OR SB996 | 2017 | Regular Session
Status
Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Failed on July 7 2017 - 100% progression
Action: 2017-07-07 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Failed on July 7 2017 - 100% progression
Action: 2017-07-07 - In committee upon adjournment.
Text: Latest bill text (Engrossed) [PDF]
Summary
Directs Department of Consumer and Business Services to design, implement, administer and operate savings program for post-secondary education expenses. Directs department to establish individual savings accounts for children born in Oregon to residents of this state at participating financial institutions. Provides that deposits may be made to savings account by department or by account beneficiary. Directs State Registrar of Center for Health Statistics to send to department each calendar quarter names of children born in Oregon to residents of this state. Establishes Oregon Bright Futures Fund. Continuously appropriates moneys in fund to department for purposes of savings program. Permits financial institutions to opt in to participation. Permits department to develop or acquire software for communicating with account beneficiaries and for viewing information regarding multiple financial accounts. Directs department to report to Legislative Assembly in 2020 and 2021 on implementation of Act. Exempts funds maintained by department under Act from public funds depository requirements. Becomes operative on January 1, 2018, or date on which department determines that sufficient moneys are available to carry out purposes of Act, whichever is later. Declares emergency, effective on passage.
Title
Relating to post-secondary education expenses; declaring an emergency.
Sponsors
| Sen. Arnie Roblan [D] | Rep. Karin Power [D] | Rep. Knute Buehler [R] | Rep. Janelle Bynum [D] |
| Sen. Mark Hass [D] |
Roll Calls
2017-04-18 - Senate - Senate Committee Do pass with amendments. Refer to Ways and Means by prior reference. (Printed A-Eng) (Y: 3 N: 2 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2017-07-07 | Senate | In committee upon adjournment. |
| 2017-04-19 | Senate | Referred to Ways and Means by prior reference. |
| 2017-04-19 | Senate | Recommendation: Do pass with amendments and be referred to Ways and Means by prior reference. (Printed A-Eng.) |
| 2017-04-18 | Senate | Work Session held. |
| 2017-04-04 | Senate | Public Hearing held. |
| 2017-03-03 | Senate | Referred to Education, then Ways and Means. |
| 2017-03-02 | Senate | Introduction and first reading. Referred to President's desk. |
