:
285A.050. (1) The Oregon Economic and Community Development
Commission shall report { - biennially - } { + annually + }
to the Governor and the Legislative Assembly on the success of
economic development efforts. The report, at a minimum, shall
include the following:
(a) For the overall Economic and Community Development
Department effort and for each identifiable program and
significant project or service:
(A) The impact of that program on the competitiveness of traded
sector industries and the skill levels of the Oregon workforce;
(B) The impact on the number of jobs, including jobs created
and retained;
(C) The impact on the wage levels of Oregon workers, including
increases in wage levels;
(D) The actual or anticipated impact of public investments at
all levels, in terms of measurable outcomes wherever possible;
and
(E) The impact of that program on the Internet-based entities
and employees in Oregon.
(b) The status of the Oregon economy related to:
(A) Changes in employment and wage levels in Oregon industries;
(B) Changes in employment, wage levels and competitiveness of
traded sector industries; and
(C) Barriers that have been identified as impeding business
competitiveness and productivity in this state.
(c) Progress made toward achievement of the Oregon Benchmarks.
(d) Recommendations for removing identified barriers and
additional suggestions for improving the performance of Oregon's
economy.
(e) Recommendations on this state's investment in its public
ports, on this state's response to policy issues that affect
ports and for the strategic development of port facilities that
promote maritime commerce, recreational opportunities and the
economy of Oregon.
(f) Progress made toward elimination of economically distressed
areas of this state.
(g) Recommendations regarding improving the international
competitiveness of Oregon.
(h) Progress made in serving microenterprise businesses and
recommendations for increasing the success of microenterprises.
(2) Whenever a power is granted to the commission, the power
may be exercised by such officers, employees or
commission-appointed committees as are designated in writing by
the commission.
{ + (3) Reports to the Legislative Assembly required under
this section shall be made in accordance with ORS 192.245. + }
SECTION 7. ORS 285A.090 is amended to read:
285A.090. The Economic and Community Development Department
shall:
(1) Implement programs consistent with policies of the Oregon
Economic and Community Development Commission.
(2) Provide field representatives in the various geographical
regions of the state. The field representatives shall be in the
unclassified service and shall receive such salary as may be set
by the Director of the Economic and Community Development
Department, unless otherwise provided by law. The field
representatives shall:
{ + (a) Serve as internal advocates and centralized contacts
within state government for businesses seeking to locate or
expand in the region and shall guide the businesses through all
required processes with state regulatory agencies and local units
of government to facilitate and expedite siting or expansion of
the businesses within the businesses' budgets and in an
economically viable manner;
(b) Seek assistance and direction for resolving delays for a
project from the Governor or a designee of the Governor; + }
{ - (a) - } { + (c) + } Work with local units of government
and the private sector { - to encourage and to assist them - }
as they establish and carry out economic development plans and
programs under ORS 280.500;
{ - (b) Promote local awareness of department policy and
department programs and services and of assistance and economic
incentives available from government at all levels; and - }
{ + (d) Establish links with and act as liaisons between
businesses seeking to locate or expand in the region and
resources within the public and private institutions of higher
education in Oregon familiar with technological advancements and
grant opportunities;
(e) Serve as liaisons between businesses seeking to locate or
expand in the region and appropriate governmental, university,
community college and industry representatives to assist and
partner with the businesses in their developmental efforts;
(f) Assemble regional rapid response teams that include
regional departmental staff and representatives of local
governments in the region to work with businesses seeking to
locate or expand in the region by facilitating developmental
procedures and eliminating obstacles to completion of projects;
(g) Assign specific responsibilities for and monitor progress
of rapid response team members toward completion of tasks
essential to the achievement of a successful outcome of a project
for all parties involved;
(h) Coordinate client meetings with members of rapid response
teams to establish and monitor the adherence to developmental
timelines and to ensure client satisfaction with services
provided; + }
{ - (c) - } { + (i) + } Deliver to local units of
government and the private sector the assistance and services
available from the department, including publications, research
and technical and financial assistance programs { - . - } { + ;
and
(j) Promote local awareness of department policy and department
programs and services and of assistance and economic incentives
available from government at all levels. + }
(3) Process requests received by state agencies and interested
parties for information pertaining to industrial and commercial
locations and relocations throughout the state.
