72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
SA to SB 855
 
LC 3465/SB 855-3
 
                      SENATE AMENDMENTS TO
                         SENATE BILL 855
 
              By JOINT COMMITTEE ON WAYS AND MEANS
 
                           February 28
 
  On page 1 of the printed bill, delete lines 5 through 15 and
insert:
  '  { +  SECTION 1. + }  { + (1) The Legislative Assembly finds
that the March 2003 quarterly economic and revenue forecast
issued on February 28, 2003, by the Office of Economic Analysis
of the Oregon Department of Administrative Services met the
conditions described in section 4 (6)(a)(C), Article XV of the
Oregon Constitution, for the 2001-2003 biennium.
  ' (2) Based on the findings under subsection (1) of this
section and in addition to and not in lieu of the moneys
transferred under section 4 (9), Article XV of the Oregon
Constitution, pursuant to section 4 (6), Article XV of the Oregon
Constitution, the State Treasurer shall transfer moneys from the
Education Stability Fund established under section 4 (4)(d),
Article XV of the Oregon Constitution, and ORS 348.696 to the
State School Fund established under ORS 327.008.
  ' (3) The State Treasurer shall make the transfer of moneys
required under subsection (2) of this section on April 1, 2003,
and May 1, 2003.
  ' (4) The total amount of moneys that the State Treasurer shall
transfer pursuant to subsections (2) and (3) of this section
shall equal $112,000,000.
  ' (5) Moneys transferred under this section may be used in the
manner provided by ORS 327.008 for moneys in the State School
Fund. + } ' .
  In line 17, delete 'transfer' and insert 'transfers'.
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