75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
 
SA to SB 5554
 
LC 9554/SB 5554-2
 
                      SENATE AMENDMENTS TO
                        SENATE BILL 5554
 
              By JOINT COMMITTEE ON WAYS AND MEANS
 
                             June 19
 
  In line 2 of the printed bill, delete 'and'.
  In line 3, before the period insert '; and providing for
transfer of moneys from the Education Stability Fund and
appropriation of moneys from the Oregon Rainy Day Fund that
require approval by a three-fifths majority'.
  Delete lines 5 through 18 and insert:
  '  { +  SECTION 1. + }  { + The Legislative Assembly finds that
there has been a decline for two or more consecutive quarters in
the last 12 months in seasonally adjusted nonfarm payroll
employment. + }
  '  { +  SECTION 2. + }  { + (1) Based on the findings in
section 1 of this 2009 Act, and pursuant to section 4 (6),
Article XV of the Oregon Constitution, on the effective date of
this 2009 Act, the balance of the Education Stability Fund
established by ORS 348.696 is transferred from the Education
Stability Fund to the State School Fund established by ORS
327.008 for the biennium ending June 30, 2009.
  ' (2) As used in this section, 'balance of the Education
Stability Fund' means all moneys in the fund except for moneys in
the Oregon Growth Account and the school capital matching
subaccount. + }
  '  { +  SECTION 3. + }  { + Based on the findings in section 1
of this 2009 Act, and pursuant to ORS 293.144, for the biennium
beginning July 1, 2009, two-thirds of the balance in the Oregon
Rainy Day Fund on July 1, 2009, is appropriated to the General
Fund to be available for general governmental purposes. + }
  '  { +  SECTION 4. + }  { + Notwithstanding any other law
limiting expenditures, for the biennium ending June 30, 2009, the
maximum limit for payment of expenses by the Department of
Education from lottery moneys transferred from the Education
Stability Fund to the State School Fund under section 2 of this
2009 Act is $393,950,531. + }
  '  { +  SECTION 5. + }  { + Notwithstanding any other provision
of law, the General Fund appropriation made to the Department of
Education by section 1, chapter 700, Oregon Laws 2007, for the
biennium ending June 30, 2009, for the State School Fund, as
modified by legislative or Emergency Board action, is decreased
by $393,950,531. + }
  '  { +  SECTION 6. + }  { + 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. + } ' .
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