72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
Note: For budget, see 2003-05 Biennial Budget
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 9544
 
                        Senate Bill 5544
 
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.
 
  Limits biennial expenditures from fees, moneys or other
revenues, including Miscellaneous Receipts, but excluding lottery
funds and federal funds, collected or received by Treasurer of
State.
  Excludes from expenditure limitation expenditures by Treasurer
of State to pay for cash management and investment services.
  Declares emergency, effective July 1, 2003.
 
                        A BILL FOR AN ACT
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 amount of $19,895,846 is established for the
biennium beginning July 1, 2003, as the maximum limit 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. + }
  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. + }
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