Bill Text: OR HB3462 | 2013 | Regular Session | Introduced

Oregon House Bill 3462 (Prior Session Legislation)

Bill Title: Relating to the distribution of Oregon State Lottery proceeds; prescribing an effective date.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB3462 Detail]

Download: Oregon-2013-HB3462-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 3778-1

                         House Bill 3462

Sponsored by Representative HICKS

                             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.

  Makes conforming changes necessitated by amendment to Oregon
Constitution proposed by House Joint Resolution 33 (2013).
  Takes effect only if House Joint Resolution 33 (2013) is
approved by people at next regular general election.
  Takes effect on effective date of constitutional amendment
proposed in House Joint Resolution 33 (2013).

                        A BILL FOR AN ACT
Relating to the distribution of Oregon State Lottery proceeds;
  amending ORS 348.696; and prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 348.696 is amended to read:
  348.696. Pursuant to  { + Article XV, + } section 4
 { - (4)(d) - }  { +  (4)(e) + },
  { - Article XV - }  of the Oregon Constitution, the Education
Stability Fund is established separate and distinct from the
General Fund.  Moneys in the Education Stability Fund shall be
invested as provided in ORS 293.701 to 293.790. All declared
earnings on moneys in the fund shall be transferred and are
appropriated continuously as follows:
  (1) 75 percent to the Oregon Education Fund established by ORS
348.716; and
  (2) 25 percent to the Oregon Student Access Commission for the
Oregon Opportunity Grant program under ORS 348.260.
  SECTION 2.  { + This 2013 Act does not become effective unless
the amendment to the Oregon Constitution proposed by House Joint
Resolution 33 (2013) is approved by the people at the regular
general election held in November 2014. This 2013 Act becomes
effective on the effective date of that amendment. + }
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