(4) Consult and advise with, coordinate activities of, and give
technical assistance and encouragement to, state and local
organizations, including local development corporations, county,
city, and metropolitan-area committees, chambers of commerce,
labor organizations and similar agencies interested in obtaining
new industrial plants or commercial enterprises.
(5) Act as the state's official liaison agency between persons
interested in locating industrial or business firms in the state,
and state and local groups seeking new industry or business,
maintaining the confidential nature of the negotiations it
conducts as requested by persons contemplating location in the
state.
(6) Coordinate state and federal economic development programs.
(7) Consult and advise with, coordinate activities of, and give
technical assistance and encouragement to all parties including,
but not limited to, port districts within the state working in
the field of international trade or interested in promoting their
own trading activity.
(8) Provide advice and technical assistance to Oregon business
and labor.
(9) Collect and disseminate information regarding the
advantages of developing new business and expanding existing
business in the state.
(10) Aid local communities in planning for and obtaining new
business to locate therein and provide assistance in local
applications for federal development grants.
(11) Work actively to recruit domestic and international
business firms to those communities that desire such recruitment.
(12) In carrying out its duties under ORS chapters 285A and
285B and ORS 329.905 to 329.975, give priority to assisting small
businesses in this state by encouraging the creation of new
businesses, the expansion of existing businesses and the
retention of economically distressed businesses which are
economically viable.
(13) Establish and operate foreign trade offices in those
foreign countries in which the department considers a foreign
trade office necessary using department employees, contracts with
public or private persons or a combination of department
employees and contractors. Department employees, including
managers, who are assigned to work in a foreign trade office
shall be in the unclassified service, and the director shall set
the salaries of those persons. Foreign trade offices shall
provide one or more of the following services:
(a) Work with the private sector to assist them in finding
international markets for their goods and services;
(b) Work with local units of government to assist them in
locating foreign businesses within their jurisdiction;
(c) Promote awareness in foreign countries of department
policy, programs and services and of assistance and economic
incentives available from government at all levels; or
(d) Provide other assistance considered necessary by the
director.
SECTION 8. ORS 285A.095 is amended to read:
285A.095. (1) When providing funding for a project, for a
program or for technical assistance, the Economic and Community
Development Department shall give priority to counties, cities,
communities or other geographic areas that are designated as
distressed areas by the Economic and Community Development
Department, based on indicators of economic distress or
dislocation, including but not limited to unemployment, poverty
and job loss.
(2) Prior to defining or designating distressed areas for the
purposes of subsection (1) of this section, the Economic and
Community Development Department shall consult with other state
agencies and with local agencies and officials.
(3) The Economic and Community Development Department shall
conduct a review of its compliance with subsections (1) and (2)
of this section at least once in each year and shall prepare a
report concerning the compliance review. The report shall be
incorporated into the { - biennial - } { + annual + } report
of the Oregon Economic and Community Development Commission
required by ORS 285A.050.
SECTION 9. ORS 285A.136 is amended to read:
285A.136. The International Trade Commission shall prepare and
submit to the Governor and to the Legislative Assembly a biennial
report on January 15, 1999, and on January 15 of every other year
thereafter. The report shall be incorporated into the
{ - biennial - } { + annual + } report of the Oregon Economic
and Community Development Commission required by ORS 285A.050.
The report required by this section shall include, but not be
limited to, the following:
(1) A description of the activities of the International Trade
Commission during the two-year reporting period.
(2) Information and data on relevant trade patterns and trends.
(3) Recommendations, including long-range strategic plans and
legislative proposals.
(4) An action agenda for the subsequent two years.
SECTION 10. ORS 317.152 is amended to read:
317.152. (1) A credit against taxes otherwise due under this
chapter shall be allowed to eligible taxpayers for increases in
qualified research expenses and basic research payments. The
credit shall be determined in accordance with section 41 of the
Internal Revenue Code, except as follows:
(a) The applicable percentage specified in section 41(a) of the
Internal Revenue Code shall be five percent.
(b) 'Qualified research' and 'basic research' shall consist
{ + only + } of research { - in the fields of advanced
computing, advanced materials, biotechnology, electronic device
technology, environmental technology or straw utilization, but
only to the extent that such research is - } conducted in
Oregon.
