Chapter 1043 Oregon Laws
1999
Session Law
AN ACT
SB 194
Relating to financial
administration of public funds; creating new provisions; amending ORS 286.020,
286.025, 293.292, 293.353, 293.718, 294.865, 294.882, 469.030 and 469.040; and
declaring an emergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1.
ORS 293.353 is amended to read:
293.353. (1) As [reimbursements] payment for expenses [incurred
in] of processing
banking-related transactions, the State Treasurer may charge each state agency
having such transactions involving the State Treasury. The amount so charged
shall be determined by the number of transactions processed by the State
Treasurer and shall be [billed to the
state agency at least quarterly]
paid in the manner determined by the State Treasurer to be most efficient and
cost effective. The proceeds from such charges shall be deposited in the
Miscellaneous Receipts Account established in the General Fund for the State
Treasurer, and such proceeds are continuously appropriated for payment of
expenses of the office of the State Treasurer [incurred] in processing banking-related transactions.
(2) When the State
Treasurer transfers the assets of the local government investment pool to the
state investment fund established under ORS 293.701 (2)(o) as authorized by ORS
294.882, "state agency," as used in this section, includes local
government participants in the state investment fund.
SECTION 2.
ORS 293.718 is amended to read:
293.718. As [reimbursement] payment for expenses [incurred as] of the investment officer, the State Treasurer may deduct monthly a maximum of 0.25 basis points of the
most recent market value of assets under management for each of the investment
funds. However, for the funds described
in ORS 293.701 (2)(o), a maximum of 0.435 basis points may be deducted monthly.
Amounts so deducted shall be deposited in the Miscellaneous Receipts Account
established in the General Fund for the State Treasurer, and are appropriated
for payment of the expenses of the [office
of] State Treasurer[, incurred]
as investment officer.
SECTION 3.
ORS 294.865 is amended to read:
294.865. The State Treasurer may deduct monthly a maximum of [0.25] 0.435 basis points of the most recent market value of assets under
the management of the investment pool. Amounts so deducted shall [reimburse] pay the State Treasurer for expenses of the State Treasurer [incurs]
as investment officer and to the extent [they]
the amounts deducted are so used
shall be deposited in the Miscellaneous Receipts Account established in the
General Fund for the State Treasurer, and are appropriated for payment of the
expenses of the [office of] State
Treasurer[, incurred] as investment
officer.
SECTION 4.
ORS 286.020 is amended to read:
286.020. A fee, to be established by the State Treasurer
commensurate with expenses [incurred],
may be charged for each registered bond issued in exchange for one or more
bonds, or for one or more bonds previously registered, or for each registered
bond issued as a submultiple of the principal of a bond previously registered.
The State Treasurer may collect from owners of bonds sent in for registration,
and from transferees of registered bonds,
the fee for expenses [incurred]
for postage, postal registry fees and postal insurance on bonds mailed to
owners and transferees.
SECTION 5.
ORS 286.025 is amended to read:
286.025. All moneys received under ORS 286.020 shall be
deposited in the Miscellaneous Receipts Account established in the General Fund
for the State Treasurer. The State Treasurer may draw warrants in payment of
vouchers and drawn against the account in payment of costs [incurred by] of the State Treasurer or of costs [incurred by] of the
financial institution appointed registrar as provided for in ORS 286.010 for
printing, postage, postal insurance, and for all other expenses [incurred in connection] connected with the registration,
reregistration or conversion to bearer form of bonds of the State of Oregon.
SECTION 6.
ORS 293.292 is amended to read:
293.292. As [reimbursement] payment for the expenses of the State
Treasurer [incurred] in administering bond and state debt
programs, making bond sales and processing bonds and interest coupons
payable from funds on deposit in the State Treasury, the State Treasurer is authorized
to charge state agencies [which] that issue such bonds for the expenses
[incurred in] of making such bond sales and processing such bonds and bond
interest coupons. Proceeds from such charges shall be deposited in the
Miscellaneous Receipts Account established in the General Fund for the State
Treasurer and are continuously appropriated for payment of the expenses of the
office of the State Treasurer.
SECTION 7.
ORS 294.882 is amended to read:
294.882. (1) It is recognized that a time [might] may come when the
interest of local governments diminishes to the extent that participation in
the local government investment pool no longer warrants its operation as a
separate fund. If the local government investment pool decreases to a level
below $125 million, the State Treasurer may transfer the assets of the pool to
the state investment fund established [pursuant
to] under ORS 293.701 (2)(o). In
that event, the local government investment pool participant accounts will be
treated as are other state funds and accounts in receiving a proportionate
share of the earnings of that investment fund. Notwithstanding ORS 294.860,
294.865, 294.870, 294.875 or 294.880, when the State Treasurer transfers the
assets of the local government investment pool to the state investment fund,
the distributions of income to local governments, payment of related expenses and the reporting, program
examination and audit functions with respect to the investment pool participant
accounts shall be administered in accordance with ORS 293.718, 293.751,
293.756, 293.761, 293.766, 293.771, 293.776 and 293.820.
