Bill Text: OR HB2322 | 2011 | Regular Session | Engrossed

Oregon House Bill 2322 (Prior Session Legislation)

Bill Title: Relating to allotment reductions; declaring an emergency.

Sponsorship: Moderate Partisan Bill (Democrat 7-1)

Status: (Failed) 2011-06-30 - In committee upon adjournment. [HB2322 Detail]

Download: Oregon-2011-HB2322-Engrossed.html



     76th OREGON LEGISLATIVE ASSEMBLY--2011 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 1785

                           A-Engrossed

                         House Bill 2322
                  Ordered by the House April 26
            Including House Amendments dated April 26

Sponsored by Representatives BARNHART, BUCKLEY, Senator MORSE;
  Representatives NATHANSON, READ, Senators BATES, BURDICK,
  DEVLIN (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.

  Prohibits Governor and Oregon Department of Administrative
Services from reducing allotments to Department of Revenue when
Oregon Department of Administrative Services declares projected
deficit in biennium.
   { +  Declares emergency, effective on passage. + }

                        A BILL FOR AN ACT
Relating to allotment reductions; amending ORS 291.261; and
  declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 291.261 is amended to read:
  291.261. (1) Notwithstanding the legislative policy and intent
declared in ORS 291.232, if the Oregon Department of
Administrative Services declares at any time during a biennium
that there is a projected deficit in that biennium, the
department may, with the approval of the Governor and in order to
prevent the deficit, reduce the amount allotted to state agencies
under ORS 291.234 to 291.260 from the General Fund in the manner
provided in subsection (2) of this section.
  (2)(a) In reducing allotments under this section, the
department and the Governor shall follow legislative funding
priorities as expressed in statutes and in the legislatively
adopted or approved budget for the biennium. Unless statutes or
the legislatively adopted or approved budget indicate otherwise,
the department and the Governor shall assume that all General
Fund appropriations have the same priority and shall reduce
allotments of General Fund moneys for each state agency receiving
General Fund moneys by the same percentage.
  (b) The department and the Governor may not reduce allotments
under this section by a total amount that exceeds the amount
necessary to bring the total estimated General Fund ending
balance to zero.
  (3) For purposes of this section, the department may declare
that there is a projected deficit if a quarterly estimate made as
provided in ORS 291.342 indicates that the projected balance in

the General Fund at the end of the biennium will be less than
zero.
  (4) Subsections (1) to (3) of this section do not apply to
 { +  the following:
  (a) + } An allotment, or a portion of an allotment, that is
designated by a state agency for the payment of debt service.
After an allotment that is designated by a state agency for the
payment of debt service is made, the department and the Governor
may not reduce the allotment or a portion of the allotment below
the amount needed for the payment of debt service in the
biennium.
   { +  (b) Allotments made to the Department of Revenue. + }
  (5) As used in this section:
  (a) 'Agreement for exchange of interest rates' has the meaning
given that term in ORS 286A.001.
  (b) 'Bond' has the meaning given that term in ORS 286A.001.
  (c) 'Credit enhancement device' has the meaning given that term
in ORS 286A.001.
  (d) 'Payment of debt service' means:
  (A) The payment of principal, interest or other amounts owed
under a bond;
  (B) The transfer, segregation or other disposition of moneys to
comply with bond payment amounts or required reserve amounts; or
  (C) The payment of amounts owed under an agreement for exchange
of interest rates, a credit enhancement device or a similar
instrument.
  SECTION 2.  { + This 2011 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2011 Act takes effect on its
passage. + }
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