Chapter 580 Oregon Laws 2005

AN ACT

SB 5573

Relating to state financial administration; 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 Department of Revenue, for the biennium beginning July 1, 2005, out of the General Fund, the amount of $125,446,345 for the purpose of administrative expenses.

SECTION 2. In addition to and not in lieu of any other appropriation, there is appropriated to the Department of Revenue, for the biennium beginning July 1, 2005, out of the General Fund, the amount of $8,000,000 for the purpose of making payments authorized by ORS 307.244 and 310.630 to 310.706 for the elderly rental assistance program.

SECTION 3. In addition to and not in lieu of any other appropriation, there is appropriated to the Department of Revenue, for the biennium beginning July 1, 2005, out of the General Fund, the amount of $1 for the purpose of making payments related to the deferred collection of homestead property taxes pursuant to the property tax deferral program described in ORS 311.666 to 311.701 and to special assessments described in ORS 311.702 to 311.735.

SECTION 4. After July 1, 2005, if the amount appropriated by section 3 of this 2005 Act plus the balance in the Senior Property Tax Deferral Revolving Account is not sufficient to make the payments required by ORS 311.701 (1), the State Treasurer shall advance to the Department of Revenue, as an investment of the General Fund, such amounts as may be necessary to make such payments during the biennium beginning July 1, 2005. Any moneys so advanced shall be repaid in accordance with ORS 311.701 (6) with interest thereon computed at the rate described in ORS 311.674 (3).

SECTION 5. Notwithstanding any other law limiting expenditures, the amount of $28,993,814 is established for the biennium beginning July 1, 2005, as the maximum limit for payment of expenses from fees, moneys or other revenues, including Miscellaneous Receipts, except those deposited in the Multistate Tax Commission Revolving Account and the Senior Property Tax Deferral Revolving Account, but excluding lottery funds and federal funds, collected or received by the Department of Revenue.

SECTION 6. For the biennium beginning July 1, 2005, expenditures by the Department of Revenue for expenses of the Multistate Tax Commission are not limited.

SECTION 7. This 2005 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2005 Act takes effect July 1, 2005.

Approved by the Governor July 20, 2005

Filed in the office of Secretary of State July 20, 2005

Effective date July 20, 2005

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