Relating to the Oregon Growth Board; and declaring an emergency.
Catchline/Summary:
Makes duties, functions and powers of Oregon Growth Board operative January 1, 2014. Makes duties, functions and powers of Oregon Growth Board operative January 1, 2014. Establishes Oregon Growth Fund operative January 1, 2014.
Abolishes Oregon Growth Account Board and transfers duties, functions and powers of Oregon Growth Account Board to Oregon Growth Board operative January 1, 2014. Repeals former sunset and repeal provisions relating to Oregon Growth Board and Oregon Growth Fund that were to take effect on June 30, 2013.
Requires Oregon Growth Board to adopt rules that provide means of evaluating performance of investments. Requires board to report annually to Legislative Assembly regarding implementation and administration of board and investments made by board.
Allows Oregon Growth Board to contract with management companies or state agencies to manage and invest moneys in Oregon Growth Account and Oregon Growth Fund.
Authorizes Oregon Growth Board to use moneys in Oregon Growth Account to pay administrative costs associated with account and with administering duties, functions and powers of board.
Provides that certain amendments to statutes become operative on 91st day after adjournment sine die.
Allocates lottery moneys to Oregon Business Development Department and to Oregon Growth Fund for Oregon Growth Board.
Limits expenditures of lottery funds from Administrative Services Economic Development Fund to Oregon Business Development Department for Oregon Growth Board.
Declares emergency, effective on passage] June 30, 2013.
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HB 2323
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