Bill Text: OR HB2924 | 2013 | Regular Session | Introduced

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Bill Title: Relating to municipal bankruptcy; prescribing an effective date.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB2924 Detail]

Download: Oregon-2013-HB2924-Introduced.html

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     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 894

                         House Bill 2924

Sponsored by Representative HANNA

                             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 local governments and special government bodies to
file for relief under federal bankruptcy law, take actions
necessary to carry out confirmed plans, and incur and pay
expenses incident to bankruptcy proceedings and carrying out
plans.
  Takes effect on 91st day following adjournment sine die.

                        A BILL FOR AN ACT
Relating to municipal bankruptcy; creating new provisions;
  repealing ORS 548.705, 548.710 and 548.715; and prescribing an
  effective date.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) As used in this section, 'local public
entity' means:
  (a) A local government as defined in ORS 174.116.
  (b) A special government body as defined in ORS 174.117.
  (2) A local public entity may:
  (a) File a petition and seek all relief that is available to a
municipality under federal bankruptcy law;
  (b) Take any action necessary to carry out the plan confirmed
by the court in the bankruptcy proceedings; and
  (c) Incur and pay expenses incident to the bankruptcy
proceedings and carrying out the plan. + }
  SECTION 2.  { + ORS 548.705, 548.710 and 548.715 are
repealed. + }
  SECTION 3.  { + This 2013 Act takes effect on the 91st day
after the date on which the 2013 regular session of the
Seventy-seventh Legislative Assembly adjourns sine die. + }
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