70th OREGON LEGISLATIVE ASSEMBLY--1999 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 3169-1

                        Senate Bill 1130

Sponsored by COMMITTEE ON TRADE AND ECONOMIC DEVELOPMENT (at the
  request of Senator Mae Yih)


                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Reduces 1997-1999 allocation of lottery revenues for China
trade office.
  Allocates lottery revenues to Economic Development Department
for 1999-2001 biennium for China trade office.
  Limits expenditures of lottery revenues for China trade office.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to allocation of lottery revenues for a trade office in
  China; limiting expenditures; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + On June 30, 1999, the allocation from the
Administrative Services Economic Development Fund made by section
4 (7), chapter 868, Oregon Laws 1997, for the biennium ending
June 30, 1999, to the Economic Development Department for the
Oregon trade office in Shanghai, China, is reduced by $167,000
and such amount is transferred to the Administrative Services
Economic Development Fund. + }
  SECTION 2.  { + (1) There is allocated from the Administrative
Services Economic Development Fund to the Economic Development
Department the amount of $280,000 for the purpose of establishing
an Oregon trade office in Shanghai, China.
  (2) An allocation of moneys from the Administrative Services
Economic Development Fund under this section is subject to the
requirements in section 4, Article XV of the Oregon Constitution,
for the deposit of 15 percent of the net proceeds from the Oregon
State Lottery into the Education Endowment Fund and into the
parks and natural resources fund and shall be made only after
satisfaction or payment of:
  (a) Amounts allocated to Westside lottery bonds issued under
ORS 391.140 or to the reserves or any refunding related to the
Westside lottery bonds in accordance with the priority for
allocation and disbursement established by ORS 391.130;
  (b) All liens, pledges or other obligations relating to lottery
bonds or refunding lottery bonds that are due or payable during
the biennium ending June 30, 2001; and
  (c) Amounts required by any other pledges of, or liens on, net
proceeds from the Oregon State Lottery. + }
  SECTION 3.  { + The amount of $280,000 is established for the
biennium beginning July 1, 1999, as the maximum limit for payment
of expenses by the Economic Development Department from the
Administrative Services Economic Development Fund for the
establishment of an Oregon trade office in Shanghai, China. + }
  SECTION 4.  { + 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 on its
passage. + }
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