(c) The following { - shall - } { + do + } not apply to the
credit allowable under this section:
(A) Section 41(c)(4) of the Internal Revenue Code (relating to
the alternative incremental credit).
(B) Section 41(h) of the Internal Revenue Code (relating to
termination of the federal credit).
{ - (2) As used in this section: - }
{ - (a) 'Advanced computing' means leading edge technologies
used in the design and development of computing hardware and
software. This includes innovations in design of the full
spectrum of hardware from hand-held calculators to super
computers, including all peripheral equipment. It also includes
innovations in design and development software executing on all
computing hardware for any purpose. - }
{ - (b) 'Advanced materials' means high value metals, new and
improved wood-based materials, composites and plastics. - }
{ - (c) 'Biotechnology' means biochemistry, molecular
biology, genetics and engineering dealing with the transformation
of biological systems into useful processes and products. - }
{ - (d) 'Electronic device technology' means the design and
development of electronic materials and devices such as advances
in integrated circuits and superconductivity. - }
{ - (e) 'Environmental technology' means environmental
assessment, cleanup and alternative energy sources. - }
{ - (f) 'Straw utilization' means innovations in the use of
straw and straw-based materials. - }
{ - (3) - } { + (2) + } For purposes of this section,
'eligible taxpayer ' means a corporation, other than
{ - corporations - } { + a corporation + } excluded under
Internal Revenue Code section 41(e)(7)(E) { - , that is engaged
in research in the fields of advanced computing, advanced
materials, biotechnology, electronic device technology or
environmental technology - } .
{ - (4) - } { + (3) + } The Income Tax Regulations as
prescribed by the Secretary of the Treasury under authority of
section 41 of the Internal Revenue Code { - shall also - }
apply for purposes of this section, except as modified by this
section or as provided in rules adopted by the Department of
Revenue.
{ - (5) - } { + (4) + } The maximum credit under this
section { - shall - } { + may + } not exceed
{ - $500,000 - } { + $2 million + }.
{ - (6) - } { + (5) + } Any tax credit that is otherwise
allowable under this section and that is not used by the taxpayer
in that year may be carried forward and offset against the
taxpayer's tax liability for the next succeeding tax year. Any
credit remaining unused in such next succeeding tax year may be
carried forward and used in the second succeeding tax year, and
likewise any credit not used in that second succeeding tax year
may be carried forward and used in the third succeeding tax year,
and any credit not used in that third succeeding tax year may be
carried forward and used in the fourth succeeding tax year, and
any credit not used in that fourth succeeding tax year may be
carried forward and used in the fifth succeeding tax year, but
may not be carried forward for any tax year thereafter.
SECTION 11. { + Notwithstanding ORS 317.152 (4):
(1) For tax years beginning on or after January 1, 2004, and
before January 1, 2005, the maximum credit allowed under ORS
317.152 may not exceed $500,000.
(2) For tax years beginning on or after January 1, 2005, and
before January 1, 2006, the maximum credit allowed under ORS
317.152 may not exceed $1 million.
(3) For tax years beginning on or after January 1, 2006, and
before January 1, 2007, the maximum credit allowed under ORS
317.152 may not exceed $1.5 million. + }
SECTION 12. ORS 317.154 is amended to read:
317.154. (1) A credit against taxes otherwise due under this
chapter shall be allowed for qualified research expenses that
exceed 10 percent of Oregon sales.
(2) For purposes of this section:
(a) 'Oregon sales' shall be computed using the laws and
administrative rules for calculating the numerator of the Oregon
sales factor under ORS 314.665.
(b) 'Qualified research' has the meaning given the term under
section 41(d) of the Internal Revenue Code and shall consist only
of research { - in the fields of advanced computing, advanced
materials, biotechnology, electronic device technology,
environmental technology or straw utilization, all as defined
under ORS 317.152, but only to the extent that such research
is - } conducted in Oregon.
(3) The credit under this section is equal to five percent of
the amount by which the qualified research expenses exceed 10
percent of Oregon sales.
(4) The credit under this section shall not exceed $10,000
times the number of percentage points by which the qualifying
research expenses exceed 10 percent of Oregon sales.
