Bill Text: OR SB16 | 2011 | Regular Session | Enrolled
Bill Title: Relating to Oregon 529 College Savings Board.
Spectrum: Unknown
Status: (Passed) 2011-06-22 - Effective date, January 1, 2012. [SB16 Detail]
Download: Oregon-2011-SB16-Enrolled.html
76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session
Enrolled
Senate Bill 16
Printed pursuant to Senate Interim Rule 213.28 by order of the
President of the Senate in conformance with presession filing
rules, indicating neither advocacy nor opposition on the part
of the President (at the request of State Treasurer Ted
Wheeler)
CHAPTER ................
AN ACT
Relating to Oregon 529 College Savings Board; amending ORS
348.849 and 348.873.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 348.849 is amended to read:
348.849. (1) There is established the Oregon 529 College
Savings Board to administer ORS 348.841 to 348.873.
(2) The board shall consist of:
(a) The State Treasurer { - , who shall serve as the board
chairperson - } { + or a designee of the State Treasurer + };
(b) A member of the State Board of Higher Education, to be
selected by the State Board of Higher Education;
(c) A representative of accredited private colleges and
universities located in this state, who shall be appointed by the
State Treasurer; and
(d) Two public members, who by reason of their education and
experience are qualified to serve, and who shall be appointed by
the State Treasurer.
{ + (3) The State Treasurer shall designate the board
chairperson from among the members of the board. The chairperson
shall serve at the pleasure of the State Treasurer. + }
{ - (3)(a) - } { + (4)(a) + } The board member who is a
member of the State Board of Higher Education shall serve at the
pleasure of the State Board of Higher Education but may not serve
on the board following the end of the member's term on the State
Board of Higher Education.
(b) The representative of private colleges and universities and
the public members of the board shall serve at the pleasure of
the State Treasurer for a term of office of three years. These
members of the board may be reappointed to subsequent terms.
{ - (4) - } { + (5) + } The State Treasurer and the Oregon
University System shall provide staff and assistance to the board
in the administration of the Oregon 529 College Savings Network
as directed by the board.
{ - (5) - } { + (6) + } A member of the board is entitled
to compensation and expenses as provided in ORS 292.495.
{ - (6) - } { + (7) + } A majority of the members of the
board constitutes a quorum for the transaction of business.
SECTION 2. ORS 348.873 is amended to read:
Enrolled Senate Bill 16 (SB 16-B) Page 1
348.873. The Oregon 529 College Savings Board shall publish
{ - a biennial - } { + an annual + } report to the Governor
and the Legislative Assembly detailing the board's activities.
{ - The report shall be prepared on or before February 1 of each
odd-numbered year. - } { + The board shall submit the report to
the Governor and the Legislative Assembly on or before March 15
of each year. + }
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Passed by Senate February 22, 2011
Repassed by Senate June 6, 2011
.............................................................
Robert Taylor, Secretary of Senate
.............................................................
Peter Courtney, President of Senate
Passed by House May 31, 2011
.............................................................
Bruce Hanna, Speaker of House
.............................................................
Arnie Roblan, Speaker of House
Enrolled Senate Bill 16 (SB 16-B) Page 2
Received by Governor:
......M.,............., 2011
Approved:
......M.,............., 2011
.............................................................
John Kitzhaber, Governor
Filed in Office of Secretary of State:
......M.,............., 2011
.............................................................
Kate Brown, Secretary of State
Enrolled Senate Bill 16 (SB 16-B) Page 3
