Proposing amendment to Oregon Constitution relating to state finance.
Catchline/Summary:
Proposes amendment to Oregon Constitution. Proposes amendment to Oregon Constitution. Requires deposit of excess revenues in Emergency Reserve Fund. Defines excess revenues as percentage amount of General Fund Revenues available for biennium equal to percentage difference between General Fund revenues available for biennium and General Fund appropriations for preceding biennium minus average two-year percentage change in statewide personal income in six calendar years preceding biennium.
Establishes Emergency Reserve Fund. Authorizes, upon making certain findings and with three-fifths majority vote, Legislative Assembly to appropriate moneys in fund. Limits appropriations that may be made from fund during any one biennium. Specifies that if amount in Emergency Fund equals at least 12 percent of General Fund revenues in prior biennium, amount that would be transferred to Emergency Fund shall be returned to taxpayers.
Applies to biennia beginning on or after July 1, 2013.
Refers proposed amendment to people for their approval or rejection at next regular general election.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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SJR 202 Senate Committee On Finance and Revenue
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