Oregon House Joint Resolution 6 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Unknown
Status: Failed on July 6 2015 - 100% progression
Action: 2015-07-06 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Establishes Stability Fund. Directs that revenues from capital gains taxes and estate taxes be deposited in fund. Requires that amount equal to one percent of General Fund appropriations for biennium be transferred from Stability Fund to Oregon Rainy Day Fund each biennium. Transfers remainder of Stability Fund to State School Fund each biennium. Transfers all moneys in Stability Fund to Oregon Rainy Day Fund if revenues received from General Fund revenue sources exceed revenue estimate for biennium by two percent or more. Reduces amount of transfer to Oregon Rainy Day Fund and transfers remaining moneys in Stability Fund to General Fund if revenue forecast projects revenues will be at least two percent below revenue estimate for biennium. Applies to biennia beginning on or after July 1, 2017. Refers proposed amendment to people for their approval or rejection at next regular general election.

Proposing amendment to Oregon Constitution relating to state finance.

No sponsor information available at this time.

Date	Chamber	Action
2015-07-06	House	In committee upon adjournment.
2015-01-16	House	Referred to Revenue with subsequent referral to Rules.
2015-01-12	House	First reading. Referred to Speaker's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2015R1/Measures/Overview/HJR6
Text	https://olis.oregonlegislature.gov/liz/2015R1/Downloads/MeasureDocument/HJR6/Introduced