Relating to a reserve fund; declaring an emergency; and providing for revenue estimate modification that requires approval by a two-thirds majority.
Catchline/Summary:
Establishes Oregon Rainy Day Fund. Establishes Oregon Rainy Day Fund. Increases amount of estimate of revenues that will be received from corporate income and excise taxes for biennium beginning July 1, 2005. Requires distribution of difference between amount actually collected and amount estimated after close of 2005 regular session. Establishes formula for transfer of moneys to Oregon Rainy Day Fund in subsequent biennia.
Declares emergency, effective on passage.]
Becomes operative only if B-engrossed House Bill 2031 relating to corporate taxation passes both houses of Legislative Assembly and is signed by Governor on or before March 16, 2007.
Declares emergency, effective May 1, 2007.
Oregon Legislative Assembly - Public Testimony Registration Form
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HB 2707
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