Bill Text: OR HB2315 | 2013 | Regular Session | Introduced

---

Bill Title: Relating to state finance.

Spectrum: Moderate Partisan Bill (Democrat 4-1)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB2315 Detail]

Download: Oregon-2013-HB2315-Introduced.html

---

     77th OREGON LEGISLATIVE ASSEMBLY--2013 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 895

                         House Bill 2315

Sponsored by Representative BARTON (Presession filed.)

                             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.

  Directs Legislative Assembly to appropriate amount equal to one
percent of total amount of General Fund appropriations and
lottery allocations for next biennium to both Oregon Rainy Day
Fund and Education Stability Fund if state unemployment rate for
previous year is six percent or less at time of last economic and
revenue forecast of biennium.
  Directs Legislative Assembly to appropriate amount equal to
three-fourths of one percent of total amount of General Fund
appropriations and lottery allocations for next biennium to both
Oregon Rainy Day Fund and Education Stability Fund if state
unemployment rate for previous year is more than six percent, but
not greater than seven percent, at time of last economic and
revenue forecast of biennium.

                        A BILL FOR AN ACT
Relating to state finance.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) If the Legislative Assembly determines at
the time of the last quarterly economic and revenue forecast
presented prior to the end of the regular legislative session
held in an odd-numbered year that the unemployment rate for the
entire state was six percent or less for the year immediately
preceding the date of the economic and revenue forecast, the
Legislative Assembly shall, for the biennium beginning July 1 of
the odd-numbered year:
  (a) Appropriate to the Oregon Rainy Day Fund established by ORS
293.144 an amount equal to one percent of the total amount of
General Fund appropriations plus allocations of lottery moneys
from the Administrative Services Economic Development Fund
established by ORS 461.540 made for the biennium beginning July 1
of the odd-numbered year; and
  (b) Appropriate to the Education Stability Fund established by
Article XV, section 4, of the Oregon Constitution, and ORS
348.696 an amount equal to one percent of the total amount of
General Fund appropriations plus allocations of lottery moneys
from the Administrative Services Economic Development Fund
established by ORS 461.540 made for the biennium beginning July 1
of the odd-numbered year.
  (2) If the Legislative Assembly determines at the time of the
last quarterly economic and revenue forecast presented prior to
the end of the regular legislative session held in an
odd-numbered year that the unemployment rate for the entire state
was greater than six percent, but not more than seven percent,
for the year immediately preceding the date of the economic and
revenue forecast, the Legislative Assembly shall, for the
biennium beginning July 1 of the odd-numbered year:
  (a) Appropriate to the Oregon Rainy Day Fund established by ORS
293.144 an amount equal to three-fourths of one percent of the
total amount of General Fund appropriations plus allocations of
lottery moneys from the Administrative Services Economic
Development Fund established by ORS 461.540 made for the biennium
beginning July 1 of the odd-numbered year; and
  (b) Appropriate to the Education Stability Fund established by
Article XV, section 4, of the Oregon Constitution, and ORS
348.696 an amount equal to three-fourths of one percent of the
total amount of General Fund appropriations plus allocations of
lottery moneys from the Administrative Services Economic
Development Fund established by ORS 461.540 made for the biennium
beginning July 1 of the odd-numbered year.
  (3) The Legislative Assembly is not required to make the
appropriation to the Education Stability Fund under subsection
(1) or (2) of this section if the amount in the Education
Stability Fund equals or exceeds five percent of the amount that
was accrued as revenues in the state's General Fund during the
prior biennium as described in Article XV, section 4 (5), of the
Oregon Constitution.
  (4) For purposes of this section, the unemployment rate for the
entire state is the rate as defined by the most recently
available data published or officially provided and verified by
the United States Government, the Employment Department, the
Portland State University Population Research Center or special
studies conducted under a contract with a regional academic
institution.
  (5) This section applies in addition to the transfer to the
Oregon Rainy Day Fund required by ORS 293.146.
  (6) As used in this section:
  (a) 'General Fund appropriations' means the amount of moneys
appropriated from the General Fund for a biennium in the
legislatively approved budget for the biennium, minus the amount
of any General Fund appropriation balances for that biennium that
revert to the General Fund under ORS 293.190.
  (b) 'Legislatively approved budget' has the meaning given that
term in ORS 291.002. + }
  SECTION 2.  { + Section 1 of this 2013 Act first applies to
appropriations that may be required to be made for the biennium
beginning July 1, 2015. + }
                         ----------