Chapter 541 Oregon Laws 2011

AN ACT

HB 5043

Relating to the financial administration of the Oregon Student Assistance Commission; appropriating money; limiting expenditures; and declaring an emergency.

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

SECTION 1. There are appropriated to the Oregon Student Assistance Commission, for the biennium beginning July 1, 2011, out of the General Fund, the following amounts, of which the commission may expend up to 54 percent during the period beginning July 1, 2011, and ending June 30, 2012, for the following purposes:

(1) Oregon Opportunity Grants $ 96,764,828

(2) Other payments to individuals

and institutions $ 941,624

(3) Operations $ 2,090,798

(4) Office of Degree Authorization $ 127,981

SECTION 2. Notwithstanding any other law limiting expenditures, the amount of $21,463,316 is established for the biennium beginning July 1, 2011, as the maximum limit for payment of expenses from fees, moneys or other revenues, including Miscellaneous Receipts, but excluding lottery moneys allocated from the Education Stability Fund for Oregon Opportunity Grants and federal funds, collected or received by the Oregon Student Assistance Commission.

SECTION 3. Notwithstanding any other law limiting expenditures, the amount of $2,630,172 is established for the biennium beginning July 1, 2011, as the maximum limit for payment of expenses from lottery moneys allocated from the Education Stability Fund to the Oregon Student Assistance Commission for Oregon Opportunity Grants.

SECTION 4. This 2011 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2011 Act takes effect July 1, 2011.

Approved by the Governor June 28, 2011

Filed in the office of Secretary of State June 29, 2011

Effective date July 1, 2011

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