75th OREGON LEGISLATIVE ASSEMBLY--2010 Special 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 44
                        Updated Sponsors

                         House Bill 3641

Sponsored by Representative RICHARDSON; Representatives CAMERON,
  FREEMAN, GILLIAM, HANNA, HUFFMAN, KRIEGER, SPRENGER, THATCHER,
  THOMPSON, WEIDNER, WHISNANT, WINGARD (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.

  Limits amount of biennial appropriations by Legislative
Assembly. Specifies what constitutes appropriation. Exempts
certain appropriations. Specifies when revenues that exceed
amount of limit are transferred to Oregon Rainy Day Fund.
Modifies conditions under which moneys may be appropriated from
Oregon Rainy Day Fund. Modifies limit on amount that may be
transferred to Oregon Rainy Day Fund.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to state financial administration; creating new
  provisions; amending ORS 293.144, 293.146 and 293.148; and
  declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) In addition to the provisions of ORS
291.357, the Legislative Assembly may not appropriate for a
biennium a total amount of money that exceeds the total amount
appropriated for the immediately preceding biennium by a
percentage equal to the total of:
  (a) The percentage increase in the Consumer Price Index for All
Urban Consumers of the Portland, Oregon, Metropolitan Statistical
Area, as compiled by the United States Department of Labor,
Bureau of Labor Statistics, for the previous calendar year; and
  (b) The estimated percentage increase in the population of this
state for the previous calendar year based on data published or
officially provided by the Portland State University Population
Research Center.
  (2) For purposes of this section, the following are considered
to be appropriations:
  (a) An authorization, given by law, to expend moneys in a
biennium;
  (b) A limitation, imposed by law, on the expenditure in a
biennium of moneys that are continuously appropriated; and
  (c) An estimate of amounts of moneys that are continuously
appropriated that will be spent in a biennium without limitation.
  (3) The following appropriations are not subject to the
limitation on appropriations contained in this section:

  (a) Appropriations of moneys voluntarily donated to a state
agency.
  (b) Appropriations of moneys from revenue increases or new
revenue sources if the increases or sources result from approval
of a measure by the people at an election held on or after the
effective date of this 2010 Act.
  (c) Appropriations to fund new programs or to increase funding
for existing programs if the need for new or increased funding
results from approval of a measure by the people at an election
held on or after the effective date of this 2010 Act. + }
  SECTION 2. ORS 293.144 is amended to read:
  293.144. (1) The Oregon Rainy Day Fund is established as an
account in the General Fund.
  (2) The Legislative Assembly may appropriate moneys from the
Oregon Rainy Day Fund only if { + :
  (a) + } The appropriation is approved by three-fifths of the
members serving in each house of the Legislative Assembly and the
Legislative Assembly finds one of the following:
    { - (a) - }   { + (A) + } That the last quarterly economic
and revenue forecast for a biennium indicates that moneys
available to the General Fund for the next biennium will be at
least three percent less than appropriations from the General
Fund for the current biennium;
    { - (b) - }   { + (B) + } That there has been a decline for
two or more consecutive quarters in the last 12 months in
seasonally adjusted nonfarm payroll employment; or
    { - (c) - }   { + (C) + } That a quarterly economic and
revenue forecast projects that revenues in the General Fund in
the current biennium will be at least two percent below what the
revenues were projected to be in the revenue forecast on which
the legislatively adopted budget for the current biennium was
based { + ; or
  (b) The appropriation is approved by three-fifths of the
members serving in each house of the Legislative Assembly and the
Governor declares an emergency + }.
  (3) Once each month, the Oregon Department of Administrative
Services shall calculate the amount of General Fund interest that
is attributable to moneys in the Oregon Rainy Day Fund. Except as
otherwise provided in ORS 293.148, the department shall transfer
the amount calculated under this subsection to the Oregon Rainy
Day Fund.
  (4) The Legislative Assembly may not appropriate for any one
biennium more than  { + the lesser of:
  (a) + } Two-thirds of the amount that is in the Oregon Rainy
Day Fund at the beginning of that biennium { + ; or
  (b) An amount that would result in total appropriations for the
biennium that exceeds the amount of the limit on appropriations
contained in section 1 of this 2010 Act + }.   { - If the
appropriation is for a biennium that has not yet begun, the
Legislative Assembly may use as the base the most recent estimate
of the amount that will be in the Oregon Rainy Day Fund at the
beginning of the biennium for which the appropriation is
made. - }
  (5) As used in this section, 'legislatively adopted budget '
has the meaning given that term in ORS 291.002.
  SECTION 3. ORS 293.146 is amended to read:
  293.146. (1) As used in this section:
  (a) 'Ending balance' means the difference between the amount of
General Fund revenues collected during a biennium and the amount
of General Fund appropriations for the biennium.
  (b) '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.

  (c) 'Legislatively approved budget' has the meaning given that
term in ORS 291.002.
  (2) Except as provided in ORS 293.148, as soon as possible
after the ending balance for a biennium is determined,   { - an
amount equal to one percent of the amount of General Fund
appropriations - }  { + if the amount of General Fund revenues
exceeds the amount of the limit on appropriations contained in
section 1 of this 2010 Act, the amount of the ending balance
 + }for that biennium shall be transferred to the Oregon Rainy
Day Fund established by ORS 293.144.   { - If the ending balance
does not equal or exceed one percent of the amount of General
Fund appropriations, an amount equal to the ending balance shall
be transferred to the Oregon Rainy Day Fund. - }
  SECTION 4. ORS 293.148 is amended to read:
  293.148. (1) If the moneys in the Oregon Rainy Day Fund
established by ORS 293.144 just prior to the time of a transfer
scheduled under ORS 293.144 (3) or 293.146 equal at least
 { - 7-1/2 - }  { +  25 + } percent of the amount of General Fund
revenues collected during the prior biennium, moneys that would
otherwise be transferred to the Oregon Rainy Day Fund shall be
 { - deposited in the General Fund - }  { +  applied toward
extinguishment of state certificates of participation, bonds or
other long term debt + }.
  (2) If the moneys in the Oregon Rainy Day Fund just prior to
the time of a transfer scheduled under ORS 293.144 (3) or 293.146
do not equal at least   { - 7-1/2 - }   { + 25 + } percent of the
amount of General Fund revenues collected during the prior
biennium, the transfer to the Oregon Rainy Day Fund shall be made
regardless of whether that transfer increases the amount in the
Oregon Rainy Day Fund to at least   { - 7-1/2 - }   { + 25 + }
percent of the amount of General Fund revenues collected during
the prior biennium.
  SECTION 5.  { + (1) Section 1 of this 2010 Act and the
amendments to ORS 293.144, 293.146 and 293.148 by sections 2 to 4
of this 2010 Act first apply to appropriations for the biennium
beginning July 1, 2011.
  (2) The base amount for determining the maximum allowed amount
of appropriations for the biennium beginning July 1, 2011, under
section 1 of this 2010 Act is the total amount of appropriations
for the biennium beginning on July 1, 2009, as that amount would
be determined under section 1 of this 2010 Act.
  (3) Section 1 of this 2010 Act first applies to increases
occurring in the Consumer Price Index for All Urban Consumers of
the Portland, Oregon, Metropolitan Statistical Area, as compiled
by the United States Department of Labor, Bureau of Labor
Statistics, and estimated percentage increases in the population
of this state, based on data published or officially provided by
the Portland State University Population Research Center
occurring on or after January 1, 2010. + }
  SECTION 6.  { + This 2010 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2010 Act takes effect on its
passage. + }
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