(5) The maximum credit under this section { - shall - } { +
may + } not exceed { - $500,000 - } { + $2 million + }.
(6) Any tax credit that is otherwise allowable under this
section and that is not used by the taxpayer in that year may be
carried forward and offset against the taxpayer's tax liability
for the next succeeding tax year. Any credit remaining unused in
such next succeeding tax year may be carried forward and used in
the second succeeding tax year, and likewise any credit not used
in that second succeeding tax year may be carried forward and
used in the third succeeding tax year, and any credit not used in
that third succeeding tax year may be carried forward and used in
the fourth succeeding tax year, and any credit not used in that
fourth succeeding tax year may be carried forward and used in the
fifth succeeding tax year, but may not be carried forward for any
tax year thereafter.
SECTION 13. { + Notwithstanding ORS 317.154 (5):
(1) For tax years beginning on or after January 1, 2004, and
before January 1, 2005, the maximum credit allowed under ORS
317.154 may not exceed $500,000.
(2) For tax years beginning on or after January 1, 2005, and
before January 1, 2006, the maximum credit allowed under ORS
317.154 may not exceed $1 million.
(3) For tax years beginning on or after January 1, 2006, and
before January 1, 2007, the maximum credit allowed under ORS
317.154 may not exceed $1.5 million. + }
SECTION 14. { + The amendments to ORS 317.152 and 317.154 by
sections 10 and 12 of this 2003 Act apply to tax years beginning
on or after January 1, 2004. + }
SECTION 15. Section 6, chapter 911, Oregon Laws 1989, as
amended by section 14, chapter 746, Oregon Laws 1995, and section
1, chapter 548, Oregon Laws 2001, is amended to read:
{ + Sec. 6. + } ORS 317.152 to 317.154 and the amendments to
ORS 318.031 by section 5, chapter 911, Oregon Laws 1989, apply to
amounts paid or incurred in tax years beginning on or after
January 1, 1989 { - , and before January 1, 2008 - } .
SECTION 16. { + (1) The State Board of Higher Education shall
establish a signature research center within the Oregon
University System for the purpose of collaborative research
efforts among public and private institutions of higher education
within Oregon. The signature research center shall be jointly
managed and operated by the University of Oregon and Oregon State
University with collaboration from other participating research
institutions. The focus of the center shall be on the
development of multiscale materials and devices that are based on
synergistic combinations of nanotechnology and microtechnology.
(2) The center shall be used by research institutions and
private industry to develop materials, technology, products and
businesses that will:
(a) Commercialize multiscale systems applied to challenges
related to energy, chemistry, environment, biology and medicine;
and
(b) Support the growth of emerging markets and the creation of
new markets.
(3) The center shall:
(a) Have unique equipment and facilities that enhance the
capabilities of Oregon's research institutions and private
industry; and
(b) Provide testing and evaluation services to research
institutions and private industry.
(4) Through the center, the University of Oregon and Oregon
State University shall:
(a) Seek federal funds for research and development; and
(b) Work with research institutions conducting basic science
research and the businesses that use the materials, technology
and products developed at the center. + }
SECTION 17. { + (1) There is established in the General Fund
an account to be known as the Oregon State University Engineering
Capital Construction Remodel Account. Funds in the account shall
be used for the remodel of Graf Hall and adjacent buildings at
Oregon State University for a microproducts breakthrough
institute related to a signature research center.
(2) The account shall consist of federal and local government
funds made available to and funds donated to the Oregon
University System for the purpose of the Oregon State University
capital construction project described in subsection (1) of this
section.
(3) Moneys in the account shall be considered to be General
Fund moneys for purposes of section 1 (3), Article XI-G of the
Oregon Constitution, and are continuously appropriated for the
capital construction project described in subsection (1) of this
section. The account may not be credited with more than
$10,000,000 in proceeds from donations and federal and local
government funds. + }
SECTION 18. { + (1) There is established in the General Fund
an account to be known as the University of Oregon Integrative
Science Complex Account. Funds in the account shall be used for
the construction of a new integrative science complex building at
the University of Oregon for a multiscale materials and devices
laboratory and facilities related to a signature research center.
(2) The account shall consist of federal and local government
funds made available to and funds donated to the Oregon
University System for the purpose of the University of Oregon
integrative science complex building project described in
subsection (1) of this section.
