Bill Text: OR HB5005 | 2011 | Regular Session | Engrossed

Oregon House Bill 5005 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Relating to state financial administration; and declaring an emergency.

Spectrum: Unknown

Status: (Passed) 2011-07-06 - Chapter 614, (2011 Laws): Effective date July 6, 2011. [HB5005 Detail]

Download: Oregon-2011-HB5005-Engrossed.html



     76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session

Note: For budget, see 2009-2011 Biennial Budget
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 9005

                           A-Engrossed

                         House Bill 5005
                  Ordered by the House June 29
            Including House Amendments dated June 29

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 Budget and Management
  Division, Oregon Department of Administrative Services)

                             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.

  Establishes amounts authorized for issuance of general
obligation bonds, revenue bonds, certificates of participation
and other financing agreements for biennium.
  Establishes amounts allocated for private activity bonds.
  Declares emergency, effective July 1, 2011.

                        A BILL FOR AN ACT
Relating to state financial administration; and declaring an
  emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + The amounts authorized, as provided by ORS
286A.035, for issuance of general obligation bonds, revenue
bonds, certificates of participation and other financing
agreements of this state during the 2011-2013 biennium are as
follows: + }

____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________

   { +
GENERAL OBLIGATION BONDS
  General Fund Obligations
      Oregon University System
      (Art. XI-G)........17,608,000
      Department of Community
      Colleges and Workforce
      Development (Art. X24,500,000
      Department of Environmental
      Quality (Art. XI-H)16,740,000
      Oregon Military Department
      (Art. XI-M)........ 7,614,000
      Oregon Department of
      Administrative Services
      (Art. XI-Q).......186,685,000
  Dedicated Fund Obligations
      Department of Veterans'
      Affairs (Art. XI-A100,000,000
      Oregon University System
      (Art. XI-F(1)).....84,844,570
      Water Resources Department
      (Art. XI-I(1)).....15,000,000
      Housing and Community Services
      Department (Art. XI50,000,000
      State Department of
      Energy (Art. XI-J)150,000,000
  Total General Obligation
      Bonds.............652,991,570
  REVENUE BONDS
  Direct Revenue Bonds
      Housing and Community
      Services Departmen300,000,000
      Department of Transportation,
      Oregon Transportation
      Infrastructure Fund18,360,000
      Highway User Tax B663,000,000
      Oregon Business Development
      Department........100,000,000
      Oregon Department of
      Administrative Services
      lottery revenue bo222,705,000
      State Department of25,000,000
  Total Direct Revenue
      Bonds...........1,329,065,000
  Pass-Through Revenue Bonds
      Oregon Business Development
      Department industrial
      development bonds.125,000,000
      Oregon Facilities 550,000,000
      Housing and Community Services
      Department........125,000,000
  Total Pass-Through Revenue
      Bonds.............800,000,000
      Total Revenue Bo2,129,065,000
  CERTIFICATES OF PARTICIPATION
  AND OTHER FINANCING AGREEMENTS
  Oregon Department of
      Administrative 10,000,000 + }
  SECTION 2.  { + The amount authorized in section 1 of this 2011
Act for issuance of general obligation bonds for the Water
Resources Department under Article XI-I(1) of the Oregon
Constitution refers to the amount authorized in section 4,
chapter 903, Oregon Laws 2009, and is not in addition to the
amount authorized in section 4, chapter 903, Oregon Laws
2009. + }
  SECTION 3.  { + The amounts allocated for private activity
bonds, as provided in ORS 286A.615, are as follows: + }

____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________

   { +
(1For the calendar year 2012,
      the amount of $363,952,030
      is allocated as follows:
  (a) Oregon Business
      Development Departm40,000,000
  (b) Housing and Community
      Services Departmen125,000,000
  (c) State Department of15,000,000
  (d) Private Activity Bond
      Committee.........183,952,030
  (2) For the calendar year 2013,
      the amount of $363,952,030
      is allocated as follows:
  (a) Oregon Business
      Development Departm40,000,000
  (b) Housing and Community
      Services Departmen125,000,000
  (c) State Department of15,000,000
  (d) Private Activity Bond
      Committee.........183,952,030
  (3) If an increase in the state's population, a
      sufficient increase in the region's Consumer
      Price Index or a change in federal law allows
      the private activity bond limit as set by the
      Internal Revenue Code of 1986, as amended, to
      exceed $363,952,030 during the 2012 calendar
      year or $363,952,030 during the 2013 calendar
      year, the increase is allocated to the Private
      Activity Bond Committee. + }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
  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 July 1,
2011. + }
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