(2) The State Treasurer, at the discretion of the treasurer may
reestablish the local government investment pool as a separate fund, if the
participant accounts increase to over $125 million and in the State Treasurer's
judgment, sufficient interest by local government exists to insure the local
government investment pool will remain over $125 million. Prior to
reestablishing the pool as a separate fund, the State Treasurer shall first
present a plan for operation, including the reasons for such action, to the
Oregon Investment Council at a regularly scheduled meeting for its review and
comment. The State Treasurer shall publish notice in the Secretary of State's
administrative rules bulletin of the treasurer's intent to reestablish the pool
as a separate fund at least 30 days prior to the meeting at which the Oregon
Investment Council shall review the proposal, and notice of the meeting time
and location of the Oregon Investment Council at which the proposal will be
discussed.
SECTION 8. If the expenses of the State Treasurer for
managing investment funds described in ORS 293.701 (2)(o) exceed, for any month
in a calendar year, 0.25 basis points of the most recent market value of the
assets under management, the State Treasurer shall prepare a written report for
that calendar year that describes and summarizes the management activities and
management costs of the State Treasurer during the year. The report shall also
contain a comparison of the management costs of the State Treasurer with the
management costs of private persons engaged in the business of managing
investment funds that have a market value comparable to the market value of the
investment funds described in ORS 293.701 (2)(o). The report shall be submitted
to the Governor, the Legislative Fiscal Officer, the Emergency Board and, upon
request, to any other person.
SECTION 9.
ORS 469.030 is amended to read:
469.030. (1) There is created the Office of Energy [within the Department of Consumer and
Business Services].
(2) The Office of Energy shall:
(a) Be the central repository within the state government for
the collection of data on energy resources;
(b) Endeavor to utilize all public and private sources to
inform and educate the public about energy problems and ways in which the
public can conserve energy resources;
(c) Engage in research, but whenever possible, contract with
appropriate public or private agencies and dispense funds for research projects
and other services related to energy resources, except that the Office of
Energy shall endeavor to avoid duplication of research whether completed or in
progress;
(d) Qualify for, accept and disburse or utilize any private or
federal moneys or services available for the administration of ORS 176.820,
192.501 to 192.505, 192.690, 469.010 to 469.225, 469.300 to 469.563, 469.990,
757.710 and 757.720;
(e) Administer federal and state energy allocation and
conservation programs and energy research and development programs and apply
for and receive available funds therefor;
(f) Be a clearinghouse for energy research to which all
agencies shall send information on all energy related research;
(g) Prepare contingent energy programs to include all forms of
energy not otherwise provided pursuant to ORS 757.710 and 757.720;
(h) Maintain an inventory of energy research projects in Oregon
and the results thereof;
(i) Collect, compile and analyze energy statistics, data and
information;
(j) Contract with public and private agencies for energy
activities consistent with ORS 469.010 and this section; and
(k) Upon request of the governing body of any affected
jurisdiction, coordinate a public review of a proposed transmission line
according to the provisions of ORS 469.442.
SECTION 10.
ORS 469.040 is amended to read:
469.040. (1) The Office of Energy shall be under the
supervision of the administrator of the Office of Energy who shall:
(a) Supervise the day-to-day functions of the Office of Energy;
(b) Supervise and facilitate the work and research on energy
facility siting applications at the direction of the Energy Facility Siting
Council;
(c) Hire, assign, reassign and coordinate personnel of the
Office of Energy, prescribe their duties and fix their compensation, subject to
the State Personnel Relations Law; and
(d) Adopt rules and issue orders to carry out the duties of the
administrator and the Office of Energy in accordance with ORS 183.310 to
183.550 and the policy stated in ORS 469.010.
(2) The administrator may delegate to any officer or employee
the exercise and discharge in the administrator's name of any power, duty or
function of whatever character vested in the administrator by law. The official
act of any person acting in the administrator's name and by the administrator's
authority shall be considered an official act of the administrator.
(3) The administrator shall be appointed by the [Director of the Department of Consumer and
Business Services as provided in ORS 705.115] Governor.
SECTION 11. (1) For the purpose of payment of expenses
incurred in carrying out its duties, functions and powers, the Office of Energy
may expend moneys authorized to be expended by the Office of Energy in the
Department of Consumer and Business Services that are unexpended on the effective
date of this 1999 Act.
(2) Notwithstanding any
other law, that portion of the expenditure authority for payment of
administrative expenses and other expenses from federal funds set forth in
sections 1 and 3, chapter 404, Oregon Laws 1999 (Enrolled House Bill 5012),
that is intended by the Legislative Assembly for the support of the activities
and programs conducted by the Office of Energy in the Department of Consumer
and Business Services is transferred and granted to the Office of Energy.
(3) All rights and
obligations of the Office of Energy in the Department of Consumer and Business
Services legally incurred before the effective date of this 1999 Act are
transferred to the Office of Energy.
SECTION 12. Section 8 of this 1999 Act is repealed on December
31, 2001.
SECTION 13. This 1999 Act being necessary for the
immediate preservation of the public peace, health and safety, an emergency is
declared to exist, and this 1999 Act takes effect July 1, 1999.
Approved by the Governor
September 1, 1999
Filed in the office of
Secretary of State September 1, 1999
Effective date September 1,
1999
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