(3) Moneys in the account shall be considered to be General
Fund moneys for purposes of section 1 (3), Article XI-G of the
Oregon Constitution, and are continuously appropriated for the
integrative science complex building project described in
subsection (1) of this section. The account may not be credited
with more than $10,000,000 in donations and federal and local
government funds. + }
SECTION 19. { + In addition to and not in lieu of any other
appropriation, there is appropriated to the Department of Higher
Education, for the biennium beginning July 1, 2003, out of the
General Fund, the amount of $10,000,000, which may be expended by
the University of Oregon and Oregon State University for expenses
related to the signature research center created under section 16
of this 2003 Act. + }
SECTION 20. { + Notwithstanding any other law limiting
expenditures, the amount of $40,000,000 is established as the
maximum limit for payment of expenses under this section from the
proceeds of bonds and other revenue sources, including federal
funds, by the Department of Higher Education for the acquisition
of land and improvements to land and the acquisition, planning,
constructing, altering, repairing, furnishing and equipping of
buildings and facilities related to the signature research center
created under section 16 of this 2003 Act. Within this total
expenditure limitation there are established maximum limits for
expenditures as follows:
(1) For the University of Oregon integrative science complex
building related to the signature research center:
(a) $10,000,000 from proceeds from the sale of bonds pursuant
to Article XI-G of the Oregon Constitution; and
(b) $10,000,000 from other revenues, including federal funds.
(2) For an Oregon State University capital construction project
related to the signature research center:
(a) $10,000,000 from proceeds from the sale of bonds pursuant
to Article XI-G of the Oregon Constitution; and
(b) $10,000,000 from other revenues, including federal
funds. + }
SECTION 21. { + The project approvals and expenditure
limitations in sections 20 and 22 of this 2003 Act expire on June
30, 2009, unless changed by the Emergency Board or the
Legislative Assembly. + }
SECTION 22. { + (1) Pursuant to Article XI-G of the Oregon
Constitution and ORS 351.345, the State Board of Higher Education
may sell, with the approval of the State Treasurer, such general
obligation bonds of the State of Oregon of the kind and character
and within the limits prescribed by Article XI-G of the Oregon
Constitution, as the board determines, but in no event may the
board sell more than the aggregate principal sum of $20,000,000
par value for the biennium beginning July 1, 2003. The moneys
realized from the sale of the bonds under this section shall be
appropriated and may be expended for the purposes set forth in
section 20 (1)(a) and (2)(a) of this 2003 Act.
(2) The authorization for the issuance of general obligation
bonds under subsection (1) of this section is in addition to any
other authorization given to the State Board of Higher Education
for the sale of general obligation bonds.
(3) In compliance with the requirements of Article XI-G of the
Oregon Constitution, funds available under the expenditure
limitation for bonds issued pursuant to Article XI-G of the
Oregon Constitution in section 20 (1)(a) of this 2003 Act are
matched with the General Fund appropriation made under section 18
of this 2003 Act.
(4) In compliance with the requirements of Article XI-G of the
Oregon Constitution, funds available under the expenditure
limitation for bonds issued pursuant to Article XI-G of the
Oregon Constitution in section 20 (2)(a) of this 2003 Act are
matched with the General Fund appropriation made under section 17
of this 2003 Act. + }
SECTION 23. { + Notwithstanding the expenditure limitations
made by section 20 of this 2003 Act, the State Board of Higher
Education may increase any limit for expenditures of other
revenue sources, including federal funds, but excluding proceeds
from lottery bonds, prescribed by section 20 of this 2003 Act for
a specific project, if the expenditure limitation for bonds
issued pursuant to Article XI-G of the Oregon Constitution for
the project is reduced by the board in the same amount. + }
SECTION 24. Section 7, chapter 519, Oregon Laws 2001, is
amended to read:
{ + Sec. 7. + } Sections 1 to 6 { - of this 2001 Act - }
{ + , chapter 519, Oregon Laws 2001, + } are repealed on January
2, { - 2006 - } { + 2008 + }.
SECTION 25. { + This 2003 Act takes effect on the 91st day
after the date on which the regular session of the Seventy-second
Legislative Assembly adjourns sine die. + }
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