2011 Regular Session

Senate Bill 968

Directs, for biennia beginning on or after July 1, 2013, Legislative Assembly to leave amount unappropriated for biennium if Legislative Assembly determines that percentage increase in available General Fund revenues is greater than increase in personal income growth.

Did not become law. It stopped in the Senate's Ways and Means Committee on June 30, 2011. The 2011 session has ended.

What it does

The synopsis the Legislative Assembly published with the bill.

Directs, for biennia beginning on or after July 1, 2013, Legislative Assembly to leave amount unappropriated for biennium if Legislative Assembly determines that percentage increase in available General Fund revenues is greater than increase in personal income growth. Sets amount left unappropriated at percentage difference between increase in revenues available for biennium and personal income growth, with three] two percent maximum. Specifies that if Legislative Assembly determines that percentage increase in available General Fund revenues is greater than amount of personal income growth plus amount left unappropriated, Legislative Assembly must leave one-half of excess unappropriated. Allows use of remaining excess for general governmental purposes] may appropriate specified amount for general government purposes. Requires deposit of certain] unappropriated amounts in Oregon Rainy Day Fund] Emergency Reserve Fund established in Senate Joint Resolution 26 (2011) if General Fund revenues collected equal or exceed revenue estimate for biennium. Allows Legislative Assembly to deposit other unappropriated amounts in Oregon Rainy Day Fund, to appropriate amounts to reduce state bond debt or to pay for capital construction or other nonrecurring expenses.] Declares emergency, effective on passage.] Implements Senate Joint Resolution 26 (2011) by changing statutory references to Oregon Rainy Day Fund to Emergency Reserve Fund. Repeals obsolete statutory provisions relating to Oregon Rainy Day Fund. Provides that surpluses of personal income tax revenues in excess of two percent of forecast revenues are equally deposited in Emergency Reserve Fund and returned to personal income taxpayers. Provides that surpluses of corporate excise or income tax revenues in excess of two percent be deposited in Emergency Reserve Fund. Takes effect only if Senate Joint Resolution 26 is approved by people at next regular general election. Takes effect on effective date of constitutional amendment proposed in Senate Joint Resolution 26 (2011).

Its course

March 31 to June 30, 2011, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action7 actions on 6 days

In the SenateMar 31 to Jun 30 · stopped91 days

Waiting for a committeeMar 31 to Apr 11 day

Finance and RevenueApr 1 to May 938 days

Ways and MeansMay 9 to Jun 30 · stopped52 days

Amendments

Each amendment offered, and what became of it.

Senate committee amendmentAdopted
Adopted May 9

Text

Each version as the Legislative Assembly printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislative Assembly published it is below.

In the Senate Mar 31 – Jun 30

Mar 31Introduced
Apr 1Sent to Finance and Revenue
Apr 6Heard in Finance and Revenue
May 4Heard in Finance and Revenue
May 9Finance and Revenue recommended it as amended, and that it go to Ways and Means
Sent to Ways and Means
Jun 30Died when the session ended

All 7 actions, as published

Mar 31Introduction and first reading. Referred to President's desk.Senate
Apr 1Referred to Finance and Revenue.Senate
Apr 6Public Hearing held.Senate
May 4Work Session held.Senate
May 9Recommendation: Do pass with amendments and be referred to Ways and Means. (Printed A-Eng)Senate
May 9Referred to Ways and Means by order of the President.Senate
Jun 30In committee upon adjournment.Senate