Did not become law. It stopped in the Senate's Rules Committee on June 25, 2023. The 2023 session has ended.
2023 Regular Session
Senate Bill 501
Establishes Bank of the State of Oregon.
What it does
The synopsis the Legislative Assembly published with the bill.
Establishes Bank of the State of Oregon. Specifies purposes of bank. Establishes Bank of the State of Oregon Board to operate and manage bank. Creates advisory board of directors to advise bank board and management on operation of bank. Requires bank to accept deposits of public funds and permits bank to accept deposits of other funds. Permits bank to make, purchase, guarantee or hold certain loans and to serve as custodian bank. Specifies other powers. Directs State Treasurer to deposit moneys in bank in amount treasurer determines is necessary to allow bank to fulfill duties. Requires Bank of the State of Oregon Board to determine and reserve amount of revenue necessary to continue bank operations in safe and sound manner and to credit remaining revenue to use for general governmental operations. Directs board to adopt rules to ensure safety and soundness of bank, describe permissible investments, bank services, loan limits and reserve requirements. Requires Secretary of State audit. Specifies that deposits of bank are guaranteed by state and that income bank earns on public funds is not subject to taxation. Specifies that certain bank records are confidential and not subject to disclosure. Becomes operative January 1, 2025.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the Senate
Sponsor
Its course
January 9 to June 25, 2023, 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 action3 actions on 3 days
In the SenateJan 9 to Jun 25 · stopped167 days
Waiting for a committeeJan 9 to Jan 145 days
RulesJan 14 to Jun 25 · stopped162 days
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 Jan 9 – Jun 25
- Jan 9Introduced
- Jan 14Sent to Rules
- Jun 25Died when the session ended
All 3 actions, as published
- Jan 9Introduction and first reading. Referred to President's desk.Senate
- Jan 14Referred to Rules, then Ways and Means.Senate
- Jun 25In committee upon adjournment.Senate