Relating to a reserve fund; prescribing an effective date; and providing for revenue raising that requires approval by a three-fifths majority.


 
 
 
     75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
 
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 3857
 
                         House Bill 3499
 
Sponsored by Representatives CAMERON, HANNA, MAURER
 
 
                             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.
 
  Establishes Oregon Other Funds Reserve Fund. Transfers amounts
from dedicated or continuously appropriated Other Funds accounts
or funds to reserve fund. Transfers interest from reserve fund to
State School Fund. Specifies circumstances under which amounts
transferred to reserve fund may be modified or appropriated.
  Takes effect on 91st day following adjournment sine die.
 
                        A BILL FOR AN ACT
Relating to a reserve fund; prescribing an effective date; and
  providing for revenue raising that requires approval by a
  three-fifths majority.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + As used in sections 2 to 4 of this 2009 Act, '
state agency' has the meaning given that term in ORS 291.322. + }
  SECTION 2.  { + (1) The Oregon Other Funds Reserve Fund is
established in the State Treasury, separate and distinct from the
General Fund. Except as provided in section 4 of this 2009 Act,
interest earned by the Oregon Other Funds Reserve Fund shall be
credited to the fund.
  (2) Subject to action by the Emergency Board under subsection
(3) of this section, on July 1 of each odd-numbered year or the
next business day following adjournment sine die of the regular
session of the Legislative Assembly, whichever is later, each
state agency administering a statutory fund or account that
includes fees, moneys or other revenues, including Miscellaneous
Receipts, but excluding lottery funds and federal funds,
collected or received by the state agency that are dedicated or
continuously appropriated to the agency by statute for the uses
and purposes of the agency, shall transfer from the fund or
account to the Oregon Other Funds Reserve Fund an amount equal to
the ending balance of the fund or account, minus 12.5 percent of
the amount the agency is authorized by the Legislative Assembly
to spend from the fund or account for the biennium beginning on
July 1 of that year.
  (3) Upon request of a state agency, the Emergency Board may,
for the biennium beginning on July 1 of that year, authorize a
state agency to retain, in a fund or account described in
subsection (2) of this section, an amount exceeding 12.5 percent
of the amount the agency is authorized by the Legislative
Assembly to spend from the fund or account for the biennium.
 
  (4) For purposes of section 3 (1)(b), Article III of the Oregon
Constitution, and ORS 291.326 (1)(b), the amount a state agency
may retain under this section in a fund or account described in
subsection (2) of this section is considered to be part of the
budget of the agency as approved in accordance with law.
  (5) Subsections (1) to (4) of this section do not apply to:
  (a) Funds or accounts that receive moneys appropriated from the
General Fund;
  (b) Funds or accounts established by the Oregon Constitution or
whose expenditures are limited or otherwise directed by
provisions of the Oregon Constitution;
  (c) Federal funds or lottery funds deposited in any fund or
account that includes dedicated or continuously appropriated
moneys; or
  (d) Dedicated or continuously appropriated moneys in a fund or
account described in subsection (2) of this section that are
authorized by law to be expended without limitation. + }
  SECTION 3.  { + (1) On July 1 of each calendar year, the Oregon
Department of Administrative Services shall calculate the amount
of interest that is attributable to moneys in the Oregon Other
Funds Reserve Fund as of that date. The department shall transfer
the amount calculated under this subsection from the reserve fund
to the State School Fund established by ORS 327.008.
  (2) The department shall maintain a record of the amounts each
state agency transfers to the reserve fund. + }
  SECTION 4.  { + The Legislative Assembly may appropriate moneys
from the Oregon Other Funds Reserve Fund for the benefit of a
state agency if the appropriation is approved by three-fifths of
the members serving in each house of the Legislative
Assembly. + }
  SECTION 5.  { + Notwithstanding section 2 (2) of this 2009 Act,
a state agency as defined in ORS 291.322 shall first transfer
moneys to the Oregon Other Funds Reserve Fund under section 2 of
this 2009 Act not later than 30 business days after the effective
date of this 2009 Act. + }
  SECTION 6.  { + This 2009 Act takes effect on the 91st day
after the date on which the regular session of the Seventy-fifth
Legislative Assembly adjourns sine die. + }
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