Chapter 287 Oregon Laws 2009

AN ACT

SB 5550

Relating to financial administration of the State Treasurer; 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, 2009, 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 State Treasurer, for the following purposes:

(1)    Administrative expenses of

              State Treasury operations               $ 28,047,822

      (2)    Performance-based compensation

              bonuses for agency personnel         $ 604,826

      (3)    Administrative expenses of

              the Oregon 529 College Savings

              Network                                            $ 3,432,561

SECTION 2. For the biennium beginning July 1, 2009, expenditures made by the State Treasurer to pay for cash management services are not limited.

SECTION 3. This 2009 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2009 Act takes effect July 1, 2009.

Approved by the Governor June 16, 2009

Filed in the office of Secretary of State June 16, 2009

Effective date July 1, 2009

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