Chapter 872 Oregon Laws 2009

AN ACT

HB 2012

Relating to school capital matching subaccount; creating new provisions; amending ORS 461.540; repealing section 1, chapter 882, Oregon Laws 2007; and declaring an emergency.

Be It Enacted by the People of the State of Oregon:

SECTION 1. (1) As used in this section, “lottery ending balance” means an amount that equals the difference between:

          (a) The amount of moneys available for allocation in the Administrative Services Economic Development Fund during a biennium; and

          (b) The amount of allocations made from the fund during the biennium, including any amounts appropriated to the Oregon Department of Administrative Services under ORS 291.285 to maintain accountability of the fund.

          (2) As soon as practicable after the end of each biennium, the lottery ending balance shall be transferred to the school capital matching subaccount created within the Education Stability Fund by section 4 (8), Article XV of the Oregon Constitution.

SECTION 2. Section 1 of this 2009 Act applies to biennia beginning on or after July 1, 2009.

SECTION 3. ORS 461.540 is amended to read:

          461.540. (1) There [hereby] is established in the General Fund of the State Treasury the Administrative Services Economic Development Fund. All moneys transferred from the State Lottery Fund, interest earnings credited to this fund and other moneys authorized to be transferred to this fund from whatever source are appropriated continuously for any of the following public purposes:

          (a) Creating jobs;

          (b) Furthering economic development in Oregon; or

          (c) Financing public education.

          (2) Moneys shall be transferred from the Administrative Services Economic Development Fund to:

          (a) The Education Stability Fund established under ORS 348.696 as described in section 4, Article XV of the Oregon Constitution; and

          (b) The school capital matching subaccount created within the Education Stability Fund, as provided by section 1 of this 2009 Act.

          (3) As used in this section and section 4, Article XV of the Oregon Constitution:

          (a) “Creating jobs” includes, but is not limited to:

          (A) Supporting the creation of new jobs in Oregon;

          (B) Helping prevent the loss of existing jobs in Oregon;

          (C) Assisting with work transition to new jobs in Oregon; or

          (D) Training or retraining workers.

          (b) “Education” includes, but is not limited to, the Education Stability Fund established under ORS 348.696 and specific programs that support the following:

          (A) Prekindergartens;

          (B) Elementary and secondary schools;

          (C) Community colleges;

          (D) Higher education;

          (E) Continuing education;

          (F) Workforce training and education programs; or

          (G) Financial assistance to Oregon students.

          (c) “Furthering economic development” includes, but is not limited to, providing:

          (A) Services or financial assistance to for-profit and nonprofit businesses located or to be located in Oregon;

          (B) Services or financial assistance to business or industry associations to promote, expand or prevent the decline of their businesses; or

          (C) Services or financial assistance for facilities, physical environments or development projects, as defined in ORS 285B.410, that benefit Oregon’s economy.

SECTION 4. If House Bill 2013 becomes law, section 1, chapter 882, Oregon Laws 2007, is repealed.

SECTION 5. 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 on its passage.

Approved by the Governor August 4, 2009

Filed in the office of Secretary of State August 4, 2009

Effective date August 4, 2009

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