Chapter 579 Oregon Laws 2011

AN ACT

SB 5528

Relating to the financial administration of the Oregon Business Development Department; appropriating money; limiting expenditures; and declaring an emergency.

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

SECTION 1. There is appropriated to the Oregon Business Development Department, for the biennium beginning July 1, 2011, out of the General Fund, the amount of $3,852,524 for the Oregon Arts Commission. The department may expend up to 54 percent of the amount appropriated under this section during the period beginning July 1, 2011, and ending June 30, 2012.

SECTION 2. Notwithstanding any other law limiting expenditures, the following amounts are established for the biennium beginning July 1, 2011, 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 Oregon Business Development Department, for the following purposes:

(1) Business, innovation and trade $ 8,744,839

(2) Infrastructure financing $ 7,220,305

(3) Shared services $ 955,321

(4) Arts and Cultural Trust $ 6,542,459

(5) Debt service $ 1,797,848

SECTION 3. (1) Notwithstanding any other law limiting expenditures, the following amounts are established for the biennium beginning July 1, 2011, as the maximum limits for payment of expenses from lottery moneys allocated from the Administrative Services Economic Development Fund to the Oregon Business Development Department, for the following purposes:

(a) Business, innovation and trade $ 47,760,821

(b) Shared services $ 6,822,694

(c) Oregon Film and Video Office $ 1,207,893

(d) Debt service $ 86,906,344

(2) The department may expend up to 54 percent of the amount established under subsection (1)(a) to (c) of this section during the period beginning July 1, 2011, and ending June 30, 2012. The department may expend up to 63 percent of the amount established under subsection (1)(d) of this section during the period beginning July 1, 2011, and ending June 30, 2012.

SECTION 4. Notwithstanding any other law limiting expenditures, the following amounts are established for the biennium beginning July 1, 2011, as the maximum limits for payment of expenses from federal funds collected or received by the Oregon Business Development Department, for the following purposes:

(1) Business, innovation and trade $ 20,065,717

(2) Infrastructure financing $ 28,314,005

(3) Arts $ 1,793,093

SECTION 5. For the biennium beginning July 1, 2011, expenditures by the Oregon Business Development Department are not limited for:

(1) Loans from the following funds:

(a) Oregon Business Development Fund (ORS 285B.092), Oregon

Entrepreneurial Development Loan Fund (ORS 285B.758), Credit Enhancement Fund (ORS 285B.215) and Brownfields Redevelopment Fund (ORS 285A.188); and

(b) Special Public Works Fund (ORS 285B.455), Water Fund (ORS 285B.563), Marine Navigation Improvement Fund (ORS 777.267), Oregon Port Revolving Fund (ORS 285A.708) and Safe Drinking Water Revolving Loan Fund (ORS 285A.213).

(2) Debt service, excluding debt service on lottery revenue bonds.

SECTION 6. 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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