74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
Note: For budget, see 2007-2009 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 9040
 
                         House Bill 5040
 
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (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 certain biennial expenditures from fees, moneys or other
revenues, including Miscellaneous Receipts, but excluding lottery
funds and federal funds, collected or received by Public
Employees Retirement System.
  Authorizes specified nonlimited expenditures.
  Declares emergency, effective July 1, 2007.
 
                        A BILL FOR AN ACT
Relating to financial administration of the Public Employees
  Retirement System; 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, 2007, 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 Public Employees
Retirement System, for the following purposes: + }
 
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
 
   { +
(1Administrative and
      operating expenses.82,267,097
  (2) Debt service....5,709,200 + }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
  SECTION 2.  { + For the biennium beginning July 1, 2007,
expenditures by the Public Employees Retirement System for
refunds, retirement benefits, deferred compensation and
individual account program payments, health insurance premiums,
health insurance premium subsidies, third party administrator
 
costs for health and individual account programs and Public
Employee Benefit Equalization Fund payments are not limited. + }
  SECTION 3.  { + This 2007 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2007 Act takes effect July 1,
2007. + }
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