Bill Text: OR SB168 | 2011 | Regular Session | Introduced

Oregon Senate Bill 168 (Prior Session Legislation)

Introduced

Bill Title: Relating to Klamath Basin Restoration Agreement of 2010; appropriating money; declaring an emergency.

Spectrum: Unknown

Status: (Failed) 2011-06-30 - In committee upon adjournment. [SB168 Detail]

Download: Oregon-2011-SB168-Introduced.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 506

                         Senate Bill 168

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 Governor John A. Kitzhaber
  for Water Resources Department)

                             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.

  Authorizes issuance of lottery bonds to finance implementation
of Klamath Basin Restoration Agreement of 2010.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to Klamath Basin Restoration Agreement of 2010;
  appropriating money; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) At the request of the Oregon Department of
Administrative Services, in consultation with the Water Resources
Department, the State Treasurer is authorized to issue lottery
bonds pursuant to ORS 286A.560 to 286A.585, for the biennium
beginning July 1, 2011, in an amount not to exceed net proceeds
of $3.4 million for the purpose described in subsection (2) of
this section, plus an additional amount, to be estimated by the
State Treasurer, for payment of bond-related costs.
  (2) Net proceeds of bonds issued pursuant to this section must
be deposited in the Klamath Basin Restoration Agreement Fund
established in section 3 of this 2011 Act for executing the
commitments of the State of Oregon in the implementation of the
Klamath Basin Restoration Agreement of 2010.
  (3) Bond-related costs for the lottery bonds authorized by this
section must be paid from the gross proceeds of the lottery bonds
and from allocations for the purposes of ORS 286A.576 (1)(c). + }
  SECTION 2.  { + The Legislative Assembly finds that:
  (1) Implementation of the Klamath Basin Restoration Agreement
of 2010 will have negative impacts, including a retirement of
water rights, a reduction in water delivery and the potential
devaluation of land and agricultural activities in the Klamath
River Basin in Oregon.
  (2) The commitment of the State of Oregon will help to mitigate
and offset negative impacts of the restoration agreement and to
establish a basis for continuing job creation and economic
development in the restored Klamath River Basin.
  (3) The factors described in subsection (2) of this section
will encourage and promote job creation and economic development
within the State of Oregon, and issuance of lottery bonds to
finance the restoration agreement is therefore an appropriate use
of state lottery funds under section 4, Article XV of the Oregon
Constitution, and ORS 461.510. + }
  SECTION 3.  { + (1) The Klamath Basin Restoration Agreement
Fund is established in the State Treasury, separate and distinct
from the General Fund. Interest earned on moneys in the Klamath
Basin Restoration Agreement Fund shall be credited to the fund.
The fund consists of moneys deposited in the fund under section 1
of this 2011 Act, and may include fees, revenues or other income
deposited in the fund by the Legislative Assembly for the
implementation of the Klamath Basin Restoration Agreement of
2010. Moneys in the fund are continuously appropriated to the
Water Resources Department for the purposes described in
subsection (2) of this section.
  (2) Moneys in the fund may be used to:
  (a) Provide grants for projects, targeted to support
agricultural users and development, that foster and create
incentive for development of renewable energy, energy efficiency
and energy and water conservation.
  (b) Provide moneys to Klamath County to compensate for loss of
tax revenue due to implementation of the restoration agreement.
  (c) Pay the costs of the department to administer the fund.
  (d) Pay bond-related costs, as defined in ORS 286A.560. + }
  SECTION 4.  { + 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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