2015 Regular Session
|At the request of:|
|Bill Title:||Relating to public investments; declaring an emergency.|
Establishes Oregon Investment Department as public investment agency to be supervised by director appointed by Oregon Investment Council.
Specifies duties, functions and powers of department. Transfers duties of State Treasurer as investment officer to department. Establishes Oregon Investment Department Fund. Continuously appropriates moneys in fund to department for expenses of department and council. Exempts department and council from certain laws regulating governmental entities. Directs department to submit biennial budget to Legislative Assembly. Specifies that budget takes effect unless Legislative Assembly enacts changes to budget by June 1 of odd-numbered year. Directs Governor to consult with State Treasurer regarding appointees to council. Directs Legislative Assembly to review results of implementation of Act at 2021 regular session. Designates State Treasurer as vice chairperson of council. On January 1, 2017, designates State Treasurer as chairperson of council. Directs department to report annually to Legislative Assembly and Governor regarding investment funds investment program and annual costs incurred by department. Declares emergency, effective on passage.
|Fiscal Impact:||May Have Fiscal Impact, But No Statement Yet Issued|
|Revenue Impact:||May Have Revenue Impact, But No Statement Yet Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In House Committee|
|Current Committee:||House Committee On Revenue|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|