Chapter 627 Oregon Laws 2011

AN ACT

HB 5048

Relating to the financial administration of the State Treasurer; limiting expenditures; and declaring an emergency.

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

SECTION 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 fees, moneys or other revenues, including Miscellaneous Receipts, but excluding lottery funds and federal funds, collected or received by the State Treasurer, for the following purposes:

(1) Administrative expenses of

State Treasury operations $ 31,572,698

(2) Administrative expenses of

the Oregon 529 College

Savings Network $ 3,522,192

SECTION 2. For the biennium beginning July 1, 2011, expenditures made by the State Treasurer to pay for cash management services are not limited.

SECTION 3. 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 July 6, 2011

Filed in the office of Secretary of State July 6, 2011

Effective date July 6, 2011

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