Bill Text: OR SB842 | 2011 | Regular Session | Introduced

Oregon Senate Bill 842 (Prior Session Legislation)

Introduced

Bill Title: Relating to economic development; declaring an emergency.

Spectrum: Committee Bill

Status: (Failed) 2011-06-30 - In committee upon adjournment. [SB842 Detail]

Download: Oregon-2011-SB842-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 3620

                         Senate Bill 842

Sponsored by COMMITTEE ON BUSINESS, TRANSPORTATION AND ECONOMIC
  DEVELOPMENT

                             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.

  Creates Task Force on Economic Development Investment
Opportunities. Sunsets task force on date of convening of 2013
regular session of Legislative Assembly.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to economic development; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) The Task Force on Economic Development
Investment Opportunities is established, consisting of 12 members
as follows:
  (a) One member appointed by the President of the Senate from
among members of the Senate.
  (b) One member appointed by the Speaker of the House of
Representatives from among members of the House of
Representatives.
  (c) The Governor or the Governor's designated representative.
  (d) Five members appointed by the Governor as follows:
  (A) One representative from an emerging growth business as that
term is defined in ORS 348.701;
  (B) One representative of an Oregon-based, generally
accredited, not-for-profit private institution of higher
education;
  (C) One representative from an industry engaged in the traded
sector as that term is defined in ORS 285A.010;
  (D) One member of the Oregon Growth Account Board; and
  (E) One member from the Oregon Innovation Council.
  (e) The Director of the Oregon Business Development Department.
  (f) The State Treasurer.
  (g) The Chancellor of the Oregon University System.
  (h) One representative from a signature research center
established by the Oregon Innovation Council appointed by the
Oregon Innovation Council.
  (2) The task force shall study existing and prospective
possibilities for generating investment revenue and venture
capital to support emerging growth businesses and other economic
development opportunities in Oregon.
  (3) A majority of the voting members of the task force
constitutes a quorum for the transaction of business.

  (4) Official action by the task force requires the approval of
a majority of the voting members of the task force.
  (5) The task force shall elect one of its members to serve as
chairperson.
  (6) If there is a vacancy for any cause, the appointing
authority shall make an appointment to become immediately
effective.
  (7) The task force shall meet at times and places specified by
the call of the chairperson or of a majority of the voting
members of the task force.
  (8) The task force may adopt rules necessary for the operation
of the task force.
  (9) The task force shall submit a report, and may include
recommendations for legislation, to interim committees of the
Legislative Assembly related to economic development as
appropriate no later than October 1, 2012.
  (10) The Oregon Business Development Department shall provide
staff support to the task force.
  (11) Members of the task force who are not members of the
Legislative Assembly are not entitled to compensation, but may be
reimbursed for actual and necessary travel and other expenses
incurred by them in the performance of their official duties in
the manner and amounts provided for in ORS 292.495. Claims for
expenses incurred in performing functions of the task force shall
be paid out of funds appropriated to the Oregon Business
Development Department for purposes of the task force.
  (12) All agencies of state government, as defined in ORS
174.111, are directed to assist the task force in the performance
of its duties and, to the extent permitted by laws relating to
confidentiality, to furnish such information and advice as the
members of the task force consider necessary to perform their
duties. + }
  SECTION 2.  { + Section 1 of this 2011 Act is repealed on the
date of the convening of the 2013 regular session of the
Legislative Assembly as specified in ORS 171.010. + }
  SECTION 3.  { + 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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